Economy

2018 was a bumper year for the (legal) marijuana industry

Updated : December 29, 2018 10:16 AM IST

This Sept. 11, 2018, file photo shows blankets of frost known as trichomes on a budding marijuana flower at an artisanal cannabis farm SLOgrown Genetics, the coastal mountain range of San Luis Obispo, Calif. Liberal California became the largest legal US marketplace, while conservative Utah and Oklahoma embraced medical marijuana. (AP Photo/Richard Vogel,File)

In this April 20, 2018, file photo, a young man smokes marijuana to celebrate the International Day for Cannabis in Mexico City. California became America's largest legal marketplace in 2018, while Canada became the second and largest country with nationwide legal recreational marijuana. And Mexico's Supreme Court set the stage for that country to follow, while governors in New York and New Jersey say they want broad legalization in their states next year. Photo Credit-AP

In this Oct. 20, 2018, file photo, bud tender Kansas, right, offers up a puff of cannabis concentrates at the Turtle Puddles' booth at the cannabis-themed Kushstock Festival at Adelanto, Calif. California became America's largest legal marketplace in 2018, while Canada became the second and largest country with nationwide legal recreational marijuana. Photo Credit-AP

In this July 12, 2018, file photo head grower Mark Vlahos, of Milford, Mass., tends to cannabis plants, at Sira Naturals medical marijuana cultivation facility, in Milford, Mass. The legal marijuana industry exploded in 2018, pushing its way further into the cultural and financial mainstream in the US and beyond. Photo Credit-AP

FILE - In this Sept. 25, 2018 file photo, marijuana plants grow in a tomato greenhouse being renovated to grow pot in Delta, British Columbia. The legal marijuana industry exploded in 2018, pushing its way further into the cultural and financial mainstream in the US and beyond. Photo Credit-AP

In this Oct. 17, 2018, file photo, people hold up a Canadian flag with a marijuana logo on it outside a government cannabis store in Montreal. California became America’s largest legal marketplace in 2018, while Canada became the second and largest country with nationwide legal recreational marijuana. Photo Credit-AP

In this Oct. 20, 2018, file photo marijuana clone plants are displayed for sale by Interstate 5 Farms at the cannabis-themed Kushstock Festival at Adelanto, Calif. California became America's largest legal marketplace, while Canada became the second and largest country with nationwide legal recreational marijuana in 2018. Photo Credit-AP

In this July 10, 2018, file photo medical marijuana supporters hold signs outside of an Oklahoma Board of Health meeting in an overflow room in Oklahoma City. Liberal California became the largest legal US marketplace, while conservative Utah and Oklahoma embraced medical marijuana. Canada ushered in broad legalization and Mexico's Supreme Court set the stage for that country to follow.Photo Credit-AP

In this Sept. 11, 2018, file photo Steve Fagan, grower and collective owner of SLOgrown Genetics, attends to his organically cultivated cannabis at his farm in the coastal mountain range of San Luis Obispo, Calif. California became America's largest legal marketplace in 2018, while Canada became the second and largest country with nationwide legal recreational marijuana. Photo Credit-AP

In this Sept. 26, 2018, file photo, Shiva takes a puff of a cannabis cigarette at the Women & Weed industry event in Los Angeles. California became America's largest legal marketplace, while Canada became the second and largest country with nationwide legal recreational marijuana. Photo Credit-AP

In this Tuesday, Sept. 18, 2018, file photo, people walk by the Cannabition cannabis museum in Las Vegas. The legal marijuana industry exploded in 2018, pushing its way further into the cultural and financial mainstream in the US and beyond. Photo Credit-AP

In this Oct. 17, 2018, file photo a depiction of a cannabis bud drops from the ceiling at Leafly's countdown party in Toronto as midnight passes and marks the first day of the legalization of cannabis across Canada. The last year was a 12-month champagne toast for the legal marijuana industry as the global market exploded and cannabis pushed its way further into the financial and cultural mainstream. Canada ushered in broad legalization, U.S. drug regulators approved the first cannabis-based drug and investors pumped in billions of dollars. Photo Credit-AP

In this Oct. 17, 2018, file photo, people line-up to purchase legal cannabis in Calgary, Alberta. California became America's largest legal marketplace, while Canada became the second and largest country with nationwide legal recreational marijuana. Photo Credit-AP

In this Jan. 6, 2018, file photo, customers line up to buy cannabis at The Apothecarium during the store's first day of recreational marijuana sales in San Francisco. California became America's largest legal marketplace, while Canada became the second and largest country with nationwide legal recreational marijuana. Photo Credit-AP