By Sean Williams, The Motley Fool

The marijuana industry has seemingly knocked down one barrier after another in 2018.

Arguably no event was bigger than the legalization of recreational marijuana in Canada on Oct. 17. Not only does lifting nine decades of prohibition in our neighbor to the north open the door for billions of dollars in added annual sales once the industry is running on all cylinders, but it provides legitimacy that the pot industry is here to stay.

Meanwhile, a handful of U.S. states wound up legalizing cannabis in some capacity this year. During the midterm elections, residents in Missouri and Utah voted to approve medical marijuana initiatives in their respective states, bringing the total number of legalized states to 32. Voters in Michigan also approved a recreational weed measure during midterms, which followed Vermont’s legislative approval of adult-use weed in January. In total, 10 states have given the green light to recreational pot.


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