Hemp Provisions in Farm Act Open Door for CBD Market
Editorial Staff
| DIGITAL EXCLUSIVE
Until recently, hemp was classified as a Schedule 1 drug per the federal Controlled Substances Act, putting it in the same class as heroin (and marijuana). That all appears to change with passage of the Agricultural Improvement Act of 2018 (the Farm Bill), which includes historic provisions (section 10113) related to hemp and thus hemp-derived cannibidiol (CBD). President Trump is expected to sign the bill.
The Hemp Farming Act of 2018, originally introduced by Sen. Majority Leader Mitch McConnell (R-Kent.) as stand-alone legislation, but ultimately rolled into the Farm Act, reclassifies hemp for commercial purposes and legalizes its cultivation, processing, manufacturing and sale. It also moves hemp from Drug Enforcement Administration (DEA) oversight to what Sen. McConnell hopes will be "light regulation" by the Dept. of Agriculture.
For the growing CBD market, the hemp provisions in the Farm Bill effectively declassify hemp-derived CBD as a controlled substance and legalize its use nationwide. Already an estimated $600 million industry, some now suggest market expansion to $20 billion or higher by 2022.
Hemp's former classification as a controlled substance has long associated it with marijuana. While both are derived from the same species, hemp – and thus hemp-derived CBD – has a negligible amount (0.3% or less) of tetrahydrocannabinol (THC), the psychoactive compound known for giving marijuana users a "high."
The hemp provisions in the 2018 bill represent the next big step forward from provisions in section 7606 of the 2013 Farm Bill, which differentiated industrial hemp from marijuana based on THC content, and authorized state-regulated research and pilot programs in states that allowed hemp cultivation. At least 35 states ultimately developed industrial hemp programs.
Editor's Note: We've hosted several webinars this year on the health and wellness benefits of CBD. Click here to access our complete archives. Complete references (some of which are hyperlinked in this breaking news article) appear in the February 2019 print / digital issues.
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