The Legalization of Hemp.
A 2018 Farm Bill is set to remove hemp from marijuana as a Schedule I drug in the Controlled Substances Act.
Cannabis -including hemp- is currently classified as a Schedule I drug in the Controlled Substances Act and regulated and enforced by the Drug Enforcement Agency (DEA). The 2018 Farm Bill is set to remove hemp from this classification and move regulations to the U.S Department of Agriculture(USDA). Hemp is distinguished from marijuana by the lower levels of THC (0.3%or below). If signed, it would allow nationwide hemp production and interstate commerce.
The legalization of industrial hemp will open up tremendous opportunities for farmers and entrepreneurs. Hemp is used in a variety of products from paper to foods and most of it is currently imported from other countries. If the bill is signed, it will create new jobs, and business opportunities across the country.
The FDA will have jurisdiction over CBD and hemp products for human use and consumption and the USDA will have 1 year to implement new regulations. The President has until December 21st to sign or veto the bill.