2019 Marijuana Industry Predictions and Trends
Last month, the Cannabiz Media team attended MJBizCon 2018 in Las Vegas, Nevada. One of the highlights at the conference was the opening State of the Industry: Developments, Data & Trends by Chris Walsh, Founding Editor and Vice President of Marijuana Business Daily.
During his keynote presentation, Chris covered important developments, trends, and predictions for the marijuana industry. Following are some key points that stood out to me.
Chris touched on a number of developments in the marijuana industry that happened during 2018 such as the challenges with California, Massachusetts, and Canada rollouts and the failed legalization of recreational cannabis in North Dakota (although this wasn’t a surprise).
He also talked about the legalization of recreational cannabis in Michigan, which is estimated to be a $1.4-$1.7 billion market making it the second largest market in the United States. Michigan is the first recreational state in the Midwest, so it remains to be seen if legalization there will have an effect on surrounding states.At least six countries will legalize medical marijuana, and at least one will legalize recreational marijuana. The Canadian bubble will pop (or deflate). Three states will legalize medical or recreational marijuana. He mentioned New Jersey, Illinois (with its new pro-marijuana governor), and New York as possibilities. A sizeable mainstream company will make a US marijuana play. There will be a federal breakthrough related to cannabis.