A $28 billion hemp THC industry is fighting to save itself from a looming federal ban
Summary
The U.S. hemp THC industry, worth about $28 billion, is at risk because of a new federal rule that would ban many hemp products containing THC, the chemical that makes people feel high. Congress recently delayed the ban’s start to give more time to decide if these products can be regulated instead of banned.Key Facts
- THC is the part of cannabis that causes intoxication; hemp products with THC have grown rapidly but are different from legal marijuana.
- A 2018 law legalized hemp with less than 0.3% delta-9 THC, but allowed products that still caused impairment to be sold widely.
- Senator Mitch McConnell added a rule banning hemp products with more than 0.4 milligrams of THC per container.
- This ban was delayed from November 12 to December 11 to give Congress more time to work on regulations.
- The hemp THC industry says the ban could cause $28.3 billion in lost sales and 225,000 job losses.
- Some industry leaders support limits on THC and age restrictions to keep their businesses alive.
- A 0.4-milligram limit is very strict and would hurt many companies, including those selling beverages in multiple states.
- Some hemp products, including non-intoxicating items like lotions, could be banned under the new limit.
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