ONE YEAR LATER: Recreational Marijuana has Nevada rolling in money, but problems remain
LAS VEGAS (KSNV) —
Today marks one year since the legalization of recreational pot sales in our valley, and the state is rolling in the green.
The money made by the legalization of marijuana surpassed expectations by 110 percent. In the first 10 months, there were at least $340 million in sales.
The industry has created thousands of jobs in the state, but there are still some loose ends.
Even though recreational marijuana is legal, you can only smoke it in private. There’s been a push for pot lounges where people can smoke in a social setting, but that issue has not yet been settled.
Another problem involves the tax revenue from weed sales and how it’s distributed. The money was promised to our school system, but the money ended up in the state’s rainy day fund instead.
Matthew Gardner, the vice president of Shango dispensary, says that despite some minor challenges, it’s a been a good year for the industry.
“It’s pretty exciting to see the positive changes,” said Gardner. “Thirty five thousand jobs, creating well over $50 million in tax revenue now, beyond projections.”
More decisions on how marijuana revenue will be distributed are expected to be dealt with in the next legislative session.