How Hemp Became—and Continues to Be—Insanely Lucrative
By Steve Schain
Derived from identical plants, vastly easier to cultivate, and profoundly more profitable, industrial hemp always lacked legalized marijuana’s sizzle.
That all changed on Dec. 20, 2018 when President Donald J. Trump signed the Agriculture Improvement Act of 2018 (Farm Bill) legalizing hemp and its derivatives and forever removing them from the Comprehensive Drug Abuse Prevention and Control Act of 1970, 21 U.S.C. Section 801, Et. Seq (1970) (Controlled Substance Act) and Drug Enforcement Administration’s (DEA) clutches.
While 42 respective state programs await the U.S Department of Agriculture’s (USDA) Farm Bill regulations before allowing full “commercialization” and the Food and Drug Agency’s (FDA) “medications, consumables and Cannabidiol (CBD) containing products restriction” is concerning, the writing is on the wall.
Industrial hemp is the next gold rush.