One year after recreational sales of marijuana became legal in Nevada, the money made by the industry has out-performed projections by 110 percent.
Legal pot sales began on July 1, 2017, and despite a few early hiccups, the industry hasn’t seen any major problems.
However, there are some unsettled issues. The next major hurdle facing the industry is providing legal, public space for people to consume marijuana. The City of Las Vegas is in the early stages of considering marijuana lounges/social use clubs.
Another loose end for the new industry is allocation of the marijuana tax revenue collected fom the dispensaries. This revenue was promised to education, but according to the state’s tax department it ended up in the state’s rainy day fund as a result of the state’s legislative session – more than $340 million.
Despite numerous callsfrom state and local leaders to Gov. Sandoval to call a special session to address the issue, he has not. The marijuana tax money issue is likely to be dealt with during the next legislative session.