The legal marijuana industry has come an exceptionally long way in a very short period. As recently as 2005, recreational cannabis was illegal everywhere, just a small handful of U.S. states were allowing medical marijuana to be prescribed by a physician, and a Gallup survey found that just one out of three Americans supported legalizing weed at the national level.

Today, two out of three Americans surveyed by Gallup favor legalizing pot nationally, 33 U.S. states have given the green light to medical marijuana (including 10 that also allow recreational cannabis), and Canada has become the first industrialized country worldwide to legalize adult-use cannabis. Having brought in close to $10 billion in global sales in 2017, the duo of Arcview Market Research and BDS Analytics expects the global weed industry to net $31.3 billion in annual sales by 2022.

Everything would seem to be perfectly conducive to growth throughout North America. But…

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