The Changing U.S. Cannabis Legal Landscape: Challenges and Opportunities for Israeli Companies and Investors
One clear winner in the 2020 U.S. election has been the continuing state-level legalization of both medical and recreational cannabis. Four additional states voted to allow recreational use, and Mississippi voters authorized a medical marijuana program. As it stands, 36 states have legalized medical marijuana, and 15 of those states will allow recreational (or “adult use”) marijuana.
However, “marijuana” remains fully illegal under U.S. federal law, which applies to all individuals and companies in the United States in tandem to state laws. Federal law is particularly pronounced in the areas of banking, securities, intellectual property, bankruptcy, immigration and import and export. The United States, unlike many countries, distinguishes between very low-THC cannabis (called “hemp”) and its derivatives including hemp-derived CBD, and all other forms of intoxicating cannabis (called “marijuana”). In the hemp and CBD space, state-level regulators are beginning to step in where federal regulators are moving more slowly. As a result, different sets of laws must be considered by investors, operators, and ancillary businesses, trying to enter the market. This article, published in the US-Israel Legal Review 2020, by Alexander Malyshev and Guy Ben-Ami of Carter Ledyard covers some of the major areas to consider.
Click here to read (page 34): http://www.globallegalmedia.com/viewer6.html
