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Florida, Tribes Among The Latest To Get Federal OK For Hemp Production

Hemp was traditionally used to make rope, sails, flags, oils and foods. But it is derived from cannabis, the same plant as marijuana, and its production was outlawed in the U.S. in 1937. Later it was deemed a Schedule I substance and controlled by the Drug Enforcement Administration. Hemp has only 0.03% of the psychoactive compound THC compared to marijuana's 10% or more. The 2018 Farm Bill removed hemp from the definition of marijuana under the Controlled Substances Act. Now, states and tribes that want to allow hemp businesses must apply through the USDA, agreeing to regulate hemp production and sales in their jurisdictions.

Read more at: https://www.bisnow.com/south-florida/news/economy/miccosukee-tribe-hemp-plan-104464?utm_source=CopyShare&utm_medium=Browser

 

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