Hemp is a variety of the cannabis plant that contains very low levels of THC, the psychoactive compound found in marijuana. Despite the fact that hemp has many industrial uses and is not psychoactive, it was classified as a Schedule I controlled substance under the Controlled Substances Act, making it illegal to grow or possess without a license from the Drug Enforcement Administration.
The 2018 Farm Bill changed this by removing hemp from the list of controlled substances and redefining it as an agricultural commodity. This means that hemp is now subject to regulation by the U.S. Department of Agriculture (USDA) instead of the DEA, and farmers are now able to grow and sell hemp without fear of prosecution.
The legalization of hemp has had a major impact on the agricultural industry, with farmers across the country rushing to start growing the crop. Hemp can be used to make a variety of products, including textiles, paper, building materials, and even food products like hemp milk and protein powder. It is also used to make CBD, a non-psychoactive compound that has been shown to have a variety of health benefits.
The 2018 Farm Bill also paved the way for the development of a legal and regulated CBD industry. Previously, CBD was in a legal gray area, with some states allowing its sale and others prohibiting it. With hemp legalized at the federal level, CBD extracted from hemp is now legal across the country, as long as it contains less than 0.3% THC.
The legalization of hemp has also had a significant impact on the economy. The hemp industry is projected to be worth billions of dollars in the coming years, with hemp farming providing a new source of income for farmers and creating new jobs in manufacturing, processing, and distribution.
Overall, the 2018 Farm Bill was a major win for the hemp industry and for farmers across the country. With hemp now legal at the federal level, the industry is poised for rapid growth and innovation, with new products and uses for hemp being developed all the time.
