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Nevada’s legal cannabis industry is at a crossroads — statewide taxable sales have fallen in recent years, a decline that cost the State Education Fund, which receives a portion of cannabis tax revenue, roughly $12 million compared with 2024. The state is also navigating a nearly 9% year-over-year sales drop in 2025, a persistent illegal market and a lack of options for tourists looking to indulge legally during their visits here.

Durrett said 30% percent of weed sales in the valley are in the illegal market, meaning the state loses out on $30 million in tax money.

The decline resulted in a drop in contributions from the cannabis industry to the State Education Fund.

After years of backing the legalization of marijuana in the U.S., The New York Times changed course in an editorial published Tuesday.

Nevada's illegal cannabis market remains resilient as dispensaries lower costs to appeal to customers on and off The Strip, according to policy experts and state data. The State of Nevada Cannabis Compliance Board released the taxable sales data for 2025, reporting nearly $758 million from the regulated industry, down 8.6% from last year.

Annual Nevada cannabis sales dropped to $758 million from July 2024 to June 2025, down from $829 million over the prior fiscal year, according to state Cannabis Compliance Board data released last week. But as in other states with declining sales revenue, Nevada cannabis retailers aren’t selling less product, according to one observer.

“Our analysis of the sales, unequivocally shows that people were not buying less, the prices were just going down,” Riana Durrett, executive director of the ���ӽ紫ý Cannabis Policy Institute, said. “And that is natural, and that’s expected to happen.”

The popularity of cannabis continues to rise in 2026, with statistics showing that around 15% of Americans are current users, and more than 22% have used it sometime in the past year. As more people cut out alcohol amid the Dry January trend, dispensaries have reported a surge in marijuana sales, leading to what some industry insiders and media outlets have dubbed "High January."