Michigan’s adult-use cannabis application process got off to a fast start Friday, with regulators giving “prequalification” approval to two existing medical cannabis operators before 9:30 a.m. local time.
But a spokesperson for the state Marijuana Regulatory Agency told the Detroit Free Press that the second stage of the approval process will take a few weeks.
Marijuana Business Daily projects that Michigan’s adult-use market will reach $1.4 billion-$1.7 billion in annual sales when it matures.
But initial business opportunities will be limited because more than 1,000 municipalities have banned or limited rec MJ businesses.
The quick prequalification approval for some applicants was made possible because those businesses had gone through a lengthy vetting process in order to get their MMJ licenses.
It also reflected the fact that Michigan recently streamlined a process that had gotten bogged down under a five-member, politically appointed medical marijuana licensing board.
While most businesses applied online, some did so in person.
The Free Press cited one example where nine boxes of documents were submitted by a law firm for three clients.
For more about this story, click here.