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Hemp THC industry faces $28B threat from looming federal ban
A $28.3 billion American hemp industry faces potential elimination following a Congressional decision to close a loophole in the 2018 Farm Bill. The pending federal rule would cap total THC in finished hemp-derived products at 0.4 milligrams per container, a threshold significantly lower than the previous standard of 0.3 percent delta-9 THC by weight.
Industry analysts from Whitney Economics suggest the ban could displace 225,000 jobs and reduce retail revenues by $28.3 billion. The policy change threatens a wide range of products, including THC-infused beverages, gummies, and smokable cannabis flowers that have become common in mainstream retail.
Tilray Brands has noted that its current THC drinks, which contain 5 to 10 milligrams of delta-9 THC per can, would exceed the new limit. While the ban was originally set for November 12, a recent government-funding bill signed by President Donald Trump delayed the effective date to December 11, providing Congress additional time to consider regulatory alternatives rather than an outright prohibition.
Entities
Deutermann Farms · Donald Trump · Mitch McConnell · Nicholas Hohns · Tilray Brands, Inc. · United States Congress
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Senator Mitch McConnell inserted a hemp THC ban into a measure that ended a government shutdown, closing a loophole in the 2018 farm bill. www.durangoherald.com · time.news · www.world-today-news.com
- [● 2 SOURCES] The 2018 farm bill defined legal hemp as containing less than 0.3 percent delta-9 THC by weight. www.durangoherald.com · www.world-today-news.com
- [● 10 SOURCES] Congress voted to close a loophole in federal law that allowed intoxicating hemp products to flourish. www.durangoherald.com · mugglehead.com · www.wjfw.com · time.news · www.wdio.com · +5 more
- [● 9 SOURCES] A short-term government-funding bill signed by President Donald Trump delayed the hemp THC ban effective date from Nov. 12 to Dec. 11. www.durangoherald.com · mugglehead.com · time.news · www.wdio.com · www.wishtv.com · +4 more
- [○ 1 SOURCE] Tilray Brands produces hemp-derived drinks containing 5 or 10 milligrams of delta-9 THC per can, which exceeds the pending federal limit. mugglehead.com
- [○ 1 SOURCE] Industry advocates are lobbying for regulations such as age restrictions for sales, potency caps, and bans on imported cannabis compounds to save the market. www.world-today-news.com
- [○ 1 SOURCE] The revised federal definition excludes finished hemp-derived products containing more than 0.4 milligrams of combined THC and similar cannabinoids per container. mugglehead.com
- [○ 1 SOURCE] The federal ban threatens to reduce retail revenues by $28.3 billion, displace 225,000 jobs, and strip state governments of $2.1 billion in sales tax revenue. www.world-today-news.com