Monumental developments in marijuana and hemp legalization made 2018 a watershed year for the global cannabis industry. These changes represent potentially seismic shifts in cannabis acceptance and hemp cultivation both in the United States and around the world as governments respond to increased access to the plant and exploration of its numerous reported health and wellness benefits.
The BIGGEST highlights of 2018 have marked this as the year in which Cannabis got the world’s attention:
January 2018: After legalizing marijuana in 2016, California opened the world’s biggest fully legal pot market on 1/1/2018. As the largest cannabis market in the United States, and the first state to establish a medical market in 1996, the golden state continues to lead the rapidly growing industry. Legalizing adult-use marijuana markets in the dozens of states where it remains illegal seems like the quickest and easiest path to more profits and continued robust growth. Expect more states to follow in California’s footsteps, and a likely acceleration to federal rescheduling and eventual legalization.
June 2018: the US Food and Drug Administration (FDA) approves Epidiolex, the first prescription drug made from cannabis. Used to treat rare forms of epilepsy in young children, the drug’s approval with have a far-reaching impact on CBD nutriceuticals, which are now considered Schedule 5 drugs that must be approved by the FDA.
June 2018: Oklahoma voters approve a ballot measure making the state the 30th in the nation to legalize medical marijuana.
July 2018: Tilray Inc., a Canadian company, becomes the first marijuana business to complete an initial public offering on a major U.S. stock exchange, raising $153 million as it began trading on NASDAQ.
August 2018: Constellation Brands Inc., the parent company of Corona beer and other alcoholic drinks, makes a $4 billion investment in Canadian cannabis company, Canopy Growth Corp.
October 2018: Canada legalizes adult-use marijuana for people 19 or older in most provinces. It’s the second country after Uruguay to legalize marijuana, and its status as a G7 nation lends further credibility to the growing global cannabis industry
October 2018: The Supreme Court of Mexico rules that individuals have the right to use marijuana under the scope of their ability to decide their own recreational activities. The decision represents a major step towards Mexico’s adult-use legalization, making both the United States’s northern and southern neighbors cannabis friendly nations.
November 2018: Dasheeda Dawson, in partnership in J.A.R.V.I.Z., releases “How to Succeed in the Green Rush,” The WeedHead™’s first workbook. It contains a step-by-step explanation of current opportunities within the cannabis industry and is designed to help people leverage their skills and passions to enter the industry quickly and successfully.
November 2018: Michigan legalizes adult-use cannabis during the midterm elections, becoming the first fully legal state in the midwest and the tenth overall. Missouri and Utah approve medicinal marijuana.
December 2018: New York Governor Andrew Cuomo comes out in support of marijuana legalization, sets an agenda for an adult-use legalization bill during the first 100 days of the 2019 term.
December 2018: President Donald Trump signs a farm bill into law that reclassifies industrial hemp, and removes it from the list of federally controlled substances.
December 2018: Dasheeda Dawson and her brand The Weedhead™ make history on New Year’s Eve as part of the first ever cannabis related campaign featured on Times Square billboards.
2019 is sure to be another banner year in the cannabis industry. Are you ready to learn how to become a part of the Green Rush and leverage your existing skills and experience to build a side-hustle, make a good living, or launch an empire? Sign up for our MJM Learn educational portal for books and courses!