2018 was a great year for marijuana legalization, with both California and Massachusetts beginning legal sales, Michigan legalizing recreational cannabis and other states legalizing it medicinally. So it's probably no surprise that 2018 was also a record year for cannabis investments.
The North American cannabis industry received over $10 billion worth of investments in 2018. That number is more than double the amount invested in the industry the previous three years, showing that 2018 was indeed a major step forward for the cannabis industry.
A huge part of the increase in investment is certainly the new markets that opened up. California began allow recreational sales last January, and then in October Canada legalized it nationally. Next year, the North American cannabis industry is projected to be worth $16 billion, so investors will be getting plenty of return on their money.
The best part about investing in cannabis now is that it really only goes up from here. States will continue to legalize marijuana recreationally (New York, Illinois and New Jersey are all planning to do so in the near future), and there is greater and greater pressure to do so at the national level as well. Basically, there's constantly new avenues for growth.
The question is whether 2018 will be the outlier year where investments went up a ridiculous amount, or if we'll continue seeing massive growth in investment going forward.