House Committee Approval Of Amendment Eliminating 90% Of Hemp Intoxicating Products Could Drive Wedge Between Cannabis And Hemp Industries
Portfolio Pulse from Nina Zdinjak
The U.S. House Committee on Agriculture approved an amendment to the new Farm Bill that would eliminate most hemp-derived products, including those with any level of THC. This amendment aims to close a loophole from the 2018 Farm Bill that allowed intoxicating hemp products like Delta-8 THC to be sold. The amendment has sparked a divide between the cannabis and hemp industries, with significant opposition from hemp advocates and some cannabis companies supporting stricter regulations.
May 24, 2024 | 12:59 pm
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POSITIVE IMPACT
Acreage Holdings, as a member of the U.S. Cannabis Council, supports the amendment to regulate intoxicating hemp products similarly to cannabis products.
Acreage Holdings' support for the amendment aligns with its interests in reducing competition from unregulated hemp products, potentially benefiting its market position.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Canopy Growth, a member of the U.S. Cannabis Council, supports the amendment to regulate intoxicating hemp products similarly to cannabis products.
Canopy Growth is part of the U.S. Cannabis Council, which supports the amendment. This alignment with regulatory changes could benefit the company by reducing competition from unregulated hemp products.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Cresco Labs, as a member of the U.S. Cannabis Council, supports the amendment to regulate intoxicating hemp products similarly to cannabis products.
Cresco Labs' support for the amendment aligns with its interests in reducing competition from unregulated hemp products, potentially benefiting its market position.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
MariMed, as a member of the U.S. Cannabis Council, supports the amendment to regulate intoxicating hemp products similarly to cannabis products.
MariMed's support for the amendment is in line with its interests in stricter regulations for hemp products, which could reduce competition and benefit its business.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Verano Holdings, as a member of the U.S. Cannabis Council, supports the amendment to regulate intoxicating hemp products similarly to cannabis products.
Verano Holdings' support for the amendment is in line with its interests in stricter regulations for hemp products, which could reduce competition and benefit its business.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Curaleaf, despite being a member of the U.S. Cannabis Council, has launched a line of drinks with Delta-9 THC and prefers a unified regulatory framework for all cannabinoids.
Curaleaf's stance on preferring a unified regulatory framework indicates a nuanced position. While the amendment may impact its product lines, the company's proactive approach in launching compliant products shows adaptability.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70