A recent program presented by Sadis & Goldberg provided a comprehensive overview of the current state of cannabis regulation and legalization in the U.S., along with the resulting business and legal risks associated with investments in cannabis-related companies. Sadis partner Paul Marino moderated the discussion, which featured Eliott Frank and Robert Cromwell, partner and counsel, respectively, at Sadis; and Michael Feinsod and Hunter Garth, CEO and vice president, respectively, of General Cannabis Corp. This article summarizes the key points from the presentation. See our four-part series on investing in cannabis: “Legal Background, Justice Department Guidance and State Legalization” (May 9, 2019); “Structuring Investments, Due Diligence, Offering Documents and the BSA” (May 16, 2019); “Implications of Federal Illegality and Residency Requirements” (May 30, 2019); and “International Investments, Public Perception, Valuation and Service Providers” (Jun. 6, 2019).