The cannabis sector provided incredible returns during 2016 and many investors are wondering what to expect in 2017.

Despite favorable state-wide elections results in early November, concerns among investors have increased due to some highly questionable cabinet nominations by President-elect Donald Trump.

Although 2016 was a banner year for the cannabis industry, we expect 2017 to be just as significant. From the development of FDA approved pharmaceutical cannabis-based products to the commencement of recreational cannabis sales in Canada, there is a lot for investor to watch this year.

We want to highlight important investment themes for 2017 and provide recommendations based off these themes.

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The owner of a Halifax medical marijuana dispensary says the business will continue to operate, despite being raided last week.

“We have to make a stand,” said Shirley Martineau. “I’m here for the patients and I’m not quitting anytime soon. I’m sorry, but I can’t.”

Martineau opened Auntie’s Health and Wellness on Barrington Street four months ago. Last month she told CTV Atlantic she would sell cannabis to anyone over the age of 19, whether or not they have a prescription for medical marijuana.

Karson Humiston, the founder and president of Vangst Talent Network, has paired roughly 2,000 jobseekers from a wide range of professional backgrounds with high-profile gigs in the cannabis space, but fighting the industry’s persisting stigma can sometimes feel like a full-time job all on its own.

“This notion of a typical stoner sitting on the couch eating potato chips and smoking weed is what a lot of people carry in their minds…when I tell them I run a cannabis talent agency,” Humiston told Civilized.

“My response is always: do you think people working in the liquor industry are taking shots all day long? It’s just not the case, but it still tends to be the stigma.”

Since different states in the US have become marijuana friendly, entrepreneurs have embraced this as a viable business opportunity. In fact, marijuana legalization has birthed numerous business opportunities. They are not just for those dealing with the product, but also for professionals like business attorneys helping startups to secure relevant requirements for a legal marijuana-related business. This provides employment for the citizens as well as improve the government’s gross revenue. Whether you are interested in recreational or medical marijuana opportunities, here are some 5 things you need to know before you dive in marijuana-related business.

1. The state rules and statutes governing marijuana cultivation, use, and distribution.

hen the clocks struck midnight on New Year’s Eve they not only marked the arrival of 2017 but also sounded the death knell for the oldest coffeeshop in Amsterdam, Mellow Yellow, which has closed after half a century in business.

While the rest of the Dutch capital ushered in the new year with fizz and fireworks, Mellow Yellow’s owner, Johnny Petram, fought back tears as he pulled the shutters down on his cannabis cafe for the last time.

“I tried to make the best of it but it was the worst day of my life,” he said. “Mellow Yellow was the oldest coffeeshop in Amsterdam and now it’s gone.”

Legal weed is big business.

The North American marijuana market posted $6.7 billion in revenue in 2016, up 30% from the year before, according to a new report from Arcview Market Research, a leading publisher of cannabis market research.

The so-called green rush shows no sign of slowing down.

Arcview projects sales will grow at a compound annual growth rate of 25% through 2021, when the North American market is expected to top $20.2 billion.

The cannabis business had some big wins during this year's election. Now, that's stimulating predictions of major greenback growth along with ever-more sophisticated marketing strategies on the part of cannabis companies.

In November, citizens of four states—California, Massachusetts, Maine and Nevada—voted to approve recreational cannabis usage for adults 21 or over. They join four other states where the drug can be used recreationally: Alaska, Colorado, Oregon and Washington, along with the District of Columbia. Meanwhile, voters in Florida, Arkansas, North Dakota and Montana also approved the legalized use of medical marijuana. All told, 28 states have opened up to medical usage.

ArcView Market Research released their annual cannabis market summary, and the numbers are staggering for the legal marijuana industry. In their 4th edition of The State of Legal Marijuana Markets they report that an amazing 30% growth rate occurred in the industry, which makes it the fastest growing industry in the country by far. The pace is even greater than the dot-com era, which grew at only a 22% rate.

The state of Alaska has received its batch of cannabis tax revenue from the first full month of retail marijuana sales.

In November, seven marijuana cultivators paid $81,100 to the Alaska Department of Revenue's Tax Division, division director Ken Alper wrote in an email.

About 98 pounds of marijuana bud and 10 pounds of trim — the leaves and stems — were sold wholesale, Alper wrote. Under Alaska law, cultivators pay the state's tax. Bud is taxed at $50 per ounce, and other parts of the plant, like the stems and leaves, are taxed at $15 per ounce.

Most of the taxes were paid in cash, and a few were paid with check, Alper wrote.

In 2016, roughly 60% of Americans said they favored the legalization of recreational marijuana, as the industry gained support in invalidating the war on drugs and seven states voted to legalize pot for recreational or medical use.

It was a watershed year for weed. The industry took significant steps in solidifying the market, demonstrating its earnings potential, while advocates fought to debunk the stigmas tied to consumption and argue that states can use it help plug budget holes. In Colorado, where marijuana is legal for recreational use, total revenue from marijuana taxes, licenses and fees came to $72.8 million, as of October 2016.