The era of hemp prohibition is over. Effective immediately, hemp is permanently deemed a legal agricultural commodity, and popular products such as hemp-derived cannabidiol (CBD) can no longer be mistaken as controlled substances, like marijuana. The Drug Enforcement Administration now has no possible claim to interfere with the interstate commerce of hemp products. This should give comfort to federally regulated institutions– banks, merchant services, credit card companies, e-commerce sites and advertising platforms — to engage in commerce with the hemp and hemp product industry. An exciting, emerging, multi-billion-dollar hemp industry is now unleashed, providing economic opportunity to farmers and small businesses all across America.
We are deeply grateful to the bi-partisan group of Congressmen who brought us to this historic moment. First and foremost, we thank Senate Majority Leader Mitch McConnell, who showed extraordinary leadership in putting the full weight of his influence behind passage of the hemp provisions in the Farm Bill to provide opportunity to Kentucky farmers. We are also grateful to Senators Ron Wyden and Rand Paul for their long-time leadership on the issue, to Rep. Jamie Comer for leading the effort in the House after setting the legalization process in motion as Kentucky’s Agriculture Commissioner; and to Reps. Bob Goodlatte, Earl Blumenauer, Jared Polis, and Thomas Massie for their continuing strong support. Finally, we appreciate the support from farm groups such as the American Farm Bureau Federation and the National Farmers Union, as well as state Agriculture Commissioners, especially Kentucky’s Ryan Quarles.
The U.S. Hemp Roundtable is the hemp industry’s leading business trade association. The Roundtable involves more than 60 businesses – representing all parts of the hemp food chain, from seed to sale – as well as all of the major national grassroots organizations in the industry. The Roundtable’s primary mission has been to support lobbying efforts to secure permanent legalization of hemp and hemp products at the federal and state level.
Jonathan Miller, General Counsel to the U.S. Hemp Roundtable, is the Member-in-Charge of Frost Brown Todd LLC (Lexington KY) and the former Kentucky State Treasurer and former Chair of the Kentucky Democratic Party.
Mr. Miller’s full analysis of the hemp provisions in the Farm Bill is attached and can also be found at https://hempsupporter.com/the-2018-farm-bill-now-fully-explained/
The U.S. Hemp Roundtable can be found at www.hempsupporter.com
The U.S. Hemp Authority can be found at www.ushempauthority.org