After approval from both voters and state lawmakers, sales of recreational marijuana products in Nevada have reached more than $5 billion.
Sales peaked during the pandemic in 2021 at more than a $1 billion. They’ve fallen since then but remained around $800 million in 2024.
Even though it’s legal, some issues have vexed the industry for all those years. That is, banks are loathe to provide standard banking services to marijuana businesses because the federal government still classifies marijuana as a Schedule 1 illegal drug.
Some argue sales would be higher if not for that limitation.
But could that change now that Nevada Representative Dina Titus has been promoted to co-chair of the Congressional Cannabis Caucus? She’s been advocating for wider cannabis access for years.
Then we speak with Layke Martin, executive director of the Nevada Cannabis Association and a professor of Cannabis Policy at UNLV, and Riana Durrett, vice chair of the Cannabis Compliance Board and director of UNLV’s Cannabis Policy Institute about the state of the cannabis industry, now in its eight year in Nevada.
Guests: Dina Titus, congresswoman and co-chair, Congressional Cannabis Caucus; Layke Martin, executive director, Nevada Cannabis Association and professor of cannabis policy, UNLV; Riana Durrett, vice chair, Nevada Cannabis Compliance Board and director, UNLV's Cannabis Policy Institute