The still-emerging cannabis and natural medicine industries face novel legal complexity. Experience and local know-how help lead the way in these evolving spaces.
The legal cannabis sector has grown from a handful of jurisdictions into a multibillion-dollar coast-to-coast industry and the natural medicine sector is now gaining traction. Such fast growth inevitably creates a maze of regulations and financial and operational challenges. Holland & Hart helps businesses cut through the complexity.
The volume of legal challenges facing entrepreneurs and companies entering and operating in the cannabis and natural medicine space is as vast and growing as the opportunities. New products using hemp, marijuana, CBD, and other cannabinoids hit the market every day. Research into psychedelics that hold promise for new frontiers of healing and pain management is underway. These businesses are subject to a host of unique legal pitfalls, including thorny tax issues (particularly Section 280E), licensing and compliance, operating in a federally illegal landscape, and a patchwork of state and local laws, in addition to traditional legal concerns.
Recently, both Colorado (Natural Medicine Act of 2022/Prop 122) and Oregon (Oregon Measure 109) passed “legalize and regulate” laws to establish a regulated market for natural medicines including psilocybin, psilocyn, mushrooms, DMT, mescaline, and other plant-derived substances. Our team is poised to help companies proactively set up a tax-optimal business structure and pursue financing, licensing, and comply with evolving federal, state, and local regulations.
Leveraging experience from the first state cannabis legalization efforts, our team guides clients not just with ensuring operational compliance, but in building creative solutions and productive relationships with state, local, and federal authorities. Our tailored approach helps cannabis and natural medicine businesses, stakeholders, and ancillary service providers analyze risks and chart a strategic course in this dynamic industry.