Over the past month, I've passionately advocated for low-dose THC beverages as a pathway to broader legalization in my newsletter, Infused Insights (if you haven’t read or watched any of the content yet, I recommend starting with this article or this video). When I started the series, nobody could have predicted the intense regulatory activity that would occur over that same time period.
After what felt like years of either ambiguity or stagnation in policy reform, the DEA released their proposed rulemaking for rescheduling cannabis to Schedule III and the Farm Bill draft was released by the House within 24 hours of each other. In the week that followed, the Farm Bill draft was revised, amended, and approved by the House Ag Committee. To the surprise of many, Amendment 35 (aka the Miller Amendment), which essentially seeks to place hemp-derived intoxicating products back on the Controlled Substances Act (CSA), was submitted in the eleventh hour and passed by the House Ag Committee without incident the following morning.
While the amendment presents an existential threat to the expansive hemp industry that has emerged over the past six years since the 2018 Farm Bill — an industry that some estimate now approaches $30B in annual revenue — it's important to remember this is just the first step in a long legislative process. The Farm Bill has a significant journey ahead before it's finalized and this is an opportunity for all interested stakeholders to get involved, work towards further amendments, revisions, and ultimately, a bill that reflects the best interests of all stakeholders.
There's still time to make a difference! If you want to participate in the movement, you can:
Your voice matters, and by uniting as an industry, we can advocate for a future where cannabis — inclusive of the hemp industry — thrives under sensible regulations. Through these efforts, a clear foundation for building businesses and industry, free of ambiguities and nuance, can be achieved.