Nevada retailers sold nearly $200 million worth of recreational cannabis since adult-use sales began six months ago, surpassing the total revenue generated by Colorado and Washington state in the early months of their recreational markets.
Nevada’s higher sales totals relative to other adult-use markets are driven by several factors:
Nevada’s early start program – which allowed licensed dispensaries to sell recreational marijuana while final rules for the adult-use program were ironed out – proved extremely successful. Despite initial hurdles regarding cannabis distribution licenses, the state was generally well prepared to handle the influx of new recreational customers. Over 40 million visitors travel to Las Vegas each year, many of whom visit the city primarily for vacation or leisure purposes. Today’s cannabis industry is very different than it was in 2014, when Colorado and Washington state launched adult-use sales. Branding and retailing practices have advanced significantly, and stores now offer a larger assortment of products that appeal to both new and experienced consumers – such as low-dose edibles and high-potency concentrates – that weren’t widely available in rec markets just a few