Detroit passes ban on recreational cannabis operations

In Detroit, Michigan, the city council passed a ban only five days after the state began prequalifying current operators for recreational sales.

The action is expected be temporary until at least January 31, 2020, as local lawmakers hope to create new city-specific regulations for the industry.

In the first full fiscal year, Michigan cannabis sales are expected to generate $180.5 million in taxes, according to the Michigan Senate Fiscal Agency figures outlined in the report. By 2022-2023, that is expected to reach $287.9 million. The tax revenues derived from cannabis will be used for schools and roads, and be split among the municipalities that opt-in.

With those revenue figures, the city ban will likely be temporary to say the least. helps early stage cannabis companies with working capital so that they can scale their businesses.