$2,000 a day from a weed vending machine?

Recently, a Detroit man was arrested by police after he was discovered selling pounds of marijuana at his home. During the arrest, police also discovered about 18 firearms in his home and him skillfully operating a vending machine selling cannabis in front of his home. As the state moves toward cannabis legislation, it just can’t seem to wait for official approval.

According to a report, the suspect, identified as Marcellus Cornwell, made about $2,000 every day selling pills and weed through the vending machines. Apparently, the suspect has been illegally selling cannabis using the same cannabis vending machine for almost five years.

According to a report by WYXZ, police officers monitored the suspect’s home and took part in two separate cannabis purchases. The controlled purchase first took place around February, and the second time in March 2022 via the cannabis vending machine.

In March, after their suspicions were confirmed, a search was carried out at the recently identified address and finally Marcellus Cornwell and an unidentified man were arrested.

A profitable business

Cornwall admitted during questioning to police that most of his income came from the marijuana machine. He claimed that he rakes in an average of $2,000 every day, which gives him a decent living.

After several delays and hesitations, the Detroit City Council finally enacted legislation allowing the sale of cannabis for adult use. The announcement came very early in May after a landslide vote on cannabis legislation.

The announcement that hit the city sparked a land grab that led to a surge in the price of land in areas designated for cannabis dispensaries. This is an indication that Detroit is keen to meet up and monetize Michigan’s profitable cannabis industry. Obviously, Marcellus Cornwell couldn’t wait for the legislation.

New Opportunities Amid Detroit Recreational Cannabis Sales

On April 5, 2022, the Detroit City Council passed legislation 8-1 to allow the sale of recreational cannabis in the city. This is an important development after several months of delay and anticipation. Michigan approved the sale of recreational marijuana as a state a year earlier.

According to the legislation’s sponsor and City Council President James Tate, the legislation is purely pro-justice. Therefore, both brown and black Detroiters have equal opportunities to own cannabis businesses in the city of Detroit.

According to Tate, the legislation presents the most lucrative opportunity for legacy Detroiters and equity seekers to compete for the licenses. While making his statement on the legislation, Tate also reiterated that it was critical for the state to strategically assess and identify Detroit’s cannabis industry integration. He believes this is a better strategy compared to a “shotgun” approach, where the license is given to whoever wants one.

Impact of Cannabis Legislation on Detroit

According to the CEO of Common Citizen, a Michigan-based cannabis company, Michael Elias, passing adult-use legislation is a key win for Michigan’s largest city. He believes the legislation will help create new and more job opportunities while helping Motor City make a comeback.

During an interview with Benzinga, Michael added that the feat is a big deal for Detroiters and people who read in the surrounding neighborhood. He claimed many had been seeking access to recreational cannabis since its approval in 2018. He reiterated that the Common Citizen company looks forward to manufacturing quality and safe adult-use recreational cannabis products throughout Detroit.

The CEO of New Standard, also a Michigan-based cannabis company, Howard Luckoff, reacted positively to the announcement. He reiterated that registration is a big step for the city and its citizens, who no longer need to leave the city to get cannabis.

Michigan’s lucrative cannabis industry

Patrick L. Anderson, the CEO and director of the Anderson Economic Group, along with Andrew Miller, the AEG consultant, gave testimony on April 5, 2002. The testimony was given and proves the lucrative potential of Michigan’s cannabis industry

At the committee hearing, both speakers gave testimony on the economy and cannabis market numbers in Michigan. They evaluated their findings based on the latest research from AEG, which quantified demand for cannabis products within the state.

Some key points both speakers noted are:

• In 2020, Michigan recorded a cannabis market valued at approximately $3.2 billion with approximately 300 licensed retail outlets for adult use and 400 licensed medical centers. This account received 15% and 16% of the total market size respectively.

• Approximately 70% of cannabis use within the state occurred outside of retail locations. This was done either through illegal transactions, medical attendants, and home cultivation. This made up the remaining 69% of the market size.

According to Miller, the AEG consultant, consumer demand for marijuana has grown exponentially over the past six years. He went on to say that while the first medical center opened in 2018 and cannabis stores for adult use opened in 2019, many Michiganders were sourcing cannabis outside of retail centers in 2020.

A report published by Public Opinion Strategies and Greenberg Quinlan Rosner Research found that more than 75% of Michigan residents want recreational and medicinal cannabis to be covered under the same regulation. The regulation is said to cover security, testing, licensing and tracking.

The report also revealed that more than 80% of respondents support the need for unlicensed cannabis products to have their products tested for toxic elements. They believe these farmers should be subjected to similar testing standards as licensed processors and growers.

Conclusion

It’s evident that many are eager to tap into Detroit’s growing cannabis market, and no doubt the industry will be a big one once legislation is in full swing. Though the emotions and spirit run high, Marcellus Cornwell’s fall should serve as a cautionary tale lest you jump before the gun

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