Thanks to the 2018 Farm Bill, hemp-based products are now quasi-legal throughout the United States and are also shippable across state lines, unlike marijuana. Companies of various sizes have begun betting on hemp-derived drinks as becoming the new trend for health-conscious and smoke-wary consumers.
Pharos Brands by Bernuth was one of the 30 hemp-derived THC beverage companies showcased at the Wine and Spirits Wholesalers of America’s expo, where 10% of the floor was allotted to hemp drink companies. Bernuth stated, “We want to mainstream this. We feel hemp beverages are an essential piece of destigmatizing THC.”
The latest move in this market is towards hemp-derived delta-9 THC products, which offer businesses, including Pharos, a sense of uncertainty. Federal regulations remain ambiguous, with the FDA publicly declaring “serious health risks” and the DEA implying that certain hemp extracts are illegal. Although enforcement actions have been limited, negative attention has come against companies marketing these unproven medical claims, usually just in the form of a cease-and-desist letter.
With the current, unstable state of the hemp-derived market, a retrospective glance at the 2018 Farm Bill’s effects raises questions about Congress’ potential future nosedive into the hemp-derived cannabinoid market.
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