Recreational marijuana is now for sale in Nevada. As of midnight Saturday, weed went on sale in Nevada, making it the eighth state in the country that allows the purchase and selling of marijuana in pot dispensaries.
How does Nevada’s recreational marijuana business work?
Nevada law states adults ages 21 and older can possess up to an ounce of marijuana following a law that was approved by voters in November 2016. Moreover, adults who smoke in public could be charged up to a $600 fine. In fact, marijuana is prohibited in casinos, bars, restaurants, parks, concerts, and on any federal property. Essentially, the consumption of marijuana in Nevada is for private use only and restricted to homes.
Can you buy marijuana in Las Vegas?
While the state allows for the purchasing of marijuana for recreational purposes, due to federal drug laws and state casino laws, dispensaries cannot be located on the Las Vegas strip.
What is the future of legalization in America?
John Kagia, an analyst for New Frontier, told CNN that the national market for marijuana could reach over $20 billion in the next three years. Kagia also explains that it could potentially bring over 200,000 new jobs the U.S.
“Despite broad political division in the country, cannabis seems to be the one factor that has drawn universal support,” said John Kagia, said. “This has exceeded the expectations of even the most Pollyanna-ish industry participants.”
New research claims the annual sales of pot in California could reach nearly $8 billion by 2020. Moreover, legalization can bring more jobs for businesses that are not directly related to marijuana. Kaiga says weed legalization can create “income opportunities for businesses that do not touch the plant but serve the needs of the industry.”
That said, the Drug Enforcement Agency currently classifies marijuana as a Schedule 1 controlled substance, which is on the same level of heroin.