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  • Post Time Posted December 13, 2018
On Wednesday the United States House of Representatives passed the 2018 Farm Bill, sending it to President Donald Trump to sign into law.

The five-year $867 billion bill is significant to the cannabis industry as it willy, among other things, end a decades-long ban on hemp cultivation in the US.

A provision of the bill, the Hemp Farming Act, amends the federal list of controlled substances and will reclassify the plant as an agricultural commodity. If signed by the President, the bill will: 
  1. Remove hemp, defined as cannabis containing no more than 0.3 percent tetrahydrocannabinol (THC) from the Controlled Substances Act.
  2. Allow U.S. farmers to grow, process, and sell the non-intoxicating variety of Cannabis sativa L., which has been harvested for centuries for its stalks and seeds to make thousands of products.
  3. Guarantee interstate commerce for hemp products, including cannabidiol (CBD) supplements.

Under implementation of the bill, analysts expect the $591 million U.S. hemp CBD market to balloon to $22 billion by as soon as 2022.

Source: https://news.medicalmarijuanainc.com/farm-bill-passes-house/\

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