Hemp federally legalized in the U.S. and removed from Schedule I drug list

cannabis cbd hemp news US Senate

Dec 11, 2018, the U.S. Farm Bill hits Congress. The Senate approved an $867 billion agriculture law with a staggering 87 to 13 vote. The following day 369 to 47 vote in favor and pass the bill. Unttil now, hemp remained a Schedule-I substance, even though, the plant and its properties were regulated strictly.

The next stop is the desk of President Donald Trump, who is expected to sign it into law.

“This could be big,” McConnell told Lexington CBS affiliate WKYT. “I don’t want to overstate this. We all know how important tobacco was to Kentucky a few years ago, but there’s excitement about hemp.”As part of this Farm Bill, is that the U.S. will legalize hemp cultivation and production in the states on a federal level.

Senate Majority Leader Mitch McConnell, who is responsible for getting the hemp measure into the bill, tweeted shortly before the Senate vote. “My provision in the Farm Bill will not only legalize domestic hemp, but it will also allow state departments of agriculture to be responsible for its oversight.” McConnells state of Kentuky has deep roots in hemp cultivation.

Basically, the Farm Bill would take hemp off the federal controlled substances list. Farmers will be allowed to apply for federal hemp cultivation permits, and each state may decide to regulate the industry within their state as they choose.

The hemp-derived CBD market is expected to become a $22 billion industry by 2022, according to Brightfield Group.

"This is a pivotal and long-overdue moment for hemp in America," Shawn Hauser, chair of the Hemp and Cannabinoids Practice Group at Vicente Sederberg, said. "Following decades of prohibition under outdated drug laws, hemp will finally be treated like other crops and legal for U.S. farmers to grow. This historic legislation holds a lot of promise for our economy, the environment, and future generations.

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