Federal Spending Bill Provision Threatens Hemp Extracts Industry with Widespread Ban

A Provision in the Federal Spending Bill Threatens the Hemp Extracts Industry The US Senate's passage of a federal spending bill, which includes a provision banning the unregulated sale of intoxicating hemp-based products, sent shockwaves through the hemp extracts industry. The bill, which accounts for $26.65 billion in funds, is being voted on in the House of Representatives on Wednesday. If passed, President Donald Trump is expected to sign it into law. The provision, which aims to end a loophole provided by the 2018 Farm Bill, would effectively decriminalize intoxicating hemp-based products. However, the bill stipulates that hemp products cannot contain more than 0.3 percent delta-9 THC by dry weight. Delta-9 is the main psychoactive compound in cannabis. The hemp extracts industry, which has seen significant growth in recent years, is worth an estimated $1.6 billion in the United States alone. The industry has been driven by the popularity of products such as gummies, drinks, and other edibles that contain cannabinoids like delta-8 and THCA. The proposed ban would have significant implications for companies that operate in the hemp extracts industry. Many of these companies have invested heavily in research and development, marketing, and distribution, and would be forced to adapt to a new regulatory environment. Industry experts estimate that a ban on intoxicating hemp-based products would result in the loss of thousands of jobs and billions of dollars in revenue. The hemp extracts industry is a significant contributor to the US economy, and a ban would have far-reaching consequences for the entire supply chain. The hemp extracts industry has been a contentious issue in recent years, with some arguing that the products are a threat to public health and safety. However, others argue that the products are safe and that the ban would unfairly target a legitimate industry. The proposed ban has sparked a heated debate among industry stakeholders, with some calling for a more nuanced approach to regulation. Others argue that the ban is necessary to protect public health and safety. The future outlook for the hemp extracts industry is uncertain, with many companies facing an uncertain regulatory environment. However, some industry experts remain optimistic, citing the potential for the industry to adapt to new regulations and continue to grow. In a statement, a spokesperson for the Hemp Industries Association said, "We are deeply concerned about the potential impact of this provision on the hemp extracts industry. We urge lawmakers to consider the unintended consequences of this ban and to work towards a more balanced approach to regulation." The proposed ban is a reminder of the complex and often contentious nature of the hemp extracts industry. As the industry continues to evolve, it remains to be seen how companies will adapt to a new regulatory environment and what the future holds for this rapidly growing industry.