The majority of states in America have legalized marijuana either for medical or recreational use—yet it remains illegal on the federal level. This poses regulatory challenges for financial institutions operating at the federal level and for some only operating in one state (because some are still subject to federal mandates, e.g., the Federal Deposit Insurance Act). Despite this disparate guidance, the multi-billion dollar U.S. cannabis market continues to expand. Dow Jones partnered with Baker McKenzie and FIBA, a nonprofit trade…