Seems like hemp is on its way to ubiquity. But there are still obstacles.
There’s a good possibility the 2018 Farm Bill could include full legalization of hemp nationwide. But just becoming legal doesn’t mean the crop will take over fields across the country.
According to the Associated Press:
As the more than 30 states that operate hemp pilot programs have discovered, it’s not easy to oversee a plant that’s used to make everything from car parts to hand cream and that, except for the chemical that produces a high, is identical to marijuana — which the federal government still classifies as a dangerous drug.
It could take one or two years for federal officials to craft regulations for hemp, said Tim Gordon, president of the Colorado Hemp Industries Association. “Just because the farm bill passes doesn’t mean hemp is suddenly legal and everything’s great.”
All that said, major corporations are betting on hemp. According to CTV Toronto:
But restrictions on CBD are showing signs of easing, particularly in the U.S., and the growth projections for the market are now dramatically higher than they were a year ago, Brightfield says. It could outpace the rest of the cannabis market to reach US$22 billion by 2022, according to its recent report.
Hemp and cannabis are Schedule 1 federally controlled substances in the U.S. CBD is legal in all 50 states, but only if derived from industrial hemp cultivated for academic research or agricultural pilot programs. However, if the 2018 Farm Bill working its way through the U.S. legislative process passes, it would allow for the full legalization of industrial hemp in the United States, allowing CBD to be sold across state lines.
“This legal grey area that plagues the market right now, that essentially is wiped out… It allows it to be on the shelves of Krogers and Target and Walmart,” Gomez said.