The marijuana industry is evolving at a rapid pace. Back in 1995, a mere 25% of all respondents in Gallup's annual survey were in favor of legalizing marijuana, and not a single U.S. state or country around the world had given the green light to cannabis.

Today, two-thirds of all respondents in Gallup's annual survey now favor the legalization of pot in the U.S., with 33 U.S. states having legalized the drug for medical purposes, and 10 allowing adult consumption. There are also two countries (Canada and Uruguay) worldwide to OK recreational weed, with more than two dozen medically legal countries.

Wall Street is seeing green.

Analysts at Cowen note the U.S. cannabis market could rocket to $16 billion by 2025.  

Analysts at Piper Jaffray believe we could be looking at a global market value of between $250 billion to $500 billion a year.  “We believe the long-term growth can be significant — both from transitioning illicit trade to legal sales, medical sales, and from transitioning sales in health (and) wellness categories to CBD-infused products,” said the analysts, as quoted by MarketWatch. 

As the boom just begins, three of the best cannabis stocks to own include the following:

The marijuana industry is kicking tail and taking names through the first two months of 2019. The broad-based Horizons Marijuana Life Sciences ETF is up more than 50% year to date, and pot stocks have gathered plenty of momentum following Canada's legalization of recreational weed in mid-October of last year.

If you're on the hunt for a great marijuana stock to buy, remember that sometimes taking the road less traveled is the best choice. Big Canadian marijuana producers get the most attention. That makes sense in some ways because of the excitement over the Canadian recreational marijuana market. But smaller marijuana businesses that focus on the U.S. could be even smarter picks.

Since weed became legal in Canada back in October 2018, Canadian border agents have confiscated way more weed lately but it's not for the reason you'd think. CBSA revealed recently that the number of weed confiscations at the border went up over 60% from 2017 to 2018. In fact, in just over one month after legalization, there were 329 cases where CBSA seized cannabis from travellers at the border. 

Canadian licensed cannabis producer Tilray has announced a planned acquisition of Winnipeg-based industrial hemp grower/processor Manitoba Harvest for $316 million. Manitoba Harvest does not currently produce cannabinoid-rich hemp or CBD oil, but its hemp-seed products such as hemp granola, protein powder, and hemp milk are currently sold at 13,000 stores including Walmart, Costco, Kroger, CVS, and Amazon. Under new ownership, Manitoba Harvest now intends to develop hemp-derived CBD product lines.

It was recently announced that Dad & Dudes one of the pioneering companies manufacturing craft beer infused with CBD was acquired by the company specializing in cannabis brands Cannabiniers which is based in San Diego. Dad & Dudes was founded by Mason Hembree with his father Thomas in 2010.

Initially, the company was not dealing with any CBD products. It was mainly focusing on eight-inch pizzas and craft beer. The first CBD infused beer from the company had a rather unusual name, the Secret Stash of George Washington and was launched in the year 2015 at the Great American Beer Festival at Denver.

New Hampshire, Florida move bills to legalize recreational cannabis 

A Wall Street bank has officially initiated coverage of cannabis stocks, as high-flying cannabis companies have caught the attention of both the Main Street and Wall Street following a wave of marijuana legalization.

There's a little something different in the swag bags that Oscar-nominated actors will receive this year — a range of cannabis products and services from five companies, including one from a Canadian company.

The "Everyone Wins" gift bags are sent to all 25 nominees in the acting categories, and — although not officially sanctioned by the Oscars — their extravagant nature has given the bags some star status of their own.