Nevada had another strong year of legal marijuana sales, topping $800 million for the third straight year.
Data from the Nevada Cannabis Information Portal shows that there was $636,604,252 worth of marijuana sold legally in Nevada between January and September. According to the research firm Headset, the state sold an additional $165,276,918 between October and December, bringing the yearly total to $801,881,170.
Around 75% of these sales came from Clark County, around 13% came from Washoe County, and the remaining 12% came from “all other counties”.
According to the Cannabis Compliance Board, the state has around 450 active marijuana business licenses, including over 100 for marijuana retail outlets and dispensaries.
Nevada voters legalized recreational marijuana in 2016, with the first licensed marijuana store opening the following year. The law allows those 21 and older are allowed to possess up to one ounce of marijuana and up to 3.5 grams of marijuana concentrates.
The state has a 10% excise tax on retail marijuana sales, which goes directly to the Distributive School Account to support K-12 education. There is also 15% wholesale tax on the cultivation and production of marijuana, which is split between the Distributive School Account and the state’s Rainy Day Fund, which is used for budget stabilization.
The $801 million in marijuana sold in 2024 resulted in around $110 million in tax revenue for the state.
According to Headset, the average price per eighth of dried marijuana in Nevada is currently $24.37, with the most popular strain being Runtz.
More articles from The Marijuana Herald can be found below.
