It was a mixed bag in the cannabis-related news world this week.

In case you haven't been paying attention, legal cannabis is a big-dollar business model. Having generated $12.2 billion in global (legal) sales in 2018, according to figures from Arcview Market Research and BDS Analytics, the worldwide weed industry could make a run at $50 billion, or perhaps $75 billion, in annual sales by the time 2029-2030 rolls around, based on various Wall Street estimates.

Cannabis is a huge opportunity for investors.

Cannabis continues making progress in the U.S. as Illinois recently passed into law a bill that will see it become the 11th state to legalize marijuana for recreational use — and more states that are likely to do the same. Both New York and New Jersey have shown an interest in legalizing cannabis, although the only question is when.

The growth in the U.S. markets is going to create many opportunities for cannabis stocks once marijuana becomes legal federally, and here are three that might be the best buys today:

Texas legalizes hemp and CBD processing, poised to take advantage of U.S. cultivation demand

Green Growth Brands Inc. has signed a deal to open more than 70 new CBD stores at Brookfield Properties' shopping centres throughout the United States.

The Ohio-based cannabis company says these stores will sell CBD-infused personal care products under its existing Seventh Sense banner and under a new brand called Green Lily.

The chief executive of Brookfield Properties' retail group, Sandeep Mathrani, says it is the company's job to bring in retail offerings that consumers desire, and this includes Green Growth's CBD products.

Green Growth currently has seven shops within Brookfield Properties' portfolio.

Cannabidiol or CBD is a non-intoxicating compound which can be derived from cannabis or hemp and has been touted for its health benefits.

Former Colorado revenue head discusses lessons from being one of the first markets to legalize cannabis 

A couple of big Wall Street banks recently weighed in on a basket of widely traded marijuana stocks. Analysts at Jefferies and Bank of America agreed that two of the world's largest cannabis companies are good stocks to buy right now, but they disagreed sharply about a third licensed producer.

Blindly following recommendations is a surefire way to underperform the overall market, but understanding why analysts are willing to make bold calls is almost always worth the effort. Here's why Wall Street banks think you should buy these three stocks.

Legalization in North America has raised many questions. For example, can you take cannabis to your hotel room when on vacation? The age of cannabis legalization is most certainly upon us, with Canada being the most recent on the list to legalize the herb for both medical and recreational. However, in most states where cannabis is legal, on whatever level, consumption is limited to private spaces; usually at home.

Even in states where cannabis is legal, it’s not alright to light up a joint in a club, bar or restaurant, or any similar public space. This doesn’t apply across the board, but for the most part, people enjoy their cannabis in the comfort of their own home.

Of all the stories gaining press in 2019, perhaps none will prove more important or impact more American lives and pocketbooks than the ongoing trade war between the United States and China.