Rounding out a big year for the cannabis industry, December 2018 had plenty of important breaking stories. Most of the cannabis industry news this past month highlights the positive developments and milestones for the marijuana business community, though there was some talk about the industry’s growing pains as well.

Here’s a quick rundown of all biggest cannabis news stories from December 2018:
 

 

2018 Was Big for Marijuana, 2019 Set to Be Even Bigger

Last year saw the cannabis industry rocket up a massive growth curve, with an incredible $10 billion of investments made across its various businesses and organizations. As exciting as that news may be, even more, thrilling are the projections made for 2019. The combined North American market is expected to grow that number by more than 150 percent, exceeding $16 billion by the end of this year. A significant amount of that growth is due to the increasing legalization of marijuana throughout the United States, as well as its growing acceptance in mainstream culture. For cannabis owners and advocates, the continuing projected success of the industry in 2019 is an excellent indication of the possibilities that lie ahead.
 

 

2018 Farm Bill Includes CBD and More

The 2018 Farm Bill is set to open the door for the growth of hemp and hemp-derived products, finally allowing states to develop federally legal hemp programs. The legislation passed with overwhelming approval in both the House and Senate and received presidential signoff in late December. Nearly $900 billion is tied to the 2018 Farm Bill, promising big changes for the hemp and CBD industry. With the return of hemp to American’s farmland on the horizon, CBD advocates are extremely positive about the future of the increasingly popular THC-free option.
 

 

December for California Marijuana Wasn’t Good

When California passed legislation allowing recreational cannabis use, there were mile-high expectations set for the success of the state’s cannabis market. However, a few recent obstacles have hurt California’s burgeoning marijuana market, including the mass recall on marijuana issued in December. Thousands of pounds of cannabis were included in the recall, which was issued after it was discovered Sacramento-based Sequoia Analytical Labs was falsifying pesticide test reports. Nearly 30 businesses were caught up in the lab’s massive blunder, with affected products dating as far back as July. For the cannabis businesses affected, it’s an expensive issue in an already challenging landscape.
 

 

Nevada Had a Great Month in December

Compared to California, things were considerably brighter for the Nevada cannabis industry. More than 60 new licenses were issued by the state, allowing for the sale of marijuana throughout Clark County and beyond. Leaders in the state’s cannabis industry were somewhat divided on the distribution of the licenses – although they generally agreed that the market’s growth was exciting, there was some talk about the long-term goal to establish a health, competitive market. Overall, the potential for the state’s cannabis marketplace is sky-high, with many business owners attributing the excellent growth to solid regulations and a strong entertainment and tourism industry.
 

Stay on Top of the Latest News in Cannabis Marketing and Business

Want to make sure you’re always in the loop on the latest cannabis industry and digital marketing news? Be sure to check in with Herban Planet every month for our cannabis industry reports, where we round up all the most important stories and put them into one easy-to-browse guide. We make it easy to stay informed, make smart business decisions, and learn more about the industry so that you can excel as a member of the cannabis business community.