In case you haven't noticed, the legal cannabis industry is turning into a big-money business.
As recently as 2014, the global cannabis industry was just a seed that was beginning to find its roots. The duo of Arcview Market Research and BDS Analytics notes that worldwide licensed-store sales (i.e., legal sales that don't include cannabinoid pharmaceutical sales and general store cannabidiol revenue) were "only" $3.4 billion in 2014.
However, in 2018, global licensed-store sales surpassed $10 billion for the first time in history . And this could be just the beginning. With more U.S. states looking to legalize recreational marijuana in 2020 -- the United States is considered the crown jewel of the cannabis legalization movement -- and more countries giving medical marijuana the OK, the outlook for legal marijuana is certainly looking greener.
In fact, things are looking so good that one Wall Street firm recently raised its outlook for U.S.-based marijuana sales.