At the beginning of the month, Nevada became the fifth state to legalize marijuana recreationally on July 1st. The state has been doing so well in sales, that it has run out of weed. Within the first weekend of recreational marijuana sales, the Nevada Dispensary Association said the sales were around $3 million.
Nevada’s governor has endorsed a state of emergency declared for recreational marijuana regulations.
According to WQAD reports, the move came after the state’s tax authority declared that many stores are running out of weed.
The Nevada Tax Commission released the following statement: “Based on reports of adult-use marijuana sales already far exceeding the industry’s expectations at the state’s 47 licensed retail marijuana stores, and the reality that many stores are running out of inventory, the Department must address the lack of distributors immediately. Some establishments report the need for delivery within the next several days.”
The Commission will consider emergency regulations on July 13th.
“The business owners in this industry have invested hundreds of millions of dollars to build facilities across the state. They have hired and trained thousands of additional employees to meet the demands of the market. Unless the issue with distributor licensing is resolved quickly, the inability to deliver product to retail stores will result in many of these people losing their jobs and will bring this nascent market to a grinding halt. A halt in this market will lead to a hole in the state’s school budget,” the department also said.
