Three years ago, cannabis industry stakeholders viewed New York as the state most likely to dethrone California as the nation’s largest regulated marijuana market.
Today, Michigan leads the nation in several key metrics.
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With almost four times the population of Michigan, California’s regulated marijuana market should be comfortably outselling Michigan.
But it’s not.
California’s marijuana hurdles
Recreational sales in California have been slowly declining, falling 17% since they peaked in April 2021 at $432 million.
High taxes, bureaucracy and continued pressure from the illicit market have created an unfriendly business climate in California, causing many operations to struggle and even close.
Meanwhile, Michigan’s booming recreational marijuana market has been punching above its weight and is finally closing the gap – even surpassing top-ranked
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