It May Be Legal to Buy Weed in Nevada, But It’ll Cost You
It was a momentous occasion when the sale of recreational marijuana became legal in Nevada earlier this month, with sales exceeding expectations. Already, hundreds of thousands of dollars of tax revenue has been generated for the state, and it’s predicted that sales could reach $30 million by year’s end.
High Price Tag, High Profitability
Those who have visited Nevada and its flagship city of Las Vegas know that nothing is cheap within the state, and this certainly includes marijuana.
If you want to buy an eighth of legal marijuana in Nevada, it’ll cost you $80.
Looking for an ounce? Prepare to cough up $400 for your supply.
Will People Still Buy?
People flock to Nevada in search of a good time and are usually prepared to pay a bit more for what the state of Nevada offers. Evidently, this will also include the privilege of buying legal marijuana in some of the highest-quality strains.
These prices are a tough one to swallow. In other legalized states, such as Colorado, consumers see dispensaries selling their product as low as $25 per eighth.
It’s unclear what effect these high prices will have on the black market.
Since it’s illegal to carry marijuana across state lines, those wanting to smoke in Nevada will have no choice but to pay for it.
As legalization has been making progress across the world, different states and countries are taking different approaches to pricing regulation.
In Uruguay, for instance, legal marijuana is available at $1.30 per gram, which has been set to offer prices significantly lower than the street market value. This move comes with the intention of stamping out the black market to push for more regulation.
Time will tell how these prices will impact other types of economies in the state.
No Signs of Stopping the Cannabis Economy
Sure, it will be really expensive to smoke legal cannabis in Nevada, which is undoubtedly disappointing for Nevada locals.
As one of the most expensive states to visit, the prices should be no surprise to anyone going to enjoy legal marijuana in Nevada.
Whether it be to Sin City, Reno, or across the state’s landscapes, marijuana enthusiasts, and marijuana tourists, will be a huge contributor to that $30 million in revenue expected to flood into the state by the end of this year through legal marijuana.
Where there’s pot, there’s smokers.