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State-Wide Cannabis Revenue Is Down Due to Inflation

By TheNevadaGlobeStaff, October 6, 2022 2:22 pm

LAS VEGAS, Nev. (702 Times, NV Globe) -Statewide cannabis revenue is down, according to the state’s cannabis board.

People appear to be opting to spend their money elsewhere when petrol, food, and other necessities become more expensive.

According to a recent Cannabis Compliance Board report, marijuana taxable sales increased by 4% in fiscal year 2022 compared to fiscal year 2021.

According to the statement, the sector did suffer a drop in sales in the first half of the year, and cannabis firms are not immune to the impacts of inflation as customers shift their spending patterns.

The state education fund received over $150 million in income this year.

Credits: News3LV

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