For good or bad, cannabis is ever present in American life. This course explores the gradual legalization of cannabis in the United States juxtaposing it in part against Prohibition, considers policy rationales ranging from revenue for state coffers to emerging views relating to criminalization and punishment, and then analyzes in detail the myriad of existing and emerging legal areas that are impacted by the state legalization of a substance that remains illegal under Federal law. Among the areas of the public and private law that the course will address are the following: (1) state regulation of medical and recreational cannabis use; (2) criminal law; (3) contractual and commercial law issues for cannabis companies; (4) bankruptcy and assignment for benefit of creditors’ (“ABC”) law; (5) securities law and financial markets regulation; (6) employment law issues; and (7) the future of cannabis law in dual state and Federal settings.
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