A suite of discoveries in the last two decades demonstrate that we are now at a point where incorporating magnetic behavior is key for advancing our ability to characterize substellar and planetary systems. The next decade heralds the exciting maturation of the now-burgeoning field of brown dwarf magnetism, and investing now in brown dwarf magnetism will provide a key platform for exploring exoplanetary magnetism and habitability beyond the solar system. We anticipate significant discoveries including: the nature of substellar and planetary magnetic dynamos, the characterization of exo-aurora physics and brown dwarf magnetospheric environments, and the role of satellites in manifestations of substellar magnetic activity. These efforts will require significant new observational capabilities at radio and near infrared wavelengths, dedicated long-term monitoring programs, and committed support for the theoretical modeling efforts underpinning the physical processes of the magnetic phenomena
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