In July 2021, Michigan’s marijuana sales hit a record-breaking net high of US$171 million. Since its cannabis legalization in December 2019, Michigan has been pulling numbers many newly emerging cannabis markets would only dream of.
Shifting legal frameworks and the rapidly growing popularity of cannabis use throughout the Western world have made Michigan’s emerging marijuana market a big beneficiary of legalization in the US. Not only has Michigan’s cannabis market been big, but it is also rapidly becoming one of the biggest.
This article will outline Michigan’s rise as a dominant force in cannabis sales through the US and current opportunities the state presents to investors and cannabis companies looking to get unparalleled exposure to the internationally growing cannabis market.
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The Michigan cannabis market: An overview
In December of 2019, Michigan became the 10th state in the US to legalize adult-use cannabis. With significant enthusiasm and proactive growth, first movers in the state were quick to establish strong positioning in various economic avenues surrounding cannabis, which have had tremendous growth ever since.
According to the Michigan Marijuana Regulator Agency, the state saw a combined US$985 million in sales from medical and...
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