Before recreational cannabis was legal, there were only 35 licensed marijuana retailers across New Mexico.

According to the state's cannabis control division, that number now stands at 125.

With the state of New Mexico not limiting the number of retailers who can open up cannabis dispensaries, there's an influx of people applying for and obtaining cannabis business licenses.

The state's Cannabis Control Division has an online map that shows where people have applied for their cannabis business licenses and how far along they are in the process.

Chad Lozano is the lead grower with Gnarly Farmers.

Lozano said the first step in the application process is figuring out what license you want to apply for.

Recreational marijuana is said to bring in millions of revenue for the state, but that does not mean every business will benefit from the new industry.

According to the state of New Mexico, the industry will bring in $50 million in state revenue.

State leaders say that it will be used for state programs such as housing, food insecurity, and economic development.

A local economics professor at New Mexico State University says that the private economy such as restaurants and movie theaters may not see a big boost.

"The reason for that is that marijuana is a recreational drug, people buy it for recreational purposes. That recreational usage means that they're not engaging in some sort of other recreational activity," said Erickson. "

Bio-Tech Medical Software, Inc. subsidiary of Forian Inc. (NASDAQ: FORA), successfully completed the launch of its New Mexico state traceability system for adult-use cannabis sales. This latest state partnership demonstrates the continued expansion of Forian’s BioTrack state traceability system.

BioTrack has been the traceability system for New Mexico medical cannabis sales since 2015, and in 2021 expanded to also be the state’s partner for adult use compliance monitoring. The successful seamless transition of the traceability system from medical to dual-use enabled businesses to begin commercializing adult-use cannabis sales at 12:00 a.m. on April 1 with no disruption to retailers or consumers.

The cannabis business is booming in New Mexico, also known as the Land of Enchantment, with adult-use sales reaching $3,092,712 in the first weekend.

Three days and millions of dollars later, the New Mexico adult-use cannabis industry is off to a roaring start.

Local television station KOAT reports that, as of noon on Sunday, recreational pot sales in the state had eclipsed $3 million.

The station, citing state officials, said that 49,552 transactions for recreational cannabis transactions had been recorded at that time, which totaled $3,092,712.

Sales officially kicked off after midnight on Friday, when hundreds of eager customers lined up outside the dispensaries in anticipation of the historic opening.

In two short days, dispensaries across Las Cruces and Doña Ana County will make history as recreational marijuana sales start in New Mexico.

The tax revenue from marijuana will certainly diversify New Mexico's economy but by how much?

"We will be better positioned than other states to capture the market," said Kelly O'Donnell, a northern New Mexico economist who studies the financial impact of social policy.

"Once there is legalization at the federal level, we'll be in a position to export cannabis."

We're continuing to look ahead to next week, as recreational cannabis sales will begin April 1 in New Mexico for those 21 and older, by checking in with local dispensaries.

In addition to high-profile efforts to improve public safety and education, Gov. Michelle Lujan Grisham has called on lawmakers to address cannabis during the 30-day legislative session.  Lujan Grisham issued a message on Thursday afternoon, authorizing lawmakers to add changes to the Cannabis Regulation Act to the legislative agenda.  The governor’s message pertains to SB 100, which is sponsored by state Sen. Linda Lopez, D-Albuquerque.

An emergency state-level rule change doubled the number of cannabis plants that licensed growers can cultivate at one time, but some in the industry are concerned that the change is too little, too late to meet demand for the start of recreational sales in April.