Nevada and Arkansas bring in millions with legal cannabis
Here’s two more solid success stories from states that have legalized cannabis. First up, in Nevada, cannabis sales have hit $639 million on the year, a 20% jump over the same period a year ago. Most of those sales, as you might expect, are in the county where Las Vegas is — we’ve heard about big complexes opening up there (and even a drive-through weed shop at one point), but about 20% of sales still come from the rest of the state. The executive director of the Nevada Dispensary Association says that it’s not just tourists — residents are also “becoming more comfortable purchasing cannabis” in Nevada. The state approved 61 more licenses last year, though some of those licenses are apparently the subject of a lawsuit, and about 10 more have yet to be approved. Overall, however, it sounds like cannabis is making a good home in Nevada.
Arkansas is also doing well — that state has only legalized medicinal cannabis, but is still bringing in $7.14 million, selling about 1,000 pounds of the drug. There are only eight dispensaries in AR, with a ninth planning an opening this week. Obviously, $7 million is nowhere near the totals brought in by much bigger markets (including Nevada, Washington state, and California, currently the biggest cannabis market in the US), but it’s not bad for a traditionally conservative state like Arkansas.
And don’t forget that even states where cannabis isn’t legal are benefiting from these sales — they’re investing money in cannabis, even if they haven’t approved it yet. Cannabis sales can be beneficial to state budgets no matter what state you’re in.