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The 2018 Farm Bill includes language that officially removes hemp and all of its derivatives from the Controlled Substances Act (CSA). Both marijuana and hemp derive from the plant Cannabis Sativa L and until now, no distinction has been made in the CSA between the two plants. Language in the Farm Bill clearly defines hemp as Cannabis Sativa L plants with below .3% THC in the flower - above .3% THC is considered marijuana.
This ultimately lifts the legal gray area in which hemp derived CBD currently operates in, which paves the way for scaled and efficient business models for hemp derived CBD, cannabis and even consumer packaged goods companies to leverage. It will not be smooth sailing out of the gate however, as federal and state agencies react and make rules to regulate the industry.
Check out articles by our team of experts below on the CBD market, the implications of the Farm Bill and what this will mean for existing CBD companies, entrants and agencies.