Emerging Issues in Cannabis Law: Big Business and Equity Challenges.

The cannabis industry continues to evolve at a dizzying pace. Across the United States, states and cities shape and reshape their cannabis policies and regulations, cannabis businesses jockey for position and profit, and consumers sift through a marketplace brimming with cannabis products. It is difficult for many stakeholders to make sense of these rapid changes, and by the time they do, the landscape will likely shift again. This article identifies and explores some emerging legal challenges facing the cannabis industry and its stakeholders. It begins with a breakdown of the state of legalization initiatives in the United States as well as the less than ironclad nature of federal prohibition. Next, the article explores the business of cannabis, considering the size of the industry, the interplay between regulated and unregulated markets, and the regulatory challenges facing cannabis businesses today. Finally, the article explores notions of justice and equity as they relate to the cannabis industry and the role governments can play to right the wrongs of the war on drugs while spreading the benefits of legalization equitably.