Also called bam, bamtree, hackmatack, tacamahac poplar and tacamahaca.
Very-closely related to sister-species
◼︎ black cottonwood Populus trichocarpa.
So close, that some sources call it a subspecies of this plant, Populus balsamifera subsp. trichocarpa.
Both are part of
aspen/cottonwood/poplar genus Populus
in
willow family Salicaceae.
Native to 🇨🇦 Canada, Alaska, and northern continental 🇺🇸 USA.
🌎︎ Map by county (🇺🇸 USA-48),
🌎︎ map (North America, Central America). 
In the West and South of this range, balsam poplar overlaps with a very-closely related sister-species
◼︎ black cottonwood Populus trichocarpa,
which then extends South into much of Pacific Northwest, Rocky Mountains, and California. Some maps confuse or combine these two sister-species.
Uses by native peoples
(Ethnobotany database)
Populus hosts caterpillars of 367 species
of butterflies and moths, in some areas.
This plant is also known to be a host for (in areas where invasive)
🐝︎ spotted lanternfly (SLF) Lycorma delicatula.
Often grows in clonal colonies
[1]
—look around for other stems!
Can form a
hybrid
with
eastern cottonwood Populus deltoides
(also part of the
aspen/cottonwood/poplar genus Populus
), forming
balm of Gilead Populus × jackii.
The hybrid occurs occasionally in nature.
Propagation protocol.