According to the Reno-Gazette Journal, Nevada dispensaries are beginning to run out of pot, and only a week after recreational marijuana legalization went live throughout the state.
It is no surprise that dispensaries participating in this program have done exceptionally well in wake of full-blown adult-use legalization. On July 1st, hundreds of Nevadans and visitors lined up outside of dispensaries to be a part of that historic day. Waits as long as two hours have not stopped Nevadans from joining others in lines that extend down the block, and dispensaries are now beginning to feel the strain of demand. Sales are already projected to reach $3 million by the end of the year, with $1 million in tax revenue going back to the state.
47 licensed retailers exist within Nevada’s borders so far, most of them in the Las Vegas area. They have facilitated over 40,000 sales during the last weekend alone.
Governor Brian Sandoval has endorsed the state tax department’s “statement of emergency,” which will create a fast-tracked program for more pot distributors to get the appropriate licensing to sell in the state of Nevada. This measure will be voted on, on Thursday.
“Unless the issue with distributor licensing is resolved quickly, the inability to deliver product to retail stores will result in many of these people losing their jobs and will bring this nascent market to a grinding halt,” says tax department spokeswoman Stephanie Klapstein. If a halt were to befall the legal pot market, this will have a negative impact on state school budgets-where much of the tax revenue from legal pot sales is being appropriated.
In November, alcohol distributors were promised exclusive rights to transport wholesale cannabis within the first eighteen months of legalization. The state has received seven applications from these distributors, but none of them yet qualify for the necessary licensing.