Despite marijuana remaining illegal in most countries and in a majority of U.S. states, many marijuana companies have continued to thrive.

Currently, only a few nations, such as Canada and Uruguay, have legalized recreational marijuana. In the U.S., 24 states have legalized recreational marijuana. Regarding medical marijuana, around 40 countries have legalized it, alongside 38 U.S. states.

With that in mind, below is a list of the 10 most valuable marijuana companies by total market cap.

Innovative Industrial

• Ticker: IIPR
• Total Market Cap: $3.09 B
• Year Formed: 2016
• Country: USA

Curaleaf

• Ticker: CURLF
• Total Market Cap: $2.86 B
• Year Formed: 2010
• Country: USA

Green Thumb Industries

• Ticker: GTII.CN
• Total Market Cap: $2.79 B
• Year Formed: 2014
• Country: USA

Trulieve Cannabis

• Ticker: TRUL.CN
• Total Market Cap: $1.72 B
• Year Formed: 2016
• Country: USA

Tilray

• Ticker: TLRY
• Total Market Cap: $1.45 B
• Year Formed: 2013
• Country: Canada

Verano Holdings

• Ticker: VRNOF
• Total Market Cap: $1.27 B
• Year Formed: 2014
• Country: USA

Cronos Group

• Ticker: CRON
• Total Market Cap: $0.85 B
• Year Formed: 2012
• Country: Canada

Canopy Growth

• Ticker: CGC
• Total Market Cap: $0.64 B
• Year Formed: 2013
• Country: Canada

Cresco Labs

• Ticker: CRLBF
• Total Market Cap: $0.56 B
• Year Formed: 2013
• Country: USA

Sundial Growers

• Ticker: SNDL
• Total Market Cap: $0.52 B
• Year Formed: 2006
• Country: Canada