The one problem that comes with cannabis industry growth—it creates a whole lot of waste.
Washington State alone created almost 2 million pounds of plant waste in the first three years cannabis was legalized. All that waste has to go somewhere, right?
In December 2019, the Trump administration legalized hemp at the federal level. Hemp is a type of cannabis that contains more CBD (cannabidiol) and less of psychoactive THC (tetrahydrocannabinol). THC can be dangerous when consumed in large quantities. Meanwhile, CBD is used to treat various health issues. It’s also used as a raw material in food and other products. Despite hemp legalization, the FDA hasn’t approved any CBD products except Epidiolex, which treats seizures. As a result, selling and distributing CBD products isn’t legal.
House lawmakers are growing increasingly frustrated with restrictions on federal marijuana research and are putting pressure on regulators to change the rules.
While 33 states have legalized marijuana for medicinal purposes, federal research is extremely restricted.
Global cannabis sales rose 48% to $15 billion in 2019, driven by growth in sales in Canada and seven U.S. states that saw sales more than double.
This agreement reflects the companies’ shared commitment to offering Canadian consumers access to high quality medical cannabis products.
Shares of several cannabis stocks soared yesterday on news that Democrat and Republican representatives introduced a bill in the U.S. House of Representatives that would allow hemp-derived cannabidiol (CBD) products to be marketed as dietary supplements. Charlotte's Web Holdings (OTC:CWBH.F) was the biggest winner, with shares jumping 16.2% as of 2:57 p.m. EST on Wednesday.
Because so many growers joined in, businesses and farmers are now seeing demand for that hemp shrinking.
An initial rush to plant caused a boom in the Tennessee hemp industry, but because so many growers joined in, businesses and local farmers are now seeing demand for that product shrinking.
Hemp processor and retailer Bluhen Botanicals announced Wednesday it will be facing layoffs and cutbacks due to challenges across the industry. It opened a store in downtown Knoxville last year.
A House panel on Wednesday is set to examine some of the barriers to marijuana research amid a growing disconnect between federal and state policies.
“There is a chasm between the federal laws and what over 30 states are doing,” Rep. Anna Eshoo (D-Calif.) told The Hill in an interview Tuesday.
