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One of the biggest cannabis stories defining 2024 doesn’t involve marijuana.

It’s all about hemp laws – or, more specifically, the increasingly popular derivative compounds such as concentrated delta-9 products and smokeable THCA. The rise of what are now being labelled as “intoxicating goods” has blurred the line between hemp and marijuana and is reshaping each industry.

Corporate weed is taking notice. Now, a number of well-known companies are getting in on the act. From Curaleaf and Cookes to (Mike) Tyson2.0 and Jeeter. The legal anomaly opened up a floodgate for companies.

Glass House Brands CEO Kyle Kazan said, “We are actively meeting with large distributors and are considering DTC products or direct to consumers shipped from our farm in Southern California to people in states that legally allow it.” Tell investors last month.

Kazan said, “While we’re excited about the prospects because growing this plant is in our wheelhouse and California-grown biomass is in high demand on the market, our ultimate decision is driven by return on investment.”

THCA run

The 2018 Farm Bill defines hemp as cannabis plants that contain no more than 0.3% delta-9-THC by dry weight. The bill did not regulate THCA – the non-psychoactive precursor of THC that naturally occurs in the plant. When heated, THCA transforms into THC and produces the “high” associated to marijuana use.

This distinction has created a thriving THCA market in states that have little or no traditional marijuana from a legal standpoint.

Since the Farm Bill was passed six years ago, the regulatory landscape has changed almost continuously. State and federal agencies are often at odds about how to deal with the new situation. In California, Gov. Gavin Newsom, the governor of California, recently Issue emergency rules Similar moves have been taken recently by officials in New Jersey You can also find out more about the following: Missouri.

“The bad parts of those rules, it doesn’t effect us,” Graham Farrar said, co-founder of Glass House and president. Green Market Report This week. “If anything, this is probably better for our business as it will funnel a bunch new consumers who heard about it back into the dispensary channel.”

Farrar told investors recently that the three most populous states, Florida, New York, and Texas, “currently have law standards that would permit this flower and edibles be shipped into them.” The market size could be massive. It looks more like how we had hoped and expected cannabis to look by this point.”

Farrar stated that “we are one of California’s best growers.” Green Market Report. “We will work on whatever regulatory program is needed to get this product to the consumers.”

The situation is also complex at the federal level. The Drug Enforcement Administration (DEA) has declared that THCA is a controlled substance.

But a recent ruling by the federal appeals court challenged This interpretation states that if something is defined under federal definition as hemp, it will remain hemp, regardless of any subsequent processing.

‘Big picture’

Industry experts claim that the lack of understanding by lawmakers about hemp’s industrial uses is due to the tycoons of the Gilded Age who worked against the development of hemp, despite it being a useful commodity in other parts the world.

“There was a lot of industries that hemp touched that were suddenly, once the kind of the millionaire-billionaire guys – the Rockefellers and William Randolph Hearst and others … Once they got involvedBeau Whitney, an expert in the cannabis industry, said that they would promote policies that were in their best interests.

It’s not just a matter of ideological gridlock between business owners on both sides of the recent hemp vs. cannabis beef. The regulatory and legal rifts create a climate of unease that hurts hemp as much as marijuana.

Investors are saying, “Well, screw it, I won’t deal with that.” Whitney said, “I don’t know if something will be legal tomorrow and illegal the next.

Whitney said that farmers are “screaming” for animal feed due to a global shortage.

“American animal farmers are culling herds as they can’t feed the animals, and then people wonder why meat prices are increasing,” he said.

Whitney’s Own analysis According to the report, hemp products that are legal under federal law could be worth $28 billion. But to realize such potential, it is necessary to navigate a complex web that can vary greatly from state-to-state.

The explosive growth of the intoxicating Hemp market has also raised questions about product safety and age restrictions. Many hemp-derived products do not have to meet the same labeling and testing requirements as cannabis products.

Farrar stated, “We don’t believe products should be untested.” “We believe they should be safe for consumption.”

He said, “There is no agreement on what intoxicating means.”

Farrar is in favor of a more uniform approach to cannabis regulation. Parallels with the alcohol industry

“You don’t really see bathtub gin around, do you? There is not much fake alcohol. “Speakeasies don’t exist anymore because they treat it rationally,” said he. “And if that’s what we do with cannabis, then all these problems will solve themselves.”

The art of “common sense”

THCA and hemp-based products can – literally and metaphorically – keep the doors open for struggling cannabis companies and bypass the common, now-traditional medical marijuana barriers. This is why so many marijuana companies have been around for so long.

Direct-to-consumer advertising will continue, even if Congress decides to stop it by the deadline of the Farm Bill on September 30.

“But much of this policy has already been done Based on emotion” Whitney said. “When people take the emotion out of it and start looking at the issue from a human perspective, or from an employment standpoint, they tend to change a little bit their mind.”

Whitney stated that ill-informed legislation stifles innovation and investment in the hemp industry. He called for a more nuanced approach to policy.

Whitney said, “We need to regulate the product intent level.”

He envisions a system in which hemp products are regulated according to their intended use rather than a one size fits all approach.

Whitney argues that it makes no sense to not test for pesticides and byproducts when you are making food to be consumed.

On the other hand, he questions current regulations that require the testing of THC levels in hemp products that are not consumable like roof tiles or fabrics.

“We need to use common sense in all of this. There needs to be less emotion and less villainization of hemp industry.”