| Nevada has an active adult-use and medical marijuana industry and is notable for high levels of tourism. Nevada’s industry operates in the shadow of the gaming industry, which has significant interest in retaining its central role in the tourism economy and is currently prohibited from direct involvement in the marijuana industry due to federal illegality. | |
|---|---|
| Legalization Dates: | Adult-Use – Jan 1, 2017 Medical – |
| Relevant Legislation: | Nevada Medical Marijuana Act – Approved by voters in 1998 Assembly Bill 453 – Legalized medical use in 2001 Senate Bill 374 – Established commercial medical marijuana on June 12, 2013. Nevada has reciprocity for medical marijuana card holders from other states. Initiative to Regulate and Tax Marijuana (Question 2) – Approved by voters in 2016 Assembly Bill 533 – Created Cannabis Compliance Board Senate Bill 32 – Provided additional disclosure regarding adult-use industry Assembly Bill 341 – Legalized cannabis consumption lounges Summary of Nevada State Marijuana Laws (Cova) |
| Regulatory Bodies: | Nevada Department of Taxation’s Marijuana Enforcement Division Cannabis Compliance Board https://marijuana.nv.gov/ |
| Licensing Model: | Limited licensing – The ballot initiative that led to adult-use legalization set a maximum number of retail outlets. Those already holding medical marijuana licenses had first access to adult-use licenses. I was directly involved in litigation regarding the process used by the state of Nevada for issuing additional adult-use licenses. |
| Example Firms: | Green Thumb Industries (Essence), Planet 13 Holdings, Acres Cannabis |
| Industry Associations: | Nevada Cnnabis Association (formerly Nevada Dispensary Association) Las Vegas Medical Marijuana Association |
| Notable Events | August 24, 2015 – First dispensary, Euphoria Wellness, opened |
| Articles: | CCB Releases Annual Demographic Study of Nevada’s Cannabis Industry (March 16, 2022) Betting on Cannabis – December 8, 2019 – The Nevada Independent Marijuana Coverage from the Nevada Independent Las Vegas is Legalizing Cannabis Consumption Lounges – Cannabis-law.ca Nevada marijuana dispensaries still finding their niche (Las Vegas Review-Journal, April 2018) |
| As of June 15, 2022 |
An academic perspective on the emerging legal industry in the U.S., Canada and beyond by Prof. Paul Seaborn, McIntire School of Commerce, University of Virginia.
Business of Marijuana 