U.S. Markets open in 2 hrs 27 mins

As Michigan's Recreational Cannabis Market Develops, State Pushes Back Against Unlicensed Operators


As Michigan’s budding recreational cannabis market develops, efforts are underway to quash competing illicit sales, according to the state’s top marijuana regulator.

Michigan voters approved a ballot question on Nov. 6, 2018 that legalized adult use cannabis, and the Marijuana Regulatory Agency issued emergency rules July 3 of this year for the rollout of the recreational market. Sales of recreational cannabis began Dec. 1.

More than $3 million in marijuana was sold at recreational retailers in the first two weeks of December, generating $515,051 in tax revenue, according to the state.

The state is focusing on the illicit market, Andrew Brisbo, the Marijuana Regulatory Agency’s executive director, said Wednesday in remarks at Benzinga headquarters.

That doesn’t mean a crackdown on low-level weed dealers, but rather on operations such as brick-and-mortar facilities operating as regulated businesses, he said.

“I think we’re going to start to see more action taking place in that area as well.”

To read more, click here.

Image by SeaweedJeezus from Pixabay


See more from Benzinga

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.