The Michigan cannabis market is on the rise since adult-use legalization took place 3 years ago. Medical cannabis establishments had a 2 year competitive advantage that many people expected to last until November 2021, but the regulation was lifted in November 2020, causing a huge rise in the competitiveness of the market. Previously to November 2020, the regulations required a business owner to have a medical cannabis license to apply for the recreational license. Since this has been lifted, more social equity opportunities have become available.
Medical Use: Yes
Adult Use: Yes
Market Potential
B-
Michigan is currently experiencing a boom in the cannabis industry, although competition is strong.
Licensing
B
There is no state cap, although the amount of each license is up to the local municipality. The annual fees are done on a tier basis for each different license type. See more information below.
Competition
C
The Michigan cannabis market is extremely competitive.