Across the country, as alcohol consumption continues its downward trajectory, THC is filling the void.
Due to its controlled substance categorization, you’d think most businesses would want to stay away from the stuff, but the hemp loophole that resulted from the 2018 Farm Bill continues to open the way for most states. Anything hemp-derived is fair game, and now you can find cans blatantly advertising its THC infused liquid in Total Wine stores and the like.
According to Brightfield Group, the total sales in the country for hemp-derived THC drinks in 2020 was $400,000. Last year, it reached $382 million, and is projected to hit $571 million this year.
Take the company Cann, for example. When they started, they were taking their THC from marijuana. But in 2022, after Minnesota clarified its rules and basically opened the door for THC derived from hemp, they changed their formula and are skyrocketing in profit.
Half of the states in the country allow this loophole to continue with very little regulations. The trick with that of course is the potential for abuse and highly potent products to make it to our store aisles, but for now, most of these drinks cap the amount at 10mg of THC. For a non-user, that’d get close to knocking you out, but not enough to keep you down for too long.
The other uncertainty here is the federal government. All it would take it is one new bill that clarifies the language to squash the loophole and put all of these businesses out of business.
The farm bill has been extended until later this year, but the next iteration could put the kaputz on the entire thing. With Trump’s stance on marijuana completely up in the air, anything could happen.
Read the original article at CNN.
