The Great Lakes State has the second-largest medical marijuana patient base in the country, trailing only gigantic California. A shift in Michigan’s medical marijuana market is no small event.
Major legal weed markets have opened up on the West Coast — California, Washington, Oregon, Nevada and Alaska — and New England, with Maine, Massachusetts and Washington D.C. But the Midwest remains largely untapped.
Michigan’s new licensing and seed-to-sale tracking system for medical marijuana opened for applications in December, and observers expect to see a ballot question on recreational marijuana in Michigan in November.
If recreational marijuana were legalized in Michigan, the regulated market “will likely serve as a catalyst for other states in the Midwest to rethink existing laws and follow suit with full legalization,” Matt Karnes, founder and managing partner at GreenWave Advisors, told Benzinga.
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