A Growing Industry Navigates Conflicting State and Federal Cannabis Laws
June 6, 2022
Recent years have seen major shifts in the legal landscape governing cannabis. Nearly all states have passed varying levels of legalization, spanning from medical and/or recreational use to permitting the use of low-THC products. This has resulted in a patchwork of state laws and regulations for the growing field of cannabis products, which is only made more complex by contrasting federal law.
Despite legal challenges, the market continues to grow. Taxes on the sale of recreational cannabis in legal states raised $3.7 billion in 2021, according to the Marijuana Policy Project – a 34% increase over 2020. A more consistent regulatory and legal landscape, however, is essential to maintaining momentum in the industry.