President Donald Trump signed the Farm Bill on December 20, 2018, after an overwhelmingly supported vote from both the Senate and House of Representatives. Although the Farm Bill covers several aspects of agriculture and food stamp laws, one of the most significant changes from this bill is the fact that CBD and hemp are now legal in the United States.
Prior to the Farm Bill, hemp was listed as an illegal substance by the Justice Department, and CBD was under the restrictions of the Controlled Substances Act. Now, the Department of Agriculture will manage hemp crop growth, and CBD is no longer under the Controlled Substances Act.
What The Farm Bill Does For The CBD Industry
The Farm Bill covers several things, but there are two main points that are significant for the CBD industry and those who use CBD products. First, the Farm Bill legalizes hemp, which means that the prohibition on interstate CBD and hemp commerce is now lifted! Companies such as ourselves are free to sell CBD and hemp products across state lines, which means it is easier for you to access and receive the high-quality CBD products you want. However, even though interstate hemp commerce is now legal, it is important to note that individual states still have the power to enact their own laws related to using CBD and industrial hemp.
The second significant change is that hemp farmers now receive the same benefits as those who grow other crops. This means that hemp farmers can receive financial support from banks and payment creditors, people can invest in both the CBD oil and fibrous hemp industries, hemp farmers can buy crop insurance and trade hemp futures to lock in prices, and researchers are allowed to freely study the effects of hemp and CBD.
By providing these benefits for hemp farmers, the Farm Bill may make it easier for farmers to distribute and companies to purchase hemp, which could lower the product prices for customers. Also, with the ability to perform more studies and research on hemp and CBD, doctors and scientists could more readily accept CBD oil as an effective, natural supplement to improve overall health and well-being.