Pot has undeniable appeal for businesspeople, including some in the Nevada gaming industry. One study has projected taxes of $1 billion in the industry’s first seven years, with most of the receipts earmarked for education. In the most recent fiscal year, Nevada saw more than $1 billion in retail sales, which generated $160 million in tax revenue. To no one’s surprise, weed has been a moneymaker. The RolloutĬannabis became legal for medicinal use in Nevada in 2000, with recreational use approved in 2017. (The “expungement” part refers to the possible resentencing of people with cannabis convictions.)Ĭould the MORE Act bring together Nevada gaming and the budding pot industry? The two recreational businesses may seem complementary, but are now strictly separate, on order of the state Gaming Control Board. If passed in the Senate, the MORE Act would take pot off the federal list of controlled substances and allow states to grow their cannabis industries-both medicinal and recreational-without fear of federal intervention. House of Representatives passed the Marijuana Opportunity, Reinvestment and Expungement Act by a 220-204 vote.
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