Removes federal criminal penalties and certain federal restrictions for marijuana that is produced, possessed, distributed, or transported in compliance with a State or federally recognized Indian Tribe’s law, and requires the Attorney General and FDA to issue implementing rules. It also directs the FDA to regulate marijuana products by category (drugs, foods/dietary supplements, cosmetics, or other) with new labeling, testing, and marketing rules (no premarket approval for non-drug products), requires a one-year federal study on traffic safety impacts, and protects compliant transactions from certain federal tax, forfeiture, and money‑laundering treatments.

The bill affirms tribal self-government in marijuana regulation, creates an exception in several federal criminal statutes for state- or tribe-compliant marijuana activity, and sets deadlines (180 days) for agencies to issue implementing rules and a one-year deadline for a Comptroller General report to Congress.