The 2018 Farm Bill only waits President Trump’s signature before becoming law. This news has the hemp industry on the edge of their seats, as they eagerly eye the Oval Office. That is because the 2018 Farm Bill contains a provision that will federally legalize hemp, radically altering the scope of the hemp industry.
In a breaking news segment on Wednesday, December 12th, CNBC announced that the House of Representatives had passed the 2018 Farm Bill, meaning the final hurdle for this bill is Donald Trump’s signature. This will be a monumental shift in policy for hemp in the U.S. In the segment, CNBC’s anchor noted that if the Farm Bill passes, it “will be a game-changing moment for the CBD industry,” an industry that could hit $1 billion in 2019 and $22 billion by 2022.
Kannaway parent company Medical Marijuana, Inc. was listed among the top three CBD companies in a position to benefit from changes to U.S. hemp policy. National hemp legalization has the potential to alter the way Kannaway sources and manufactures its hemp, the types of products available to consumers throughout the U.S., and the size of the CBD market itself, as more and more consumers are introduced to CBD’s benefits.
There is no better time to be in the CBD industry than now on the ground floor, as hemp is about to receive federal validation. Learn more about how Kannaway is pioneering the CBD industry here.
You can view the full CNBC video clip here.