Book excerpt: As the largely illicit cannabis market transitions to a legal, regulated industry, the "canna-curious" and experienced industry participants alike are experiencing the harsh truth: Making a fortune in the legal cannabis industry is a challenge made even more difficult by a complex patchwork of state and federal laws. The Cannabis Business clears the confusion around topics such as the distinction between hemp and cannabis and why it matters for consumers and regulators, why CBD isn’t completely legal in the U.S., why and how states differ in their licensing processes, and how deal structuring is impacted by state regulations. Written by attorneys from the nation’s leading cannabis law and policy firm, this comprehensive primer on all things cannabis law is a must-have for anyone seeking to understand the major practical legal issues facing the cannabis industry in the U.S.