Detroit Finally Opens Second Round Of Marijuana Licenses With Equity Focus

Detroit is set to accept applications for the second round of limited marijuana business licenses, with half reserved for "equity applicants" from communities disproportionately affected by marijuana prohibition.

The round offers 30 marijuana retailer licenses, 10 microbusiness licenses, and 10 consumption lounge licenses, aiming to drive growth and accessibility in the local cannabis industry.

After facing legal hurdles and addressing constitutional concerns, the city is actively working to reduce zoning restrictions and host informational sessions to guide applicants.

Successful candidates will be notified approximately six to eight weeks after the August 31 deadline.

The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

Interested in investing in the cannabis industry? Take a look at the following ETFs: 

• Cambria Cannabis ETF (BATS:TOKE) 
• Amplify Seymour Cannabis ETF (NYSE:CNBS) 
• AdvisorShares Pure Cannabis ETF (NYSE:YOLO) 
• ETFMG Alternative Harvest (NYSE:MJ) 
• AXS Cannabis ETF (NYSE:THCX) 
• Global X Cannabis ETF (NASDAQ:POTX) 

Photo by Estée Janssens on Unsplash.