Nevada’s recreational marijuana sector is booming. A 12-member panel of Nevada Gaming Policy Committee will review whether the state’s casino industry can coexist with the recreational drug, marijuana.
Cassandra Farrington, the CEO of Marijuana Business Daily, a Colorado-based news outlet, will present the case of why the drug should be allowed inside casinos, whereas attorney Brian Barnes will explain the government’s position on the subject.
During last November’s election, Nevada had voted in favour of allowing the recreational marijuana. The ballot question had passed 54 percent to 46 percent. However, it is unlikely to push policy makers as the federal government maintains that marijuana is a Schedule I drug along with heroin, LSD, and ecstasy.
The review would not lead to casino floors becoming inundated with pot. Earlier last summer, the state’s Gaming Commission had busted the rumors that gambling and marijuana might be able to work together.
The odds of marijuana’s entry in casinos seem very long. Commission Chairman Tony Alamo has already explained that Marijuana is a Schedule 1 drug and using it is illegal under federal law. He further clarified on the objective of setting up the review panel saying that the policy is not being set but this is just a discussion to interpret the law as it stands.
The Gaming Policy Committee comprises some of Nevada’s most influential leaders – including Governor Brian Sandoval (R) and the CEO of the state’s largest employer, MGM’s Jim Murren. Representatives from the Nevada Department of Taxation will also attend the review.
Earlier this month, The Marijuana Business Conference and Expo, the largest cannabis conference in the world, was held at the Las Vegas Convention Center. It attracted over 10,000 attendees and 700 vendors.
Once the market is fully matured, Nevada expects to raise $120 million in annual marijuana taxes.