The emerging cannabis industry is among one of the fastest growing industries in the country – with no signs of slowing. More than two-thirds of states have legalized cannabis in some capacity, and more than half of those states have legalized cannabis for recreational use. In 2021, the cannabis industry generated $27 billion in sales – a 35% increase over 2020. Recent projections anticipate industry sales to reach $30 billion by the end of 2022, with the potential to eclipse $50 billion by 2026.
With such rapid industry growth also comes rapidly evolving laws and regulations. The current conflict between federal and state law creates a complex landscape of competing rules and regulations, and cannabis businesses are wise to rely on experienced legal counsel to effectively navigate such a highly-regulated industry in a compliant manner.
Cannabis businesses are likely to require legal counsel spanning many aspects of the industry – Corporate Law, Governmental Affairs, Tax Law, Commercial Real Estate, Environmental Law -- to name a few. Our Cannabis Law Group comprises attorneys from each of these practice areas with demonstrable cannabis industry experience. Our clients include existing and prospective medical and recreational cannabis license-holders, including cultivators, manufacturers, dispensaries, and retailers, as well as property owners and private investors.
Learn more about the services our Cannabis Law Group is prepared to offer in this bespoke industry practice area.