In this week’s Northern Express—sister publication of The Ticker—cannabis is in the spotlight. On the one hand, Michigan retailers sold more marijuana than ever last year—a combined 7.4 million pounds of flower, edibles, and vapes, according to reports from the state’s Cannabis Regulatory Agency (CRA).

But all is not well. Despite record demand, 2025 was the first year since recreational weed sales began where revenues actually declined in Michigan. Also on the downward slide is the state’s number of licensed marijuana dispensaries, a clear indicator of industry consolidation. Add a new statewide excise tax many retailers view as an existential threat, and it’s possible the high times are over for Michigan’s marijuana market. Read more here.

Pick up a free copy of this week’s Northern Express, available to read online or at one of nearly 650 spots in 13 counties across northern Michigan.