Michigan Marijuana Prices Hit Record Low

In October, Michigan saw its average retail price for an ounce of marijuana drop to $73.99, marking a significant decline and reflecting a 21% year-to-date price decrease. Cannabis sales in the state totaled $268.6 million, with adult-use sales increasing to $267.6 million, while medical sales fell sharply to just $1 million. The oversaturated market and product oversupply are driving prices down, despite a notable increase in the volume sold. Michigan continues to lead the nation in per capita cannabis sales, generating substantial tax revenue. Meanwhile, Ohio's recreational cannabis sales are steadily rising, though they have not yet reached explosive growth, with over $155 million generated since August. Dispensaries in Ohio face regulatory challenges, particularly concerning product marketing and availability, but overall supply remains stable.