Cannabis lounges in Nevada by the end of the year

Nevada’s cannabis regulatory agency has finally approved the rules that will govern the first 60 to 65 cannabis consumption lounges, a a long-awaited measure by an industry eager to capitalize more fully on the state's thriving tourism industry.

The first ones cannabis lounges are expected to open before the end of the year, according to a press release from the Cannabis Compliance Board shared on social media.

Today, the CCB voted unanimously to approve regulations governing the licensing and operation of cannabis consumption lounges. pic.twitter.com/1O3R3cXIsr

— Nevada Cannabis Compliance Board (@NevadaCCB) June 28, 2022

The regulatory board approved the regulations one year after lawmakers passed a bill authorizing trade shows, following 15 public meetings and workshops on the issue.

Between 40 and 45 licenses will be issued for consumption areas attached to existing cannabis stores, and another 20 for independent lounges.

Ten of these licenses would be subject to reduced fees for social equity applicants or for individuals who have been convicted of a nonviolent cannabis-related offense and who live in one of the eligible disadvantaged areas.

One of the criticisms leveled at the rules is the high barrier to entry: applicants must prove they have $200,000 in liquid assets to obtain a license.

«It (the approval of the regulations) should be seen as a first step. It won’t be perfect,» said Tyler Klimas, executive director of the Cannabis Control Board.

Regulators are expected to open the application process this fall for the launch of the first cannabis lounges before the end of the year, as some stores have already set up their facilities in the hope of receiving a license to serve alcohol.

Only the Tribal lands in Nevada currently have the right to open social cannabis consumption spaces.