Federal Rescheduling: On April 22, 2026, the U.S. DOJ issued a final order immediately moving state-licensed medical marijuana from Schedule I to Schedule III of the Controlled Substances Act. A broader DEA administrative hearing to consider rescheduling of all marijuana begins June 29, 2026.
CALIFORNIA CANNABIS AND HEMP LAW.
ONE LAWYER WHO ACTUALLY KNOWS THE INDUSTRIES.
Decades of Experience. Eight Practice Areas. One Exclusive Focus.
Shay Aaron Gilmore has practiced California cannabis and hemp law exclusively since the first day of adult-use legalization — January 1, 2018. That means almost a decade of DCC licensing, cannabis M&A, hemp regulation, investor counsel, and policy work, with no other practice areas dividing his attention.
Shay has been recognized as one of the Top 20 Cannabis Lawyers in California by the Los Angeles/San Francisco Daily Journal, as a Top 100 Lawyer in Northern California by Super Lawyers®, and as one of the Top 200 Global Cannabis Lawyers by Cannabis Law Journal. He serves as a member of the Board of Directors of both the International Cannabis Bar Association (INCBA) and California NORML, as well as Chair of the California Lawyers Association Cannabis Practitioners Group.
Recognized By
Super Lawyers®
Top 20 California Cannabis Lawyers
The Daily Journal
California NORML
Global Top 200 Cannabis Lawyer
Cannabis Law Journal
Education
- The University of Texas School of Law, J.D., 2001
- Rice University, B.A. (Economics), 1998
Professional Memberships
- International Cannabis Bar Association, Board of Directors Member
- California NORML, Board of Directors Member
- California Lawyers Association, Cannabis Practitioners Group Chair
- Bar Association of San Francisco, Cannabis Law Section Co-Founder
Top Lawyer Recognition
- Top 20 California Cannabis Lawyers, The Los Angeles/San Francisco Daily Journal
- Top 100 Northern California Lawyers, Super Lawyers® Magazine
- Top 200 Global Cannabis Lawyers, Cannabis Law Journal
Shay Aaron Gilmore
California Business Counsel for the Cannabis and Hemp Community
Licensed by the State Bar of California since 2001, Shay Aaron Gilmore is a cannabis and hemp business attorney with nearly a decade of experience advising exclusively licensed cannabis operators, hemp businesses, investors, and entrepreneurs throughout California’s regulated cannabis and hemp supply chains. The Law Office of Shay Aaron Gilmore focuses exclusively on cannabis and hemp law — not as one practice area among many, but as the entire practice. That exclusive focus means clients receive counsel from an attorney who is current on every material regulatory development, every legislative change, and every shift in market conditions affecting California’s cannabis and hemp industries.
Why Cannabis and Hemp Law
Shay made a deliberate move into cannabis law in 2017, as California stood on the eve of adult-use legalization with regulations not yet written and hundreds of local jurisdictions each charting their own course. The Law Office of Shay Aaron Gilmore opened on January 1, 2018 — the first day recreational cannabis was lawful in California — built on the conviction that operators, investors, and communities would need skilled, dedicated legal counsel to navigate that complexity in a way that was equitable and sustainable. That commitment has not wavered: while many firms have since added cannabis as one practice group among dozens, Shay’s law practice has always been, and remains today, exclusively focused on California cannabis and hemp business law.
Transactional & Regulatory Depth
The firm’s work spans the full range of cannabis and hemp business legal needs. On the transactional side, Shay has represented buyers, sellers, investors, and creditors in cannabis M&A, asset acquisitions, secured financings, restructurings, and venture capital transactions — including deals one of the largest cannabis insolvency proceedings in U.S. history. On the regulatory side, Shay advises operators on DCC licensing (new applications, renewals, modifications, and ownership transfers), local permitting, and compliance with California’s layered cannabis and hemp regulatory framework.
For hemp businesses, the firm provides the full range of legal services across California’s emerging hemp supply chain, including AB 8 compliance, DCC hemp registration, commercial contracts, brand licensing, and agricultural labor. As California transitions its hemp regulatory framework to the DCC beginning in 2028, hemp operators face a period of significant legal uncertainty — and the firm is actively advising clients through that transition.
Venture Capital & Investment Counsel
A distinctive area of the firm’s practice is representing both cannabis and hemp companies and investors at the venture and growth stages. Shay advises on seed and angel financings, convertible notes, equity rounds, and VC term sheets, with particular attention to California’s financial interest holder disclosure requirements and the DCC’s ownership change and approval processes. The firm has represented out-of-state investors making their first California cannabis investments, cannabis operators raising growth capital, and creditors navigating cannabis restructurings where federal bankruptcy protection is unavailable.
Government Relations & Policy
Shay’s policy engagement is a direct client benefit. As Chair of the California Lawyers Association Cannabis Practitioners Group, co-founder of the Bar Association of San Francisco Cannabis Law Section, and a Board Member of the International Cannabis Bar Association and California NORML, Shay has consistent visibility into pending regulatory and legislative developments before they become public — and consistent access to agency staff and state lawmakers who shape the rules governing cannabis and hemp businesses. In 2025, Shay testified before the Judiciary Committee of the California State Assembly regarding a first-of-its-kind legislative proposal affecting online cannabis and hemp retail platforms, providing both client counsel and public testimony on the bill.
Teaching & Thought Leadership
Shay co-taught Cannabis Legal & Finance 101 at City College of San Francisco’s extension program — a practical workshop covering cannabis business formation, contracts, and tax strategy — and has presented CLE programs for the California Lawyers Association, the American Bar Association Business Law Section, and CEB (Continuing Education of the Bar — University of California). Shay is a named CEB contributor, and annual California cannabis legislative reviews authored by Shay have been published in the Daily Journal.
Bar Leadership
- Chair, California Lawyers Association Cannabis Practitioners Group
- Co-Founder, Bar Association of SanFrancisco Cannabis Law Section
- Board of Directors Member, International Cannabis Bar Association (INCBA)
- Board of Directors Member, California NORML
Pro Bono & Community Service
Shay organized and led the Bar Association of San Francisco’s Cannabis Business Pro Bono Panel — a first-of-its-kind program in California, developed in partnership with the San Francisco Office of Cannabis, that provides free legal services (contract review, permitting guidance, and compliance advice) to social equity applicants verified under San Francisco’s Cannabis Equity Program. Since 2018, the program has delivered hundreds of hours of free legal assistance to equity applicants, and it has since served as a model for similar programs in other California jurisdictions, including Los Angeles County.
A California-Focused Practice
The firm serves clients throughout California, with particular depth in the Northern California markets (San Francisco Bay Area, North Coast, Humboldt, Mendocino, Sonoma, Shasta-Cascade) and the Southern California markets (Los Angeles, Long Beach, San Diego). Shay is available for media commentary, CLE presentations, and expert panels on California cannabis and hemp law topics. For media inquiries or speaking engagement requests, contact shay@shaygilmorelaw.com or call (415) 846-6397. Shay regularly publishes articles focused cannabis and hemp here in California on his Cannabis and Hemp Law Blog.
Consultations available in Spanish upon request. / Se ofrecen consultas en español.
From Shay’s interview for the Master’s series on ReelLawyers.com
My law firm is different from others in that I’m exclusively focused on the cannabis and hemp industries. I don’t work with clients outside of these sectors, and this dedicated focus deepens the knowledge and expertise I bring to my clients. The relationships I’ve built with other lawyers, operators, and investors within the cannabis and hemp space further distinguish my firm.
The mission of my firm is to protect and expand access to legal, tested, environmentally sustainable, and socially equitable cannabis throughout every corner of California. I work only with clients operating or investing in the legal cannabis and hemp supply chains.
I support my cannabis cultivator clients in complying with environmental regulations, and I provide pro bono advice and counsel to verified equity applicants through the San Francisco Cannabis Equity Program. At every link in the supply chain, I use my office as both a legal resource and a platform for advocacy, lobbying state lawmakers for changes to laws that impact the cannabis and hemp industries.
From Shay’s interview for the Master’s series on ReelLawyers.com
The philosophy that guides my work as a lawyer is legal realism—the idea that the law should be grounded in empirical evidence and that legal hypotheses must be tested against real-world observations. Legal realism, with its focus on the practical application of law, enhances my transactional law practice in several meaningful ways.
First, it helps me understand the real-world context of the matters I handle—market dynamics, business needs, and client objectives—allowing me to craft agreements that are tailored to those goals rather than simply relying on standard legal forms.
Legal realism also informs my approach to negotiation. Beyond the legal texts, it emphasizes the importance of understanding the interests of all parties involved. This perspective allows me to navigate negotiations effectively and find creative solutions that satisfy everyone at the table.
Moreover, legal realism teaches flexibility and adaptability, which are essential in transactional practice. I adjust strategies based on evolving circumstances and the unique dynamics of each negotiation or regulatory environment.
Throughout my career, I’ve held leadership roles within the legal and cannabis communities. I’ve served on boards and in leadership positions since I began practicing law over 20 years ago. I co-founded the Bar Association of San Francisco Cannabis Law Section and am its immediate past chair. I also co-founded the California Lawyers Association Cannabis Practitioners Group, where I currently serve as chair.
Additionally, I sit on the Board of Directors of the International Cannabis Bar Association and have served on its executive committee. In 2023, I was appointed by the San Francisco Board of Supervisors to the San Francisco Cannabis Oversight Committee, where I occupy the seat designated for an expert in cannabis law and regulation. From this role, I help lead public discussions on reforming cannabis laws in the city.
I’ve also served as a member of the Corporations Committee of the California Lawyers Association’s Business Law Section.
Selected Publications & Speaking
2025 California Cannabis Laws — CEB On-Demand CLE (January 2026) | CEB — University of California
LEGAL UPDATE: California Cannabis & Hemp Industry (March 2026) | Republished in Highly Capitalized
The Cannabis Laws of the 2025 California Legislative Session (October 2025) | Daily Journal
The Cannabis Laws of the 2024 California Legislative Session (November 2024) | Daily Journal
Privacy Law Issues Confronting the Cannabis & Hemp Economy (November 2024) | California Lawyers Association CLE
Navigating Cannabis: Lessons from Experienced Practitioners (April 2021) | American Bar Association Business Law Section
As Featured In
Daily Journal | CEB | American Bar Association | Cultivated News | Highly Capitalized | NCIA
Representative Matters
- Cannabis Company Acquisition — Major California Distressed Asset Transaction Represented the buyer in the acquisition of a subsidiary of one of California’s largest publicly traded cannabis companies, which subsequently entered receivership in one of the largest such proceedings in California cannabis history. Successfully negotiated the satisfaction of significant historical tax liabilities on behalf of the buyer prior to the seller’s entry into receivership.
- State Legislative Testimony — First-of-its-Kind Online Cannabis and Hemp Retail Bill Served as government relations advisor and counsel for a hemp products manufacturer in connection with a California legislative proposal affecting online cannabis and hemp retail platforms. Role included providing testimony before the Judiciary Committee of the California State Assembly, with potential to influence other states.
- Cannabis Manufacturer Acquisition — Long Beach, California Represented the buyer in the acquisition of a licensed cannabis manufacturing company in Southern California. Handled all buy-side due diligence, negotiation, and closing responsibilities.
- Cannabis Manufacturer and Distributor Acquisition — Northern California Represented the buyer in the mid-deal takeover and successful completion of the purchase of a licensed cannabis manufacturer and distributor in Northern California. Reconfigured the deal structure to satisfy California’s regulatory requirements for cannabis business transfers and obtained DCC approval.
- Cannabis Cultivation Business Sale — Sacramento Region Represented the seller in the sale of a cannabis cultivation business in the Sacramento region. The sell side involved multiple constituents with competing interests, during a period of acute price compression for wholesale cannabis flower. Aligned all sell-side parties and completed the transaction successfully.
- Cannabis Cultivation Business Sale — Humboldt County Represented the seller in the sale of a cannabis farm in Humboldt County. Handled all sell-side due diligence, negotiation, and post-closing activities. The transaction required development of a novel interpretation of California’s ownership transfer regulations, which satisfied DCC regulatory scrutiny, in a market environment experiencing extreme downward price pressure for cannabis flower.
- Secured Investment in Multi-Location Cannabis Retail Development Represented an investor in a secured investment in a California company developing multiple cannabis retail locations. Negotiated and executed the investment agreements on behalf of the secured creditor, structuring the deal to safeguard the investor’s interests while meeting the operational and regulatory requirements of the cannabis retail developer.
- Cannabis Manufacturer Regulatory Restructuring — Landlord / Creditor Representation Represented the landlord and financial creditor of a commercial cannabis manufacturer in a complex financing and restructuring, including negotiation and execution of lease agreements, promissory notes, and money management agreements.
- Cannabis Cultivation Business — Controlled Creditor Takeover and Regulatory Restructuring Served as state regulatory counsel for a creditor in a controlled takeover and financial restructuring of a commercial cannabis cultivation business in California. Advised on all state commercial licensing aspects of the transaction, including the transfer of DCC license control from prior ownership to the creditor. Co-counseled with additional finance counsel engaged for the broader transaction.