Week in Review 6.24 to 6.28

U.S. Postal Services Unveils New Policy On Mailing Hemp-Derived CBD Products; Tennessee Hemp: Past, Present & Future; Mass. House Passes Bill To Help Grow Hemp Industry

This Week in Review

FDA Extends Deadline For Public Comments On CBD Rules

U.S. health regulators are giving hemp entrepreneurs and the public more time to weigh in on looming CBD rules. The U.S. Food and Drug Administration (FDA) said in an announcement posted Thursday that comments will be accepted until July 16, two weeks longer than before. Read more

U.S. Hemp-Based CBD Industry To Reach $6 Billion By 2025

The potential legalization of edible CBD could have a major impact on the U.S. CPG industry, particularly for the snack and confectionery category, according to Nielsen, which predicts the U.S. hemp-derived CBD market could be a US$6 billion industry by 2025 when considering legalized sales of food and beverage products containing CBD from hemp. Read more

FDA is Committed To Sound, Science-Based Policy On CBD

We apply this rigorous, science-based approach to matters large and small that come before the Agency — including with respect to products containing cannabis or cannabis-derived compounds, including cannabidiol (CBD). Read more

Living Near Dispensaries Doesn’t Affect Teen Marijuana Use Or Attitudes, Study Finds

The kids are alright: According to a new study, living in a community with a recreational marijuana dispensary does not appear to influence area high schoolers’ use of cannabis or their attitudes toward it. Read more

Connecticut OKs Dozens Of Hemp Grower Licenses For Pilot

With the new growing season underway, Connecticut's Department of Agriculture has been busy processing applications from dozens interested in growing industrial hemp as part of the state's new research pilot program. Read more

Newly Legalized Hemp Industry Set To Create A Jobs Boom In The US

It won’t get you high, but lots of people are high on hemp. Thanks to the passage of the 2018 Farm Bill last December, hemp — marijuana’s no-buzz cousin — is no longer a federally illegal controlled substance. Read more

N.Y. Lawmakers Pass Bill to Decriminalize Marijuana and Expunge 900,000 Arrests

New York lawmakers decriminalized small amounts of marijuana after failing to agree on a comprehensive package that would have fully legalized the drug and provided revenue for social programs. Read more

Mass. House Passes Bill To Help Grow Hemp Industry

Not too long ago, the only thing House Speaker Robert DeLeo knew about hemp was that as a kid growing up on the North Shore he and his friends used it to make bracelets. Times have changed, and so have Massachusetts laws. “I just discovered they’re now making clothing out of it,” the speaker said Wednesday, thanking Cambridge Rep. David Rogers, who he called “the hemp guy,” for bringing concerns about hemp cultivation restrictions to his attention. Read more

Banks Accepted Significantly More Marijuana Businesses In 2019, Federal Data Shows

Banks and credit unions have been accepting significantly more marijuana businesses in 2019, according to new federal data. At the end of the last quarter of 2018, there were 438 banks and 113 credit unions actively servicing cannabis businesses. By March 2019, those numbers grew to 493 and 140, respectively. Read more

Hemp Is Hot, And Florida Farmers Hope To Cash In On Multibillion-Dollar Crop

South Florida consumers used to be able to buy fresh tomatoes and bell peppers at Publix that were grown at Whitworth Farms in Boynton Beach. But last year, the third-generation farming family was forced to lease its land because it was no longer profitable to farm it. Read more

Tennessee Hemp: Past, Present & Future

“I would say that Tennessee is top five in the country for the most amount of licensed hemp growers,” said Will Freeman of the Tennessee Department of Agriculture. “Our first year having this hemp program was in 2015, as a pilot research program. We issued 49 grower licenses during that year, and each year since it’s grown.” Read more

High Risk? Cannabis Sector’s Legal Conflict Puts Investors in Haze

Though the cannabis sector has matured in recent years, navigating the still murky legal environment surrounding marijuana stocks might be enough to leave many investors feeling a bit dazed and confused. For starters, marijuana remains illegal on the federal level in the U.S., even though there has been a legalization push from a growing number of states. That difference can make it pretty easy to get lost in the weeds as the regulatory environment continues to take shape. Read more

U.S. Postal Services Unveils New Policy On Mailing Hemp-Derived CBD Products

The U.S. Postal Service (USPS) confirmed in an expanded policy update last week that hemp products are legal to mail under certain circumstances since the crop is no longer a federally controlled substance. Read more

Growers Hope Standards Bring Order To Hemp Industry 'Mess'

That's one example of the startling lack of uniformity — and accountability — in an industry that's sprung up almost overnight since the U.S. late last year removed hemp from the controlled substances list. Read more

California Hemp Food Bill That Would Allow Licensed Marijuana Retailers To Enter CBD Market Advances

California’s hemp and marijuana industries moved a few inches closer together Wednesday when state senators advanced a bill to both formally legalize hemp-derived CBD food and beverage products for sale and allow licensed MJ companies to enter the hemp CBD sector. Read more

Banks Accepted Significantly More Marijuana Businesses In 2019, Federal Data Shows

Banks and credit unions have been accepting significantly more marijuana businesses in 2019, according to new federal data. At the end of the last quarter of 2018, there were 438 banks and 113 credit unions actively servicing cannabis businesses. By March 2019, those numbers grew to 493 and 140, respectively. Read more

Hemp Is Hot, And Florida Farmers Hope To Cash In On Multibillion-Dollar Crop

South Florida consumers used to be able to buy fresh tomatoes and bell peppers at Publix that were grown at Whitworth Farms in Boynton Beach. But last year, the third-generation farming family was forced to lease its land because it was no longer profitable to farm it. Read more