In The Legal's Cannabis Law supplement read about medical marijuana and its collateral consequences, alternatives to bankruptcy and the COVID-19 pandemic's impact on legalization and legislation.

In four short years, a lot has happened. The one constant has been that of change. The evolution is still in its early stages and the laws surrounding the use of marijuana will continue to be defined.

The past two years have been a whirlwind for cannabis companies looking to raise capital, going from boom, reaching stratospheric heights, to bust, leaving the industry cash-strapped well before the onset of the coronavirus pandemic.

The complex and fractured legal and regulatory framework that governs the industry's operations in the United States, coupled with the impact that the crisis has had on legislative initiatives, has led industry participants to question whether the COVID-19 pandemic may open doors for the industry or whether it may halt years of progress.

The lack of access to bankruptcy is just one among several unique complications that cannabis enterprises face due to the federally illicit status of the product.

Unintended effects of the global pandemic may ultimately usher in a new wave of legalization and protection for marijuana businesses and the insurers and banks who work with them.

Dispensaries are thriving throughout the nation, including in Pennsylvania, where medical cannabis has been legal since 2016.