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McConnell's hemp loophole closure threatens $28B THC industry

By PulseAugur Editorial · [1 sources] ·

A significant loophole in the 2018 farm bill, championed by Sen. Mitch McConnell, allowed for the proliferation of a $28 billion industry producing intoxicating THC products derived from hemp. This loophole, which defined hemp by its low delta-9 THC content but allowed for high concentrations in final products, is now being closed by Congress. The effective date of the ban has been delayed to December 11, providing a brief window for the industry to advocate for regulation rather than outright prohibition, which threatens widespread job losses and significant revenue reduction. AI

RANK_REASON Policy change impacting a large industry. [lever_c_demoted from significant: ic=1 ai=0.0]

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AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

McConnell's hemp loophole closure threatens $28B THC industry

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Policy change impacting a large industry. [lever_c_demoted from significant: ic=1 ai=0.0]
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COVERAGE [1]

  1. Fortune TIER_1 English(EN) · Gene Johnson, The Associated Press ·

    Sen. Mitch McConnell closed a loophole in a hemp law he championed. Now a $28 billion THC industry that gets people high is fighting for survival

    The industry hopes to save itself by restricting impairing products to people 21 and older, limiting how much THC can be in a package, and banning imported cannabis compounds.

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