'Alphabet Soup' Of Federal Agencies Issue Favorable Rulings Advancing Hemp Industry

The hemp industry notched two wins in the past seven days, with the U.S. Department of Agriculture (USDA) releasing a legal opinion stating that hemp can be transported across state lines and the Transportation Security Administration (TSA) changing its guidance to allow hemp-derived CBD oil on airplanes.

A third federal agency, the U.S. Food and Drug Administration (FDA), is slated to hold a hearing on Friday, May 31 about how to regulate CBD.

"It's a big week for hemp," said Daniel Shortt, an attorney who works with cannabis entrepreneurs.

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"Under the 2014 Farm Bill there was not any oversight, so many states were compelled to create their own laws, and there wasn't any federal law to compare it to until now, " said Garrett Graff, managing attorney with the cannabis firm Hoban Law Group.