Taxable sales for cannabis in Nevada declined in the last year

By Jason Hidalgo, Reno Gazette Journal 

Taxable sales for cannabis in Nevada declined in the last year, mirroring a rare nationwide drop for the legal weed industry.

Nevada’s cannabis industry reported nearly $758 million in taxable sales for the fiscal year from July 2024 to June 2025, according to the latest data from the Nevada Cannabis Compliance Board and the Nevada Department of Taxation.

The number, which includes products from licensed adult-use cannabis retail stores and medical marijuana dispensaries, represents an 8.6% decrease compared to the previous fiscal year’s taxable sales of $829.2 million.

Cannabis taxable sales were down across the board in Nevada, including Clark County and Washoe County.

Clark County, which includes the Las Vegas area, led the decline in cannabis taxable sales in the state. Clark County generated the most taxable sales for cannabis in Nevada at $567.6 million but was down nearly 10% from $628.4 million the previous fiscal year.

Washoe County, which includes Reno and Sparks, saw $105.8 million in cannabis taxable sales during the same period, down 6% year over year. The remaining counties of Nevada reported $84.3 million in taxable sales for legal weed, a decrease of 4%.

Nevada’s decline in taxable sales for cannabis reflects a trend seen nationwide.

Revenue for the U.S. cannabis industry in 2025 is projected to reach between $29.1 billion and $29.6 billion, according to global cannabis and hemp industry tracker Whitney Economics. The numbers represent a decline from $30.1 billion in 2024, a first for the American cannabis industry, according to cannabis point-of-sale company Flowhub.

Originally, Whitney Economics was projecting a 14% increase for 2025, which it later changed due to issues related to pricing competition, tax challenges and the impact of substitute products, according to Flowhub.

Despite the decline, Nevada’s cannabis industry still generated sizable revenues for education. Nearly $96 million was given to Nevada’s State Education Fund from cannabis excise taxes, which are factored into the price of cannabis products.

Local governments also saw $5 million as a whole from the cannabis excise taxes.

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