Michigan voters will likely get to decide on whether or not to legalize a statewide cannabis industry in 2016.

According to a report from Click Detroit, the Michigan Cannabis Coalition, one of the groups pushing to legalize recreational marijuana in the next presidential election, has already collected 40,000 of the required 252,523 signatures needed to earn a spot on the ballot.

"The public is responding to this issue and I think they're responding in large part because of the clarity and simplicity of the language, and what we're trying to create here is a new industry that's not just about marijuana but about creating new jobs and creating a new revenue stream," said Matt Marsden with Michigan Cannabis Coalition.

Unfortunately, a successful ballot initiative campaign comes with a hefty price tag. In states where marijuana has been made legal as a result of voter initiatives, millions of dollars are often poured into the effort well after the signature-collecting phase is complete. This could spell trouble for the Michigan Cannabis Coalition, which reportedly only has a little over $1 million in their bank account, according to a recent campaign finance disclosure.

It is for this reason that our money is still on MILegalize, a group well on track to affording the required signatures to get their initiative on the ballot. In addition, the organization also has enough support from the business sector to push campaign finances up to the necessary standard to actually get the job done.

One way or another, Michigan is on track to legalizing a recreational cannabis market in the near future.


More From Banana 101.5