The hemp industry is preparing for layoffs, reduced production, and potentially billions in lost revenue after Congress passed a government funding bill late Wednesday that included an unexpected provision effectively banning most hemp-derived consumer products.
Hemp — a form of the cannabis plant — was legalized in the 2018 Farm Bill for industrial purposes such as rope, textiles, and seed. But the broad wording of that law left a gap in federal THC regulations, experts say, which allowed companies to create psychoactive cannabinoids from hemp that was otherwise federally legal.
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