With the clock ticking for Michigan's Department of Licensing and Regulatory Affairs to develop regulations for recreational marijuana businesses, investors are moving forward with state and local permit applications and real estate acquisition.

State voters, who OK'd medical marijuana use in 2008, legalized the recreational use of cannabis this past November and use became legal Dec. 6. However, the state has until this December to draft final rules and grant the first licenses.

Here's an early look at some of the players — of all sizes — in or trying to enter the cannabis space, including medical marijuana providers and those hoping to sell recreational products in what's expected to be one of the nation's most lucrative markets.