Michigan sales started on Sunday, and hundreds waited for their chance to take part of history…
Sales of recreational cannabis started on Sunday in Michigan, and the Detroit Free Press said that hundreds of people were waiting in line at different dispensaries in Ann Arbor to take part in the historic event.
There’s actually a video of it I have shared in the web version of this article.
There was talk that sales would start on Monday or Tuesday, so I’m impressed that regulators cut their Thanksgiving weekend short to make sure everything was ready to go on December 1.
Only three dispensaries – all in Ann Arbor – had the adult-use license that was necessary to sell recreational cannabis on Sunday. That was good for fans of the Michigan football team after the Wolverines got pounded by Ohio State.
A lot of people were looking for an escape.
In terms of what’s allowed, cannabis companies can move up to half of their medical inventory to recreational sales, as long as there is enough medical inventory to cover demand.
It’s a slow start, but that’s okay.
We want states to get things right.
Michigan Joins the Recreational Marijuana Club Early
State officials in Michigan have a can-do attitude when it comes to recreational cannabis. Recreational launches always seem to be weighed down by delays, but Michigan officials were actively pushing to make legal, adult-use cannabis available to consumers sooner. Sales were supposed to start on January 1, 2020.
And in the video below, you can see how excited people were to buy legal cannabis.
Many states have regulators who sometimes seem to dislike the industry they are tasked with helping to succeed.
Michigan is different, and that will help growth over the next year. Michigan was projected to bring in over $800 million by 2025 from just medical sales, so recreational legalization could put them on the fast track to become a market with over $1 billion in cannabis sales.
And one of the reasons for pushing up the sales date is to help fight against black market sales.
Medical marijuana patients dropped from 297,515 patients in late 2018 to 276,253 as of November 1.
With medical states like Florida, Arizona, and Oklahoma growing its patient list, that’s obviously an issue for the Michigan cannabis market.
But with Michigan joining the recreational cannabis club earlier than expected, it’s a good opportunity for the state to try and start converting black market buyers into legal buyers.
Also, this fits right into the bigger picture that we know how the story is going to end. There are so many events that will propel the industry forward that it’s almost hard to keep track of.
If you’re worried about navigating this ever-changing market, we’ve got your copy of the 2020 Pot Profits Roadmap ready to go. Learn how to grab it today.
In 2020, recreational sales will kick off in Illinois.
The MORE Act, or something like it, could pass and let states regulate cannabis as they see fit.
Residents in Arizona, Florida, New York, and New Jersey could all have the chance to vote to legalize recreational marijuana in their respective states.
And that’s just in the United States.
There’s a lot to look forward to, and I’m glad you’re here with us.
If you haven’t already, I wanted to make sure all our members were able to access this guide about the cannabis stocks to put on your radar for 2020.
Executive Director, National Institute for Cannabis Investors
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3 responses to “Cannabis Is Now Available in Michigan”
December 02 2019