The end of 2018 is approaching, and the cannabis industry is still extremely valued. Experts are predicting that 2019 will be a busy year for businesses interested in investing in Michigan’s still to-be-regulated recreational cannabis industry.
Michigan voted to legalize recreational cannabis in the mid-term election in November. Michigan is now one of almost a dozen states that allow possession of marijuana for recreational purposes.
It’s supposed to be another year before Michigan, will be ready to start authorizing commercial, recreational retail operations. However, with a potential market worth about $1.5 billion, investors are not expected to wait.
Karnes says possible investors are having to wade through changing zoning laws and other concerns as they try to get a hold in Michigan’s recreational market.
Karnes went on to say that external investors are approaching medical marijuana license holders to buy their way into Michigan’s market.
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