Nevada dispensaries sold nearly $425 million worth of recreational marijuana and pulled in nearly $70 million in tax revenue in the state’s first full year of sales, officials announced Tuesday.
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Nevada’s first full year of legal adult-use marijuana sales is set to exceed more than $400 million in sales. But the dispensaries, producers and marijuana growers in the state still have no stable place for all that cash.
Recreational marijuana sales became legal in Nevada on July 1, 2017. In the year that’s passed, cash has flowed, businesses have grown and no major controversies have surfaced.
Nevada’s fledgling marijuana industry has taken off significantly faster than state officials anticipated. Now state regulators are scrambling to catch up.
Nevada stores raked in $35.35 million in recreational pot sales during February, marking the third highest monthly sales total since recreational marijuana became legal to sell last July.
The state teachers union on Friday launched a new digital ad painting Democratic gubernatorial candidate Steve Sisolak as the “most conservative Democrat” in the race.
Nevada wants to be the nation’s gold standard for marijuana regulation, and last week it got the chance to show off its mettle to visitors from the Garden State.
Sandoval, who appointed Contine as the director of the Tax Department in Nov. 2014, praised her as someone he could trust with difficult of tasks.
Nevada regulators are cracking down on marijuana testing labs, as nearly half of the state’s marijuana labs have had their license suspended in the last five months.
Titus, a Democrat representing central Las Vegas, on Tuesday signed on as a co-sponsor to a bill from U.S. Rep. Jared Polis, D-Colorado, that aims to remove marijuana in all forms from the schedule of drugs under the Controlled Substances Act.