Nevada: Shortage of recreational cannabis after one week of legal sales
It seems that tourists visiting Nevada have smoked all the weed in the state. A week after the start of the sale of recreational cannabis in Nevada, ...dispensaries are already running out of cannabis. Last Friday, Nevada Governor Brian Sandoval declared a state of emergency regarding recreational marijuana.
About 50 dispensaries in the state of Nevada are licensed to sell recreational cannabis. They broke records in just 4 days, by generating no less than $500,000 in tax revenue through the sale of cannabis.
Insufficient inventory
The bill to legalize A bill legalizing recreational cannabis was passed last November. Despite the stockpiles built up to prevent any shortages, demand was very strong, particularly because of the Fourth of July weekend, the U.S. Independence Day holiday.
The other reason cited is the unique nature of Nevada’s model: only liquor licensees are permitted to transport cannabis between production facilities and retail outlets during the first 18 months of legalization. However, only seven liquor retailers have applied, and not all of them meet the security requirements necessary to transport cannabis.
On the distribution side, the 47 dispensaries currently selling recreational cannabis in Nevada are therefore overwhelmed by demand. The state is therefore expected to quickly reverse its promise to grant exclusive transportation rights to alcohol distributors and pass a new law allowing more companies to apply for a cannabis transportation license.
State Treasury spokesperson Stephanie Klapstein spoke to the The Reno-Gazette Journal : «If the cannabis industry collapses, it would have significant consequences. 15% of the cannabis cultivation »generates revenue that is earmarked for education. Even a brief shutdown could create a shortfall in the budget allocated for Nevada's schools.".
A «weed emergency» has therefore been declared to address this shortage, notably by relaxing restrictions on transportation and distribution licenses. The Nevada Tax Commission plans to vote on this regulation by next Thursday.
Mehdi Bautier
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