Despite numerous companies jumping into the cannabis space in the Great Lakes State, operators say Michigan’s early success in the legal adult-use market has them anticipating even more positive days to come.
A Growing Cannabis Market: Many in the industry say they’re optimistic about Michigan s booming legal market, launched in December 2019, as its strong performance shows no sign of slowing down.
Data from analytics firm Headset shows that cannabis revenue for March 2021 alone had reached $115.4 million, setting a new record for the Wolverine State.
Josh Genderson, founder and CEO of vertically integrated Holistic Industries, said that Michigan has been big on cannabis for some time, pointing out that medical marijuana was legalized in 2008. He called Michigan’s successful industry the closest thing to the California market in the Midwest.