Michigan marijuana sales, prices spike as recreational market takes hold

Michigan marijuana sales, customer prices and the number of licensed businesses are on the rise, but the total number of medical patients and caregivers are in a slight decline.

The Marijuana Regulatory Agency, which oversees the state’s marijuana industry, recently released statistical reports analyzing licensing costs, sales, retail prices and patient and caregiver registration activity related to both the medical and recreational marijuana markets.

Since the first recreational stores were opened on December 1, 2019, retailers have made $12.7 million in sales, which represents $2.1 million in combined sales and excise taxes to the state.

Michigan is host to 377 medical marijuana business licenses and 65 recreational licenses, including 37 retailers. We have a comprehensive report on Michigan coming as we begin to scale our "post-rec transition chaos" operation for a normalized Michigan market.

For a more comprehensive update on Michigan's cannabis market, click here for the full mLive article.

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