MICHIGAN—Corporate cannabis companies are sweating. Small growers are thriving. And top officials at the state’s Cannabis Regulatory Agency are keeping everyone on edge.
Here’s what you might’ve missed from the world of weed:
BORDER BOOMTOWN: New Buffalo is being dubbed “Weed City, USA.” Just a mile from the Indiana line, this tiny tourist town has exploded into what might be the busiest corner of the state’s recreational cannabis market—raking in $40 million a month, mostly from out-of-state buyers dodging prohibition and Illinois’ sky-high prices, reports Crain’s Detroit Business.
BIGFOOT BEEF: A Michigan dispensary is catching heat for putting a giant Bigfoot statue outside its shop. Some local residents have complained the mythical stoner mascot might lure in children. The shop says it’s just a statue. Bigfoot, as usual, could not be reached for comment.
SALES SLUMP: Michigan’s weed market just hit its first real downturn. Adult-use cannabis sales have dropped year-over-year for four straight months—something that hasn’t happened since legalization. Dispensaries still moved more product than ever, but plunging prices and oversupply are dragging down profits and tax revenue. The average price per ounce? Only $63.
REGULATOR WARNING: Michigan’s top cannabis regulator is lobbying for stronger enforcement powers—including the ability to immediately suspend licenses of businesses caught breaking state rules—as a way to help curb oversupply on the market. Officials have also suggested new caps may be needed to limit the number of cultivation facilities in Michigan.
BRANDED BUT BUDLESS: JARS Cannabis is expanding its presence at Pine Knob and Freedom Hill this summer. The brand now has booths, banners, and big weed energy at both venues as part of a lifestyle play with 313 Presents. For now, it’s only merch, not marijuana.
GROW HEIST GONE BAD: Three men were sentenced to federal prison this month for trying to rob an unlicensed marijuana grow in Coleman. The late-night heist reportedly turned into a gunfight when the property owner opened fire, wounding one of the suspects. After the foiled robbery, federal agents returned to the facility and seized 227 plants and 137 pounds of weed.
READ MORE: 6 quick hits of cannabis news from across Michigan
Want more cannabis news delivered right to your inbox? Click here to sign up for The MichiGanja Report—our free weekly newsletter about all things marijuana.
