The state of Michigan has decided to give out $20 million from its recreational cannabis tax revenue toward medical marijuana research.
By December 2020, Michigan had experienced the highest sales growth of any legal cannabis market in the United States, realizing a 146% growth in gross merchandise value. This is according to data available from LeafLink, a wholesale cannabis marketplace. This is impressive growth considering that the sales of recreational cannabis began a little over 12 months ago.
The Michigan Marijuana Regulatory Agency (MRA) will begin on March 1, 2021 start accepting forms for adult-use marijuana permits from any candidate. Agencies will no longer have to acquire a medical cannabis business license when applying for the adult-use license. This move is expected to open new opportunities for entrepreneurs interested in Michigan’s retail adult-use marijuana industry.
Cannabis legalization in many states for recreational and medical purposes is driving a surge in interest in its benefit to treating various long-term symptoms and conditions. Among the new users are older adults. An increasing number of adults between 70 to 90 are learning how marijuana may relieve some medical conditions that come with their mature years.
In late December 2020, Michigan Gov. Gretchen Whitmer signed into law House Bill 5085, allowing veterinarians to consult with pet owners on the use of hemp or marijuana products for their animals. A legislative analysis, titled “Allow Consultation with Veterinarian on Use of Marijuana or Industrial Hemp on an Animal”, notes that it opens up the vets’ freedom to either advice against or recommend offering pets cannabis in different forms. Research has shown the ability of cannabis to aid in the management of common ailments in pets, such as lowering stress levels and reducing inflammation.
The state Marijuana Regulatory Agency (MRA) on January 4th issued their new year’s first technical bulletin “Process to Obtain Agency Approval for Production of Marijuana-Infused Beverages”. These regulations set rules for firms that intend on producing weed drinks to do so but under a new submission process that includes product testing to meet strict requirements.
Current research about cannabis falls into one of two categories. There’s the category of research that remains stalled and the category focused more on the harms of the drug than anything else. Marijuana researchers are faced with having to get funding from federal agencies, which is a problem considering marijuana remains illegal on the federal level. Doing research on the harms of marijuana is much easier considering the power that weed opponents yield in the fight to keep it illegal. The battle between states where marijuana is legal and federal agencies that have to abide by the fact that it’s illegal at their level rages on.
The hemp industry in Michigan is not that old at all. People have only been able to grow the crop since 2019. As such, new crops and businesses are coming out of the woodwork to take advantage of this new opportunity. With something so new, there are bound to be any number of challenges. While the bugs are being worked out and a process is being developed for not only growing hemp, but also getting it in the hands of people who want to buy it, the people who are taking part in this calculated experiment will have to carry on. Their efforts as pioneers in this budding industry should be recognized and what they discover must be remembered.
In 2019, a cloud fell over the marijuana industry that had nothing to do with their product being smoked. This cloud came in the form of people suddenly becoming ill with serious, life threatening lung diseases. Officials were left scratching their heads trying to figure out what was going on. Eventually they came to the conclusion that it had something to do with vaping, but they were having a hard time figuring out the exact cause. This confusion resulted in a ban on flavored nicotine vaping cartridges and considerably more scrutiny and regulations being placed on the industry.
States across the country are reporting increases in marijuana sales, breaking records they previously established in years prior. The amount of people who are purchasing marijuana legally goes up with each passing day. More states are legalizing weed, which will add more to the amount of money that’s brought in. Tax rates continue to climb as well, adding to the revenue being earned even more.
As marijuana continues to become legal throughout the country for medical or recreational purposes, states are continuing to grapple with the requirements they place on people who are trying to acquire marijuana. One requirement they’re beginning to discuss is requiring people who want to purchase marijuana to do so from businesses that are run by residents of that state. This particular requirement has nothing to do with whether or not the person who’s doing the purchasing is a resident. It’s all about limiting citizens from doing business with weed establishments run solely by people who live within the state.
As the state of Michigan continues to rake in money from the sale of recreational marijuana, many people in the state wonder why it is that the cannabis products they buy aren't decreasing in price. For those who shop for marijuana often, it may seem that the cost of cannabis products is too high and stays that way over time. Compared to the price of marijuana in other states where it is legal, it's true that Michigan can be more expensive, especially when compared with states like Colorado or Oregon. These states have well established recreational marijuana programs and plenty of supply to feed the market after years of working out the kinks in the system.
If you're a senior citizen who is getting ready to try marijuana for the first time in decades, you might be surprised by the other customers you see in the store with you. All across the nation, and here in Michigan, seniors make up a large portion of the people purchasing marijuana products. While some may just be looking to have fun by experimenting with the legal cannabis products, the majority are there to seek a natural form of relief from medical ailments.