Although marijuana is now legal for recreational or medical use in 37 states, it is still a federal crime to grow, sell or possess marijuana.
With Congress unable to come to an agreement on marijuana’s legal status, the Biden administration has been considering other means at its disposal to change its legal status. Following the recommendation from the U.S. Food and Drug Administration last summer, the U.S. Drug Enforcement Administration is considering whether to reschedule marijuana.
Rescheduling would essentially make marijuana a highly controlled prescription drug, but calls from Congress have recently grown to deschedule marijuana, effectively ending the federal prohibition. The difference means everything for the U.S. marijuana industry, including the amount of capital drawn to it.
Possessing, using, distributing, and/or selling marijuana or marijuana-based products is illegal under federal law, regardless of any state law that may legalize or decriminalize such activity under certain circumstances. Although federal enforcement policy may at times defer to states’ laws and not enforce conflicting federal laws, interested businesses and individuals should be aware that compliance with state law in no way assures compliance with federal law, and there is a risk that conflicting federal laws may be enforced in the future. No legal advice we give is intended to provide any guidance or assistance in violating federal law.