Cannabis companies are striking multibillion dollar deals again. Here are the 7 law firms putting them together.

The cannabis industry is in the grips of deal mania as companies race for scale.

In the past year, these deals have taken various forms, including SPAC rollups and mergers between cannabis giants like Aphria and Tilray and Trulieve and Harvest Health & Recreation, among many others.

But cannabis mergers and acquisitions are unlike M&A in other industries because cannabis is federally illegal in the US. That heightens the need for specialized lawyers who understand the intricacies of doing business in the industry.

For some law firms, the cannabis deal rush has proved to be a windfall. It has also been an opportunity for others to push into a rapidly growing industry and create networks — and a pipeline of future deals — while their rivals are still on the sidelines.

Insider has put together its third annual list of the top law firms in the cannabis industry. You can read our 2019 edition here and our 2020 edition here.

This year, we used a different methodology. We pulled the 10 largest cannabis-industry deals worldwide since the start of 2020, including M&A, capital raises, and debt financing, and pinpointed which firms worked on them. We used data from Viridian Capital Advisors, CB Insights, and Pitchbook.

From there, we compiled a list of firms that worked on at least two of the deals. While there are many firms that have built extensive cannabis practice groups across intellectual property, litigation, and M&A, this list is focused on those that have advised on the largest deals — so, of course, there are firms that didn’t make the cut this year.

The firms are ranked by the dollar amount of deals they worked. Read on to see the full list.