At the moment, "there are dozens of studies taking place to evaluate the medical safety and efficacy of psychedelics, including psilocybin, and the potential benefits of psychedelics as a treatment for cluster headache, anxiety, addiction to alcohol and other drugs, depression, obsessive-compulsive disorder, as well as neuroimaging experiments furthering the understanding of its effects on the brain," as reported by Drugpolicy.org. Psychiatrists at Johns Hopkins University and the Multidisciplinary Association for Psychedelic Studies (MAPS) for example are conducting research. Researchers at New York University found psilocybin mushrooms caused a "rapid and sustained" reduction in anxiety and depression in patients with cancer, as reported by the Financial Post. As excitement builds, it's opening a range of opportunity for companies that have already established launching cannabis products including The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), The Supreme Cannabis Company Inc. (TSX:FIRE) (OTCQX:SPRWF), Canopy Growth Corporation (TSX:WEED) (NYSE:CGC), HEXO Corporation (NYSE:HEXO) (TSX:HEXO) and Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT).

Due to various recent regulatory changes, the cannabis industry is slowly evolving out of the black market and morphing into a global economic powerhouse. While cannabis still remains heavily regulated in most regions around the world, a handful of countries have moved to legalize cannabis for either medical or recreational use. Notably, only Canada and Uruguay have completely legalized cannabis yet it is the U.S. that accounts for the majority of the global market share. In fact, the U.S. is the largest individual market primarily because of its massive addressable market as well as its early adoption. To note, the U.S. has not federally legalized cannabis, but instead gave states the jurisdiction to decide for themselves. Consequently, 11 states and the District of Columbia moved to legalize recreational cannabis, while more than half the country approved medical cannabis use. In particular, California was the first state to adopt medical cannabis back in 1996. And shortly after, Oregon, Alaska, and Washington joined California and legalized medicinal cannabis in 1998. However, Colorado and Washington completely reshaped the entire industry after the two states moved to legalize recreational adult-use in 2014. By 2015, Colorado reported total cannabis sales of USD 995.59 Million, while Washington reported total sales of USD 486 Million. Meanwhile, Canada reportedly sold approximately USD 1.1 Billion worth of cannabis in the past 12 months, according to Cannabis Benchmark. Moreover, Canada recently launched its "Cannabis 2.0" program, which legalized additional cannabis products such as edibles and beverages. Now, the rapidly growing North American market is anticipated to push the global cannabis industry into mainstream markets. And according to data compiled by Ahead Intel, the global cannabis market was estimated at USD 14.5 Billion in 2018. By 2025, the market is expected to reach USD 107.67 Billion, exhibiting a CAGR of 33.17%. Pasha Brands Ltd. (OTC: CRFTF) (CSE: CRFT), HEXO Corp. (NYSE: HEXO) (TSX: HEXO), OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) (TSX: TGOD), Emerald Health Therapeutics Inc. (OTC: EMHTF) (TSX-V: EMH).

CBD is quickly becoming a multi-billion-dollar business. In fact, sales of products containing CBD are expected to grow 700% in 2019 year over year, says the Brightfield Group. "The CBD market has been growing rapidly, but we will see unprecedented growth in 2019," Brightfield Managing Director, Bethany Gomez, explains. "The bulk of this growth is coming from large retailers like CVS, Walgreens, and Kroger entering the market and providing that availability to consumers." Better, more Americans are supportive of cannabis legalization. In fact, according to a Gallup survey, 66% of Americans are in favor of legalization. That's up from just 60% in 2016. In addition, cannabis has become a major platform for presidential candidates, as we near the 2020 presidential election. That's leading to a wide range of opportunity for companies including CBD Global Sciences, Inc. (CSE: CBDN), Curaleaf Holdings Inc. (CSE:CURA) (OTCQX:CURLF), CV Sciences Inc. (OTCQB:CVSI), HEXO Corporation (NYSE:HEXO)(TSX:HEXO), and The Supreme Cannabis Company Inc. (TSX:FIRE) (OTCQX:SPRWF).