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Here’s a brief summary of the report

Today, the Nevada Cannabis Compliance Board is announcing its new name: Released a study Nevada cannabis market

The report contains local and national data that is required by NRS 678A.310 for the Cannabis Advisory Commission in order to conduct a study. The Cannabis Market Study also provides important industry information that gauges the overall health and performance of the Nevada market.

The Cannabis Market Study examined the current cannabis market, tax structures and the illicit market. The report includes a comparison of Nevada to other regulated markets, as well as the potential impact of federal law.

The following are some key takeaways:

• From 2020 to mid-2021, the monthly sales trended upward, probably due to stay-at home orders and increased spending because of stimulus packages. Since April 2021, however, monthly sales have been trending down, with seasonal upticks (notably March to May).
• Price, perceived quality, convenience, and state and local policies are all factors that contribute to the illicit market.
• Recommendations are to identify licensing opportunities in underserved regions and to launch a public awareness campaign.

The CCB hired TPMA to conduct the Cannabis Market Study. TPMA, its team and the data they provide are not influenced by the conclusions or analysis. To prevent bias, a mixture of academic literature, cannabis industry employees and consumers, as well as cannabis market research, was used to collect the data.

THE REPORT