A $28 billion hemp THC industry is fighting to save itself from a looming federal ban
A $28 billion hemp THC industry faces potential elimination before the end of the year after Congress voted to close a federal legal loophole. Operators and retailers, including those in Oregon, warn that these changes could put businesses out of operation. To avoid a total ban, the industry is proposing new restrictions that would limit impairing products to adults 21 and older, cap the amount of THC allowed per package, and prohibit the import of cannabis compounds.
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- ✓ The hemp THC industry is valued at $28 billion.
- ✓ Congress voted to close a federal legal loophole that allowed impairing hemp products to flourish.
- ✓ The industry faces potential elimination before the end of the year.
What changed
Industry advocates have proposed specific regulatory compromises, including age limits and import bans, to prevent a total federal ban.
Live updates
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Hemp THC Industry Fights Potential Federal Ban
A $28 billion hemp THC industry faces potential elimination before the end of the year after Congress voted to close a federal legal loophole. Operators and retailers, including those in Oregon, warn that these changes could put businesses out of operation. To avoid a total ban, the industry is proposing new restrictions that would limit impairing products to adults 21 and older, cap the amount of THC allowed per package, and prohibit the import of cannabis compounds.
Why it matters
The market flourished by using a loophole in industrial hemp laws to sell intoxicating products. Senator Mitch McConnell closed this loophole, threatening the viability of THC-infused drinks and gummies. This shift creates an existential threat for brands currently operating legally in various states.
What is confirmed
- The hemp THC industry is valued at $28 billion.
- Congress voted to close a federal legal loophole that allowed impairing hemp products to flourish.
- The industry faces potential elimination before the end of the year.
Still unconfirmed
- Oregon retailers and suppliers say federal changes will put hemp industry operators out of business.
- Nicholas Hohns operates a business making potent THC gummies in a commercial kitchen outside Raleigh, North Carolina.
What to watch next
- Congressional or federal agency response to industry proposals on age limits and THC caps
- Implementation date of the federal ban on impairing hemp products
confidence 90%Sources used for this update (12)
- AP News — A $28B hemp THC industry is fighting to save itself from a looming federal ban
- NPR — Year-end countdown: The federal ban threatening to upend the THC drink boom
- Marijuana Moment — Federal Changes Will Put Hemp Industry Operators Out Of Business, Oregon Retailers And Suppliers Say
- PBS — A $28 billion hemp THC industry is fighting to save itself from a looming federal ban
- go.sevenfifty.com — The Existential Threat Facing THC Drinks Brands
- WTXL ABC 27 — THC-infused drinks are legal on Tallahassee shelves now, but a new federal law could change that
- GreenevilleSun.com — US-Hemp Product Ban
- stl.news — Federal Hemp THC Restrictions Threaten Billions
- www.pbs.org — A $28 billion hemp THC industry is fighting to save itself ...
- abcnews.com — $28B hemp THC industry fights to save itself from looming ...
- finance.yahoo.com — A $28B hemp THC industry is fighting to save itself from a ...
- fortune.com — Sen. Mitch McConnell closed a loophole in a hemp law. Now $28 ...
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