After five straight years of consistent growth, Michigan's adult-use cannabis market is showing signs of burnout. Prices are at rock bottom, dozens of companies are in financial freefall, and state lawmakers say it's time for regulators to start pumping the brakes.
New legislation introduced this month would put hard limits on the number of dispensaries allowed in every Michigan community, halt new large-scale growing operations, and pull the plug on certain hemp-derived products that have flooded store shelves without testing or regulation.
Bill sponsors and supporters say the plan is a necessary step to stabilize an oversaturated industry and protect Michigan stoners from sketchy products. But critics warn the changes could freeze out small businesses, create monopolies for the big players, and undo parts of the 2018 voter-approved law that made Michigan one of the country's most competitive weed markets.
A six-bill package, sponsored by Democratic state Sens. Sam Singh, Jeremy Moss, and Dayna Polehanki, would effectively overhaul how Michigan regulates marijuana and hemp products. And they say Michiganders can expect additional cannabis-related bills in the "near future."
Read more at The 'Gander
