12 Days of Regulatory Insights: Day 5 – Cannabis Chronicles

Regulatory Oversight Podcast

In the fifth episode of our 12 Days of Regulatory Insights podcast series, Nick Ramos is joined by Jean Smith-Gonnell, the leader of the firm's Cannabis Industry practice to discuss significant regulatory updates in the cannabis industry from 2024 and the potential impacts of the recent election on the industry in 2025.

The two begin by reviewing several states' legalization initiatives, including Nebraska's arguably surprising approval measure to legalize medical marijuana. Shifting to the federal outlook for 2025, they highlight public support for legalization and President-elect Donald Trump's stance on state-level legalization and rescheduling marijuana to a Schedule III drug.

Jean and Nick round out their discussion by highlighting legislative proposals that aim to address various regulatory and banking challenges in the cannabis industry, such as the States 2.0 Act, the States Reform Act of 2023, and the Safer Banking Act.

Our Cannabis Industry practice provides advice on issues related to applicable federal and state law. Marijuana remains an illegal controlled substance under federal law.