Past tense of cannon; fired cannons at something, or in billiards, struck and bounced off a ball.
From cannon as a verb plus past tense suffix -ed. In billiards, the verb 'cannon' comes from the action of one ball striking another.
In billiards, a 'cannoned' shot was beautiful to watch—your cue ball hit one ball and bounced perfectly to hit another, and the term borrowed the military imagery of impact and momentum.
Complete word intelligence in one call. Free tier — 50 lookups/day.