Business
New Mexico’s adult-use marijuana sales bolstered by tourism, Texas residents
It’s been a little more than a year since New Mexico launched adult-use marijuana, with sales topping $300 million during the initial 12 months.
The state brought in a record $32 million in recreational sales during March alone and is well on its way to reaching $400 million for 2023, as projected by the 2023 MJBiz Factbook.
Large population centers – including Albuquerque, Las Cruces and Santa Fe – are driving much of those sales, according to data from the New Mexico Regulation & Licensing Department.
Stores located in Albuquerque accounted for nearly 31% of total adult-use sales between August 2022 and February 2023.
That number increases to more than 36% if sales from nearby metro communities – such as Bernalillo and Rio Rancho – are included.
Either way you slice it, the Albuquerque market is dominating marijuana sales in New Mexico.
For example, Sante Fe, which was second in sales between August 2022 and February 2023, accounted for only 7% of the total recreational marijuana sold in the state.
And while total sales might be lower in smaller municipalities, retailers in border and tourist areas are bolstering the emerging market – with some stores actually performing better when taking population into account.
MJBizDaily took a visual dive into New Mexico marijuana sales data by city, ZIP code and store location. Here is what we found:
The changing medical market
Medical marijuana sales declined with the launch and growth of New Mexico’s recreational market – as is typically the case after the launch of adult use.
For example, the same pattern emerged in neighboring Arizona in 2020.
MMJ sales in New Mexico declined 25% from April 2022 to January 2023, with dispensaries recording $13.8 million in January.
Sales did recover in March, to $15.4 million, but are still down $2 million from last April.
Overall medical marijuana sales might be declining, but the average sales per transaction from patients outpaced the average for recreational shoppers.
The amount spent on MMJ per transaction in March was $53.50 versus $44.60 for adult-use products.
The per-transaction gap has stabilized since the launch of recreational sales, but it will be an interesting statistic to follow as the adult-use market expands in the coming years.
Where recreational sales are happening
If you remove Albuquerque and other population centers from the equation, the story of recreational sales in New Mexico has been tourism and Texas.
Sales in border communities such as Clovis, Hobbs and Sunland Park are outpacing what would be expected given their smaller populations – a clear indication that Texans are crossing the border to purchase marijuana from New Mexico.
The same pattern can be seen with tourist destinations such as Carlsbad, Ruidoso and Taos.
The impact can be seen more clearly when looking at ZIP code data.
Sparsely populated Sunland Park, situated on the border across from El Paso, is home to two of New Mexico’s leading store locations based on total recreational sales.
Ultra Health and Everest Cannabis Co. brought in almost $6.1 million in combined sales from August 2022 to February 2023.
While impressive, the figures are even more meaningful when factoring in the number of residents in the area.
The per-person recreational marijuana spend (sales divided by population) for Sunland Park’s 88063 ZIP code was $1,044, topping any other New Mexico ZIP code.
Other border towns also performed well.
The per-person spending for ZIP codes in Clovis (88135) and Hobbs (88240) were $499 and $258, respectively, much higher than those in Albuquerque and Santa Fe.
Tourism also buoyed per-capita spending in less densely populated areas of the state.
Ruidoso ($546), known for its skiing, and Taos ($598), a popular art and history destination, both outperformed for the number of people living in their respective ZIP codes.
Leading locations
While recreational marijuana remains illegal in Texas, it pays to have a store on the border.
Recreational marijuana sales in individual border stores outpaced their cohorts in New Mexico’s more populous cities such as Albuquerque.
Ultra Health’s Sunland Park location sold almost $3.6 million recreational marijuana between August 2022 and February 2023.
Urban Wellness, the top-selling Albuquerque store, brought in $1.95 million for the same time period.
In fact, almost half the top 20 revenue-generating stores in New Mexico are located in cities bordering Texas, such as Anthony, Hobbs and Sunland Park and Hobbs.
The remaining stores on the list are located in tourist destinations or in populations centers.
If previous adult-use launches are any indication, New Mexico’s recreational market should experience consistent growth for the foreseeable future.
The likelihood of Texas legalization remains slim, so don’t expect any shifts from current sales trends given that out-of-state customers help drive New Mexico marijuana sales.
Source: https://mjbizdaily.com/new-mexico-adult-use-cannabis-sales-bolstered-by-tourism-texas/
Business
Jio’s 1,600-Satellite LEO Constellation Gets Technical Green Light
Reliance Jio has crossed a significant milestone in its space connectivity ambitions after its proposal to deploy a Low Earth Orbit (LEO) satellite constellation of around 1,600 satellites received a positive technical assessment from the Indian National Space Promotion and Authorisation Centre (IN-SPACe).
The evaluation, conducted jointly by IN-SPACe, the Indian Space Research Organisation (ISRO), and the Wireless Planning and Coordination (WPC) wing of the Department of Telecommunications, reportedly concluded that Jio’s proposed system meets the required technical standards and is comparable to leading global satellite broadband networks.
India’s Indigenous LEO Satellite Vision
Under the proposal, Reliance Jio plans to deploy between 1,600 and 1,650 satellites in Low Earth Orbit at an altitude of around 650 kilometres.
The planned constellation is expected to provide high-speed satellite connectivity across India, with approximately 32 satellites visible from any location at a given time. The company aims to roll out the network within the next two to three years, subject to regulatory approvals.
According to industry estimates, the satellite system could deliver 4.5 to 5 terabits per second (Tbps) of total data capacity, making it one of the largest satellite broadband projects proposed in India.
The project is expected to require an investment of $10–15 billion (approximately ₹95,000 crore to ₹1.42 lakh crore), reflecting the scale of infrastructure needed for satellite manufacturing, launches, ground stations, and user terminals.
Regulatory Process Moves Forward
Following the successful technical review, the proposal is expected to move into the next phase of regulatory approvals.
The government may now assist Jio in securing orbital slots, coordinating spectrum usage, and filing applications with the International Telecommunication Union (ITU), the global body responsible for managing satellite orbit and frequency allocations.
Obtaining orbital rights remains a critical step, as Low Earth Orbit has become increasingly competitive due to the growing number of satellite broadband projects being planned worldwide.
Officials also indicated that the proposed satellite architecture has been designed to coexist with future Indian LEO constellations, allowing multiple domestic operators to share orbital resources efficiently.
Broadband, Mobile Connectivity, and Strategic Applications
Jio plans to use the satellite network to provide a range of communication services, including satellite broadband, mobile backhaul, enterprise connectivity, and direct-to-device (D2D) satellite communication, particularly in remote and underserved regions where conventional telecom infrastructure is limited.
The company also intends to establish 20 to 22 ground stations across India to support network operations.
Apart from commercial telecommunications, officials have highlighted the project’s potential strategic importance. A domestically developed satellite constellation could strengthen India’s communication infrastructure, reduce dependence on foreign satellite operators, and support national security requirements.
Reports suggest preliminary discussions are underway regarding the possibility of integrating defence-related payloads into some satellites, enabling both civilian and strategic use.
Major Step for India’s Space and Telecom Sectors
Industry analysts view the technical clearance as an important milestone in India’s expanding private space ecosystem. If Jio secures the remaining regulatory approvals and international orbital clearances, the project could become the country’s first large-scale indigenous LEO satellite broadband network.
The initiative also aligns with India’s broader efforts to expand digital connectivity while strengthening its presence in the global satellite communications market.
Business
Alleged Crores Pharma Scam Mastermind Arrested from Surat
After evading law enforcement for nearly 13 years, an accused linked to a large-scale pharmaceutical fraud case has been arrested by Delhi Police from Surat, Gujarat. The suspect is alleged to have orchestrated a series of financial scams involving fake identities, forged documents, and dishonoured cheques used to procure high-value pharmaceutical raw materials.
Authorities say the accused, identified as Himmat Singh Lodha, is believed to have defrauded multiple pharmaceutical companies in Delhi of goods worth approximately ₹98 lakh before disappearing and remaining underground for years.
Fake Business Deals and Dishonoured Cheques Used in Fraud
Investigators claim the accused posed as a legitimate pharmaceutical trader and placed bulk orders for expensive drug ingredients, offering post-dated cheques as payment security.
In one documented case from 2013, he allegedly obtained around 550 kilograms of Gliclazide, a diabetes-related pharmaceutical ingredient, valued at over ₹26 lakh. When suppliers attempted to encash the cheques, they were reportedly returned with the remark “account closed.”
Following the transaction, the accused allegedly vacated his office and rented residence and disappeared without settling payments. He was later declared a proclaimed offender in 2016 after repeatedly failing to appear before court proceedings. Authorities had also issued a reward for information leading to his arrest.
Multiple Identities and Repeated Fraud Pattern
Police investigations further link the accused to another cheating case dating back to 2012, where he allegedly used a fake identity, “Kailash Jain,” to obtain a large consignment of Ambroxol HCL, a pharmaceutical compound used in cough medications. The value of that consignment was estimated at around ₹72 lakh.
Officials believe the accused followed a consistent modus operandi—posing as a credible businessman, securing high-value goods on deferred payment terms, and then disappearing after delivery while shutting down business operations.
Investigators suspect that forged business records, fake company credentials, and fabricated financial histories were used to build trust with suppliers and gain access to expensive raw materials.
Multi-State Surveillance Leads to Arrest in Surat
A special Crime Branch team tracked the accused through coordinated surveillance efforts across multiple cities, including Mumbai, Ahmedabad, and Surat. After nearly a month of technical monitoring and intelligence gathering, officials located and arrested him from a residential area in Surat.
Authorities also revealed that the accused had been involved in property-related activities while staying under the radar to avoid detection.
Growing Threat of Corporate Identity Fraud
The case highlights a rising trend of organised financial fraud targeting industries that rely heavily on trust-based transactions and deferred payments. Experts note that criminals increasingly exploit gaps in corporate verification systems by using fake GST registrations, temporary offices, and forged documentation to appear legitimate.
Cybercrime and financial fraud specialists warn that such schemes are becoming more complex with the widespread availability of digital business tools, making it easier to create convincing but fraudulent corporate identities.
Experts Urge Stronger Due Diligence in High-Value Transactions
Experts, including former IPS officer and cybercrime specialist Prof. Triveni Singh, emphasize the need for stricter verification procedures in commercial dealings. He noted that relying solely on paperwork or digital business profiles can expose companies to significant financial risk.
Authorities and industry experts recommend physical verification of business operations, bank account validation, and detailed background checks before engaging in high-value or deferred-payment transactions—particularly in sectors like pharmaceuticals, where single consignments can involve transactions worth crores.
Business
EU Pressure Builds on Google as Regulators Face Calls for Massive Fine Over Search Practices
A growing coalition of European industry groups is intensifying pressure on regulators to take decisive action against Google over allegations of unfair search practices that could reshape competition rules across the region’s digital economy.
Investigation Under Digital Markets Act Gains Momentum
The case is being examined by the European Commission under the European Union’s landmark Digital Markets Act (DMA), introduced to curb the dominance of major technology platforms and ensure fair competition.
Launched in March 2024, the investigation focuses on whether Google has been prioritising its own services in search results, potentially disadvantaging rival businesses that rely on online visibility to reach customers.
Industry Groups Demand Swift Action
Several prominent European organizations have jointly urged regulators to conclude the probe without further delay. They argue that prolonged investigations allow alleged anti-competitive practices to continue, putting European companies—especially startups—at a disadvantage.
Signatories include the European Publishers Council, the European Magazine Media Association, the European Tech Alliance, and EU Travel Tech.
In a joint statement, these groups warned that delays in enforcement are affecting innovation, profitability, and growth prospects for regional businesses competing in digital markets.
Google Denies Allegations
Google has rejected claims of bias, stating that its search algorithms are designed to deliver the most relevant and useful results to users. The company has also proposed adjustments to address regulatory concerns.
However, critics argue that these changes are insufficient and fail to address the core issue of market dominance.
Potential Billion-Euro Penalties
If found in violation of the DMA, Google could face significant financial penalties. Under EU rules, fines can reach a substantial percentage of a company’s global turnover, potentially amounting to billions of euros.
Regulators may also impose corrective measures requiring changes to business practices, which could have long-term implications for how digital platforms operate in Europe.
Wider Implications for Big Tech
The case highlights ongoing tensions between European regulators and major U.S. technology firms. In recent years, the EU has taken a more aggressive stance in enforcing competition laws, aiming to create a level playing field for local businesses.
A final ruling against Google could set a major precedent, influencing future enforcement actions and shaping the regulatory landscape for global tech companies operating within Europe.
As scrutiny intensifies, the outcome of the investigation is expected to play a critical role in defining the future of digital competition across the European Union.
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