NEWS CORNER: Nevada Recreational Marijuana Sales Open Huge
Recreational marijuana sales became legal in Nevada on July 1 2017 and the opening weekend was huge. According to Fortune magazine, “The initial weekend of recreational sales saw over 40,000 retail transactions.” Some dispensaries made twice as many sales as they expected and total sales were $3 million in the first four days.
This lead to some fears of a “pot shortage.” Don’t worry though, Redwood has plenty of great cannabis strains for the recreational buyer, including Afghani Bullrider, Blue Dragon, Cookies and many more.
Worries about the shortage were largely driven by the small number of marijuana distributors initially licensed by the state. (Distributors are the companies responsible for transporting cannabis from grow facilities to the dispensaries.) Nevada’s recreational marijuana law was initially interpreted to mean that only liquor wholesalers were allowed to act as distributors. The measure that voters approved back in November said that marijuana would be regulated “like alcohol” and the disagreement about how it can be distributed arises out of that language.
The Governor Has Your Back
This lead to some fears of a shortage and then Governor Brian Sandoval declared a state of emergency due to the low supply level at some dispensaries. So the governor has got your back. Actually, this likely had more to do with worries about lost tax revenue than the governor’s smoking habits. The strong early numbers indicate that dispensaries in the state could have $30 million in sales in the first six months. The emergency declaration allowed the Nevada Tax Commission to begin the process of licensing more distributors, although the case in still winding its way through the courts.
Don’t worry, though. Redwood is here and we have what you need!! There’s no emergency and we’re excited for the law to catch up to sales.
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