Despite the drubbing that marijuana stocks took in 2019, it was still a year filled with cannabis firsts. We witnessed Canada become the first industrialized country to launch derivative pot products and watched Illinois do what New Jersey and New York failed to do -- legalize recreational weed while also passing an expungement clause for those people with previous cannabis possession or use convictions.
The current year also looks as if it'll be filled with marijuana milestones. For instance, Mexico should become the third country in the world to give adult-use cannabis the green light by no later than the end of April. But the single-biggest event in 2020 will likely be the November elections in the United States.
Just as we witnessed in 2016, when nine states voted on a marijuana initiative or amendment (eight of which passed), the current year should feature a number of state-level votes on recreational or medical cannabis. However, none of them will be as unique as what South Dakota is bringing to the voting booth.