Weed photo by deposit photos
Many saw the weed industry in Michigan as a place to rake in big bucks.
But with weed shops popping up everywhere in Detroit and the suburbs, the highly competitive industry is now fighting to survive.
Dustin Walsh of Crain’s Detroit Business reports that the industry is faced with a rampant oversupply, which continues to suppress prices—not to mention a new 24 percent wholesale tax in Michigan that goes into effect in January. Marijuana flower reached historic lows in November, Crain’s reports.
Crain’s projects that total marijuana sales in 2025 will decline by nearly 4 percent from 2024. And it’s a national trend: the U.S. cannabis industry has peaked.
