Congress Opens Door to $28B Hemp Market with Bipartisan Support
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Congress intentionally legalized all hemp derivatives and extracts, including intoxicating hemp derivatives (IHDs), through the 2018 Farm Bill. This was not a "loophole."
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The hemp market has two pathways non-cannabinoid uses (fiber, grain, etc.) which require infrastructure investment, and cannabinoids as ingredients for various products.
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The total addressable market for IHDs is estimated at $28.4 billion by economist Beau Whitney's analysis. Significant economic and tax revenue potential.
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Consumer demand, especially from Millennials and Gen Z, is driving growth of the IHD market. Consumers want these products and access outside of dispensaries.
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Marijuana companies should adapt to sell both marijuana products and federally legal IHDs. Fighting legal hemp makes no business sense when consumers want such products.