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Vermont lawmakers have given the initial green light for a legal market for marijuana.

The House voted 90-54 to pass a taxed and regulated market following hours of debate.

Sales would be charged a 20% tax and some of that revenue would be used for after school and summer learning programs.

The bill also bans flavored cannabis vapes and sets a cap on the potency of the cannabis to 30% THC.

It also creates a cannabis control board to oversee and regulate the sales of marijuana. Its members would be appointed by Gov. Phil Scott, R-Vermont.

It’s no secret investing in the cannabis space has been like navigating a minefield in the last year, but some of the top investors in the sector believe the downturn in the Canadian cannabis market in the past year has created opportunities in the U.S. market.

Tim Seymour, CIO of Seymour Asset Management and co-host of CNBC's "Fast Money," hosted a panel of cannabis investors Monday at the Benzinga Cannabis Capital Conference in Miami Beach to discuss the cannabis investing landscape.

Cannabis edibles and drinkables are already leading Canada’s legal cannabis market in 2020.

It has now been more than a year since cannabis was legalised in Canada, and while 2019 sales fell short of most expectations, 2020 is in a much better position to succeed. In October 2019, cannabis edibles were made available to patients and the public.

Maine wants to “harmonize” its medical and adult-use marijuana programs, but small growers, edible makers and retailers say the state’s proposed changes would drive them out of business and leave rural, cash-strapped patients without affordable medicine.

The Office of Marijuana Policy told state lawmakers Wednesday that it wants the medical and adult-use programs to abide by the same state rules whenever possible. It introduced a bill to apply the same plant size restriction, labeling rules, manufacturing safety and background checks to both programs.

Marijuana consumption is still a taboo, but it seems like the millennial generation is working hard to change this fact. They are the pioneers of recreational weed usage and the major reason why nine states decided to legalize marijuana since 2012.

Less than three months into Illinois’ new legal adult use cannabis market, the state says its tax revenue is already exceeding expectations.

Data released by the Illinois Department of Revenue reveals that Illinois cannabis sales generated more than $10 million in taxes in January 2020, the month when cannabis retailers opened their doors in the state (often leading to very long lines).

Legal cannabis isn’t new to Canada—in fact it’s been available to patients with qualifying medical conditions since 2001. There’s no doubt that when cannabis became legal to all adults in 2018, it was made possible in large part by the persistence and advocacy of patients.

Last year was supposed to when marijuana stocks put the pedal to the metal and proved to Wall Street that they were wholly deserving of their premium valuations. The stage certainly appeared set with Canada selling adult-use cannabis and on track to launch derivative pot products later in the year, and a number of U.S. states leaning in favor of legalization.