Two Markets, One Plant: New York and New Mexico’s Journeys
New York and New Mexico’s markets may seem worlds apart, but they share common ground. Both states operate dual systems for medical and recreational cannabis, offering diverse CPG products. Social equity also takes center stage: New York backs its efforts with a $200 million fund for disadvantaged communities, while New Mexico promotes accessibility through microbusiness licenses. Both states also employ BioTrack for seed-to-sale tracking.
But for all its promise, New York’s rollout has been slow. Bureaucratic delays and legal disputes have leveled the total number of dispensaries to 265 statewide as of December 2024. The licensing system is deliberate, with conditional adult-use licenses for equity applicants and a testing regimen to keep the products safe and potent.
Now, contrast that with New Mexico, where the regulatory pace has been more like a Sunday drive through the high desert. Recreational cannabis launched on April 1, 2022, only a year after legalization. While New York meticulously plans, New Mexico has embraced a more open model. As of March 1, 2024, the state has issued 2,873 cannabis licenses across New Mexico, including 1,050 retailers, 878 manufacturers, and 459 micro producers
However, their differences stand out even more in population. New York, with its 20 million residents, targets $4.2 billion in sales by 2027. New Mexico, home to just 2.1 million people, punches above its weight by drawing out-of-state buyers (looking at you, Texans). Still, the markets aren’t even in the same league. However, both have struggled with illicit markets, New York’s limited license approach seems to make spotting bad actors easier, as the OCM has mapped out approved retailers on there map much like the CCD.
In New York, the scene is urban, gritty, and tied to the legacy market. Underground markets and events are still thriving, especially in places like Queens and Brooklyn. New Mexico’s scene feels more grounded, tied to regional agriculture, and much more of an export hub than import.
New York and New Mexico are chasing the same dream from opposite ends of the table. New York’s meticulous approach, rooted in equity and regulation, contrasts sharply with New Mexico’s open-door model, which values accessibility and rapid rollout. Both face challenges that test their frameworks: New York must streamline its process and tame the legacy market, while New Mexico needs to manage its glut of licenses and stabilize prices.
Two states, two markets, and one universal truth: legalization is never a one-size-fits-all recipe. Each state is writing its own cookbook, blending culture, ambition, and reality into a dish that reflects its soul. Whether it’s the fast-paced hustle of New York or the sun-soaked ease of New Mexico, the plant—and its people—keep the story alive.
