The 2018 Farm Bill is now one step away from becoming law after it was passed by both the Senate and House this past week. The omnibus bill contains language that will legalize domestic hemp cultivation and its use in commercial products nationwide. The bill will now be sent to President Trump, who is expected to sign it into law. This news was covered in an article on The Street’s Real Money, titled Farm Bill Passes, and These Hemp Companies Will Be Big Winners.
The article reads, “The impact of this legislation on the cannabis industry is enormous. Last year, hemp sales in the U.S. reached $820 million, according to the Hemp Business Journal. That’s without hemp being completely legal. These sales have been projected to reach $2.1 billion by 2020 — and that’s not taking into account the passage of the Farm Bill.”
The article also looked at the top companies in the hemp space. Kannaway parent company Medical Marijuana, Inc. was ranked third on the article’s list. According to the article, Medical Marijuana, Inc.’s family of companies control 10 percent of the hemp-derived CBD market.
With our unique distribution model and top quality line of CBD and hemp, Kannaway is in a position to dominate the industry’s future. To find more about Kannaway’s innovative approach to the CBD and hemp space here.
You can view the complete Real Money article here.