CBD Poised for Boom After Farm Bill
It’s still unclear how different federal agencies will interpret the new rules, but it doesn’t matter — people in the CBD industry are calling the new legislation a “game changer”
…While the previous Farm Bill, passed in 2014, eased some federal regulations on CBD production, this one goes much further. Most importantly, it removes hemp and any hemp derivative from the Controlled Substances Act, legally separating it from marijuana and putting its supervision under the Department of Agriculture. In the most basic sense, these plants serve three primary uses: fiber (paper and cloth), seeds (for hemp oil and food), and cannabinoid oils. It’s this last category that’s the most profitable and has the biggest potential for growth. The bill defines hemp as any part or derivative of cannabis with a THC level below 0.3 percent on a dry-weight basis.
It’s important to note, however, that the bill creates its own new regulations and gray areas.