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Recreational Weed Hits Nevada on July 1st - Here's the Details

June 23, 2017

 

When Nevada voters legalized adult-use of cannabis in the November elections, it was estimated that it could "give the Nevada economy a $224.2 million boost in 2018, creating thousands of jobs." It seems like that boost is coming to fruition, because between May 15th and May 31st, the Nevada Tax Commission was accepting applications from medical marijuana establishments that were interested in becoming recreational establishments.

 

Now, Beginning on July 1st, recreational marijuana becomes legal in the state of Nevada. With many tourists flowing through Las Vegas every day, people from all over the world are wondering where they're going to get their cannabis this coming Saturday, and what the laws are regarding consumption.

 

The Laws

 

 (Photo Credit - Tomás Del Coro)

 

Since recreational weed will be available to both tourists and residents, we figure'd we'd brief the visitors on what's legal and what's not. First off, you must be 21 years of age or older to purchase marijuana, and must have a valid ID to do so. Beyond that, it's important to note that the consumption of cannabis in casinos or other public places is absolutely prohibited. 

 

The Dispensaries

 

 

Now that we've gone through the laws, we can help readers find what they're looking for. We've determined that we can expect a maximum of 132 recreational marijuana retailers, a.k.a. dispensaries, state-wide. With that said, not all of those permits have been awarded yet. Of the 132 potential retailers, a maximum of 80 will be in Clark County, home to sin-city. 

 

For those traveling to the strip on or after July 1st, you'll be happy to know that Vegas' own cultivator and dispensary chain, The Grove, will be open for business. The company has two medical marijuana dispensaries currently open, and they are expected to be ready for recreational within the next 8 days. For more marijuana dispensaries in Las Vegas, and all over Nevada, be sure to check out Weedmaps for a comprehensive list. 

 

The Investments

 

 

Many medical cannabis establishments in Nevada will be converting to recreational cannabis companies as early as July 1st. Friday Night Inc. (CSE:TGIF), which is a producer and retailer of medicinal marijuana, began trading on the CSE recently.

 

In anticipation of the recreational legalization, other companies like Player's Network (OTC:PNTV), Marapharm Ventures (OTC:MRPHF), and Maple Leaf Green World (OTC:MGWFF) have been scooping up land and locking down the permits necessary to cash-in. 

 

Be sure to subscribe to one or more of our free newsletters so you never miss an important cannabis update. Also, don't forget to connect with The Daily Marijuana Observer via Facebook, Twitter, and Instagram

 

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