Nevada’s adult-use market, which began July 1, 2017, is already exceeding expectations. The Silver State is raking in tax revenue from its recreational sales, accumulating $30 million in the first six months of sales, according to the Nevada Department of Taxation, and recreational sales exceeded an average of $1 million per day. To put that in perspective, the state had projected to collect a total of $50 million in recreational sales tax revenue in its first 12 months.
Common sense would point to Nevada’s bustling tourism industry as one reason for the boosted numbers—but looking deeper, the cost of cannabis products in the state might also be a factor. According to Leafbuyer, an online cannabis deal database, Nevada’s average prices for both recreational and medical products were far above the national average for February (see image below).
Data provided by Leafbuyer. One of the most comprehensive online sources for cannabis deals and specials, Leafbuyer.com connects consumers with dispensaries. Leafbuyer Technologies (OTC: LBUY) works alongside businesses to showcase their unique products, build a network of loyal patrons, and as of June 2017, even find qualified employees. Leafbuyer’s cannabis content reaches millions of consumers monthly, and it serves as the official marijuana deals platform of thecannabist.co (owned by The Denver Post) and Voice Media Group (Westword, LA Weekly,Phoenix New Times, and Toke of the Town).
