A committee studying the legalization, regulation and taxation of marijuana in New Hampshire heard from several experts at its third meeting on Monday. The group began its work last month.

The panel heard from representatives of the state banking commission on the financial hurdles to legalizing something that is a federal crime.

Matt Simon, New England political director for the Marijuana Policy Project, also testified, calling prohibition a complete failure.

“Prohibition hasn’t worked. If it had worked, we would not be here having this conversation. The idea was that it was going to stamp out use and we know that hasn’t happened,” Simon said.

Eight states have enacted laws legalizing and regulating marijuana for adult use, including Massachusetts and Maine. A recent study claims 160,000 Granite Staters regularly use marijuana, spending $350,000 each year.

Simon said he’s encouraged that the group is interested in learning more about the issue, but he’s concerned that the study commission is largely comprised of opponents of legalization.

The panel was also expected to hear from the state agriculture department.