Cannabis Legislation Year-in-Review

Although Congress failed to pass federal legislation legalizing cannabis in 2021, the push to end the federal prohibition of the ever-growing industry continues to gain steam.  While Republican lawmakers have traditionally opposed decriminalization, more are beginning to support or even introduce new cannabis legislation.¹  On top of that, recent polls indicate that an estimated 68% of Americans now support legalization² with many consumers now viewing cannabis as less dangerous than alcohol.³  In addition, the industry's total addressable market has been forecasted to grow to $84B by 2026.⁴

Federal Efforts

On the federal level, the Democrats have thus far failed to receive enough bipartisan support to overcome the threat of a filibuster in the Senate.  In 2021, neither the Cannabis Administration and Opportunity Act nor the Marijuana Opportunity Reinvestment and Expungement Act made much progress.  Moreover, the SAFE Banking Act, which would have opened the