THC

EndlessSummerburn

Schedule III? Xanax is schedule IV. You’re telling me Benzos have a lower abuse potential than THC? The entire scheduling system sucks and needs to be reworked from the ground up.

DowntownWpg

THC CBN CBD vape for the win...😀

teaanimesquare

To be fair, a lot of states with legal weed limited delta 8 and the other types of THC sales already since it was cutting into their taxes and had no regulation.

ctnoxin

The spending bill that JUST passed fucked the marijuna and even hemp industry by outlawing anything with more than 0.4 milligrams of THC per container. Now he’s going to re-schedule it? WTF is even going on anymore.

HaddonH

Alcohol Lobby > THC Lobby

SavageApricot37

Gosh looking information up is hard. The 2018 Agriculture Improvement Act (the farm bill signed by President Trump in December 2018) expanded the statutory definition of hemp to mean any part of the Cannabis sativa plant and all derivatives, extracts, and cannabinoids with no more than 0.3 percent delta‑9 THC on a dry weight basis. Under this definition, hemp and its derivatives, including certain cannabinoids like cannabidiol (CBD), were excluded from the federal Controlled Substances Act (CSA) definition of marijuana and no longer classified as Schedule I controlled substances. Because the definition focused on delta‑9 THC and included all derivatives and cannabinoids of hemp, a market for psychoactive hemp‑derived products like delta‑8 THC and similar compounds emerged. These products can produce intoxicating effects similar to marijuana but remained legal under the farm bill’s hemp definition because they were derived from hemp and stayed below the specified delta‑9 threshold. This created regulatory ambiguity and a booming market for intoxicating cannabinoids that federal agencies and some states have since tried to address. In November 2025, Congress included a provision in a government funding bill that changes the federal definition of hemp, undoing much of the 2018 Farm Bill’s broad legal status for hemp‑derived cannabinoids. Under the new law: Hemp must meet a total THC measurement (not just delta‑9 THC), meaning even other intoxicating cannabinoids like delta‑8, delta‑10, THCA, HHC and similar compounds could fall outside the hemp category. Final consumer products with more than 0.4 milligrams of total THC per container will not qualify as “hemp” and could be treated like marijuana under federal law. Cannabinoids that are synthesized or manufactured outside the plant are excluded from the hemp definition, effectively targeting many lab‑produced intoxicants. These provisions are set to take effect in November 2026, giving a one‑year transition period. This significantly limits or bans many hemp‑derived THC products that had been federally legal under the 2018 Farm Bill because they stayed under the delta‑9 THC limit even if they contained other psychoactive cannabinoids.

AverageNo130

Beyond Ohio consumer rules, SB 56 folds intoxicating hemp into the regulated marijuana market. Products such as delta-8 THC gummies and other hemp-derived intoxicants could no longer be sold in gas stations or convenience stores and would instead be limited to licensed dispensaries.  marijuan herald

SurprisedByItAll

While reddit Trump hating is a favorite past time some, Trump is pro cannabis but needed to get the shutdown ended. The federal hemp THC ban was introduced by Senator Mitch McConnell (R-KY), who played a central role in both the original 2018 Farm Bill that legalized hemp and the subsequent legislation to ban intoxicating hemp products. McConnell, who is retiring in January 2027, has been a leading figure in closing what he describes as a "loophole" in the 2018 Farm Bill that allowed the proliferation of unregulated, intoxicating hemp-derived products. The ban was included in the spending package to reopen the federal government, which passed the Senate on November 10, 2025, and was signed into law by President Donald Trump.

Laserdollarz

I can moonlight as a THC acronym Dispensary Namer. 

Plodding_Mediocrity

Many legal states use a per se statute limiting the amount of THC or THC metabolites in a person's bloodstream rather then dealing directly with a person's intoxication level since no accepted on-the-scene test for such exists. For example, in my state of Ohio, I can get a DWI if a blood test shows THC over 2 nanograms per milliliter of whole blood and 50 nanograms of metabolites per milliliter. Metabloites can remain in your blood for weeks. Whie I'm unsure if this technology is considered accurate (this NIH published study seems to indicate it may not be [https://pubmed.ncbi.nlm.nih.gov/39008974/](https://pubmed.ncbi.nlm.nih.gov/39008974/) ) it could remedy the situation where a person is found guilty of DWI despite no recent use.

windowzombie

I don't know how to help, but that's insane that one false accusation can lead to this. Over something as dumb as THC that is legal in so many states. Get out of that state after you get your finances back.

oakformonday

So, no THC products but only CBD and that is considered narcotics in Texas? Again, WUT. Until recently there was a pot store across the street from the police station where I live in California--where it is legal and regulated. It's a good thing they didn't find the THC gummies in my baggage when I flew to Dallas or the schrooms I took to El Paso. If I had done something like that and been caught, it sounds like I would be in prison for life--hell, it would probably be electric chair. Note to self, stay the F out of Texas going forward. Sorry this shit happened to you.

Legitimate-Post-418

Texas Civil Forfeiture. The online report she sent was enough for them to search me. The CBD cans in my car were enough to get a search warrant for my house. And in the house they found a bag of CBD gummies that were manufactured in Texas with no THC. They said it was real Marianna and because it was gummies it was based on weight so they called it a large amount of narcotics.

skyplt29

Figuring It Out: Very well said. This subreddit has degenerated into MSO bag holders arguing with LP bag holders. Each showing glee when the other group suffers a setback. Hemp derived CBD and THC is now scorned and companies who took advantage of a “legal” loophole while the government continues to botch this entire thing up are considered villains. When LPs gain the MSO bunch chirp…and vice versa. I don’t blame folks, after years of absurdity there is a tendency to forget the federal government (both Dems and Reps) has not done the right thing and this industry is in a protracted rut as a result.  Yet our President pardons a President of another country convicted of drug trafficking. The absurdities of this administration just pile up. I am reminded of Covid. For the first two weeks everyone was all koombiya and let’s get through this together. By week 3 folks were hoarding Listerine and toilet paper. As the article states, let’s hope the hemp farmers, LPs, and MSOs band together and pressure the federal government to finally take definitive action to set up a regulatory environment (like alcohol) and reschedule. This should have happened 5 years ago! This is so painfully obvious, and painful to watch the same players (Mitch, Schumer and the rest of the octogenarians) perched on Capitol Hill eating in their high end restaurants arguing with one another while over 60% of the population they supposedly represent are in favor of not just rescheduling, but legalization. It makes one’s mind hurt.

GeoLogic23

[Total Wine & More](https://lda.senate.gov/filings/public/filing/e9e9d72b-bf21-4907-b83e-4d50f7142d3a/print/) registered a second lobbyist to lobby for hemp, called HB Strategies, which is the firm run by Roy Blunt and his family. One of the lobbyists is also Roy Blunt's former chief of staff. Roy Blunt is the former Senator from Missouri, who has been known as [Monsanto's guy in Washington](https://www.motherjones.com/food/2013/04/sen-roy-blunt-monsantos-man-washington/). His wife was also a prominent lobbyist for Altria/PMI when they got married. Note that Altria is a big investor in AB InBev, and both AB InBev and Monsanto are headquartered in Missouri. Monsanto is known for dominating agriculture through patenting seeds and genetics. We should always keep an eye on them. The whole idea of having federal legalization based on a completely arbitrary (and difficult to consistently replicate) THC limit of <0.3% would be a perfect situation for a company like Monsanto to monopolize by owning the genetics that are stabilized <0.3%. A cannabis/hemp genetics companies called Phylos Biosciences got into hot water back in 2019 when they got recorded saying they were [preparing to sell out to big agriculture](https://mjbizdaily.com/phylos-bioscience-causes-cannabis-industry-disturbance-in-big-ag-video/). >In the video, Holmes boasted how Phylos had a “really huge lead” because **it had been collecting cannabis data and intellectual property for four years.** >“**By the time (the Big Ag companies) do get here**, we’ll be releasing outrageous new cannabis varieties every few months,” Holmes said. “We’ll have a foothold they can unseat us from, but it will take them three to four years to build what we built.” >He also spotlighted Phylos staffers who had worked for Big Ag companies Syngenta and the former DowDuPont. >“Having these guys around is critical for us because **we’re building a company that is ultimately going to be acquired by that universe**,” Holmes told the room. They were working on genetics for CBD and low-THC hemp strains. Partners like East Fork cut off ties after it was revealed they were planning on selling out to big ag. >East Fork Cultivars CEO Mason Walker said the company’s goal was to expand the pool of CBD-dominant genetics, both hemp and marijuana. >East Fork Cultivars targets the CBD and low-THC market as a business strategy to help distinguish the company Phylos Biosciences was the first US investment made by BAT/OGI.

Adept_Trick_7217

How about saving hemp THC as well

Strong-Comment-7279

I trade SPY, mostly 0dte. You can see what I did today by going over to the spy board on IHub - advfn - I made a big post of all my trades. I was 12% down for the day realized, but also have 100 687c for tmrw that are like 5%+ up at close on cost average. I expect to see 690 tmrw, and a slight possibility of a violent rally above. Been trading spy 0dte for about 7 months now - full time, and I do take 1D - 4 months positions. Not profitable, but yada yada yada. I've made some excellent friends, learned a lot, and am thrilled with the potential. In a race against the calendar to make up 110k in losses for the year. I was doing really well until trumo bonded Iran. The only thing I'm going to hold overnight in this market is SPY. And if it's greater than a week, rat's a lotto play. I am wild. I have one other focus atm. It is KOAN. Holy F that's weird. You can also see me there on IHub at that board. THAT is a dangerous play that I'm in love with for like 9 years now through 3 companies. Major losses, unrealized, recently bought 69,444 and plan on buying a few million. I will post there if that occurs and before I enter the order - by 24 hours. I'm not trying to pump anything - I'm in love with it. First it was advertising - a field I worked in; then THC tinctures, game on; now blue laser regenerative spa therapeutics and rejuvenating skin creams? Ok! I'm game. I also see BURU as an interesting company. Blue lasers again, something I love. Bought 5 shares around 0.34 so I see it. Upgrading my internet soon - and my machine. 8 yr old gaming laptop (MSI Phantom Pro 69) is suffering from a weird build aspect, and I expect to be down for a day next week. IHub is a very dangerous place - but if you know what you're doing, then you know what you're doing.

Sideview_play

Pretty sure CBD wasn't illegal before 2018. It's the delta 8 / low percentage THC that got legalized in 2018 as I understand it but maybe I'm wrong 

GeoLogic23

Trump pardoned Tim Leiweke. He was indicted by Trump's own justice department in July. Because of this Leiweke was forced to step down as CEO of Oak View Group. [Oak View Group is a major player in sports and entertainment arenas](https://www.oakviewgroup.com/venues/). They have also been partnered for a couple years with [Green Monke for hemp-derived THC beverages](https://www.globenewswire.com/news-release/2023/10/19/2763417/0/en/St-Peter-s-Drinks-and-Oak-View-Group-Partner-to-Introduce-Green-Monk%C3%A9-Hemp-Derived-Drinks-at-Live-Entertainment-Venues-Throughout-U-S-and-UK.html), with plans to launch them throughout their arena venues as it is allowed. I know they were plans to launch them at Amerant Bank Arena (Florida Panthers) a while back but I don't think that happened. Green Monke subsequently [partnered with Cookies](https://www.businesswire.com/news/home/20250116546614/en/Cookies-and-Green-Monk-Bring-New-THC-Infused-Drinks-to-Ten-US-States) for hemp-derived THC beverages early in 2025, launching them at Circle K and Total Wine & More. Oak View Group is also partnered with Kevin Durant (35 Ventures) to operate CFG Bank Arena in Baltimore. Kevin Durant has several cannabis investments, and [CFG Bank is one of the associated companies](https://lda.senate.gov/filings/public/filing/e0fac382-6c04-425a-8e6c-3aefadce96f4/print/) on the lobbying registration for the National Medicinal Cannabis Coalition, along with Cohen Inc and Curio Wellness. CFG Bank entered the cannabis space in early 2021 after working with Curio.

Laughing_Sheikh

Stock price and market cap are way below its counterparts when you compare their financials. Cresco is the largest cannabis producer in North America and has done really well to consolidate and take debt off its books over the last year. Low interest rates in the coming year are going to benefit them dramatically. Cash flow has been trending positive and should make them profitable in the next year on par with a company like GTI. Couple that with the crack down on hemp, derived THC, the potential for Medicare to cover some of these costs, and the near eventuality of federal loosening under Trump as he and certain members of Congress lose political favor in the upcoming midterms. He’s hinted a lot, but I believe it’s coming. It’s one of the more popular topics amongst the general public and it’s coming. I know the company and the people involved in it intimately and they have been there since inception. This thing should be at least three times the price that it is right now. Once the fed loosening hits, we’re talking much larger multipliers.

GeoLogic23

[Why didn't you respond to this?](https://www.reddit.com/r/weedstocks/comments/1pc6o65/comment/nrxwk1p/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button) I could get sick from lettuce being sprayed with pesticides, but that doesn't mean salmonella isn't a real disease. You keep using one example from Colorado to pretend like this is all fabricated. Again I am not saying whatsoever that CHS is any sort of real problem. Probably very rare and often misdiagnosed. It's just foolish to reflexively discredit scientists who are trying to figure out causes of illnesses. Drugs have side effects. It's not unreasonable to think some people could have a bad reaction to taking high doses of THC for a long time. It discredits us when people see us pretending that cannabis is 100% safe to use for everybody. Here is a new study from [November 24, 2025](https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2841769) talking about CHS. This is referenced in [CNN's reporting](https://www.cnn.com/2025/12/02/health/scromiting-marijuana-vomiting-syndrome-wellness) of the story, which also references a study from [July 2025](https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2836403). Here are multiple new studies discussing it. And you can see all the references at the bottom of the wikipedia page from my previous comment. Discussions about this go back for a very long time across many geographic areas.

GeoLogic23

Total Wine & More has registered to lobby federally for the first time ever. They started using a Florida connected lobbying firm on December 1st, and they are lobbying for [low dose THC beverages](https://lda.senate.gov/filings/public/filing/50e84376-c52a-4460-a504-c8bc7e2de939/print/). >Issues and regulations related to adult beverages and hemp derived THC infused low dose beverages

Tech_Fox

Vapes do not use “essential oils”. They use vegetable glycerin and propylene glycol. The cases of lipid pneumonia in teenagers are several years old at this point and it was proven they were using illegal home brewed THC cartridges that were cut with vitamin E acetate to simulate the viscosity of real THC cartridges sold in legitimate dispensaries. The blame was thrown on vaping because what else will a teenager tell their parents they were doing that landed them in the hospital. Better to blame a vape than admit to smoking illegal THC. Educate yourself first before spreading blatant misinformation and furthering the restriction of less than harmful alternatives to cigarette smokers to the benefit of big tobacco companies.

bangers132

You don’t know what you’re talking about. All hemp derived products containing more than 400 micrograms of THC PER CONTAINER are to be banned. All hemp ever contains minuscule amounts of THC that do not exceed a psychoactive threshold. It’s a plant. The same plant that produces THC. So, believe it or not, it’s going to produce THC even if it is bred specifically to not do that.

yea-uhuh

Reefer madness has escalated lately. "CHS" vomiting in particular is a weird topic to see in news feeds again.. in Colorado there was a mysterious rise in this bullshit among experienced heavy users early on, then a sudden drop-off in clinical "CHS" diagnosis after some disgruntled industry whistleblowers pointed to neem oil being carelessly used on mature flowering plants by "licensed" growers who were simply clueless. 100%. Cheap concentrates was main issue. Hospitals never looked into what was being consumed, they just said "meh, I guess THC is a poison."

yea-uhuh

WHO looked at fewer people than Stoner bro, for sure. They only reviewed hospital notes. In Colorado there was a mysterious rise in this bullshit among experienced heavy users early on, then a sudden drop-off in clinical "CHS" diagnosis after industry whistleblowers pointed to neem oil being carelessly used on mature flowering plants by "licensed" growers who were simply clueless. Hospitals never looked into what was being consumed, they just said "meh, I guess THC is a poison."

GeoLogic23

A hemp THC beverage company does not have production scale, distributors who already carry their products, and retailers who are providing them shelf space. You can buy a brand, but if you can't put it in front of your customers you aren't going to sell it. Almost the entire hemp THC market has been direct to consumer (online). In recent years, mainstream retail, bars, concerts, etc have been picking them up, leading to a drastic increase in sales. If THC beverages are regulated like alcohol, you aren't going to see brands being shipped through the mail all over the country. You are going to see traditional distributors and retailers selling the product through the three-tier system. For a company to be successful in a developed beverage market they need to have their products through all three tiers. That doesn't happen overnight. I've commented on this a lot, but imo some of Tilray's beer brands are purely placeholders for new THC beverages. That's why they aren't bothering trying to revitalize those brands. They aren't capable of doing that better than AB InBev or Molson could have. They don't even have a tiny fraction of their marketing budget. This isn't even getting into the differences between brewing beers and seltzers. There aren't any THC beers on the market right now. It's a much more difficult process to make a THC beer than a seltzer, and even non-alcoholic beers are still regulated by the TTB. No current hemp beverage company would have the capability of producing non-alcoholic THC beers at any scale whatsoever. Probably not a coincidence that Tilray is branding their non-alcoholic beers with a cannabis-adjacent name like "Runner's High".

GeoLogic23

Idk why you keep referencing the alcohol acquisitions as if they are a move away from cannabis. They've been extremely clear their goal is selling THC beverages in the US, and acquiring beverage assets is an obvious part of that plan. It's the fastest growing segment in cannabis right now, and the only segment with active investments being looked at by major companies like BAT (OGI bought Collective Project) and Pernod Ricard (actively looking for investment). Beverages are a big part of the cannabis discussion right now. Whether it works out or not is a completely different question, which you are absolutely correct to be skeptical about. But acting like buying alcohol companies was just some random move away from cannabis is ignoring everything they've been saying for years. It's not a Frankenstein company. It's a company that is betting big on THC beverages. Maybe it will work out and maybe it won't. Or maybe Irwin Simon will be run out of town by villagers with torches.

GeoLogic23

They're just betting on hemp beverages being regulated. Idk why people are making this so complicated. Most acquisitions have been focused on the US beverage market, and Simon has repeatedly said for years that selling THC infused beverages in the US is one of their biggest goals. It's pretty obvious to me that their plan was to buy underperforming alcohol brands from big alcohol in order to get in on their distribution/retail. Then they consolidate production of those beer brands, and wait for THC beverages to be regulated. You then cut off the underperforming beer brands, and replace that retail shelf space and distribution space with your THC beverages. You don't just create retail/distribution space out of thin air. It's an extremely competitive part of the beverage industry. But you just can't cut your underperforming brands off without having the replacement ready to go, because that empty shelf/distribution space will get filled by a competitor. Tilray isn't better at revitalizing brands than AB InBev or Molson, and they don't have the marketing budget to do it anyway. That was never a real plan imo. Several of those brands are purely placeholders for THC beverages. Whether betting on THC beverages works or not is a different story. Some don't believe hemp beverages will exist in a year. I do think they will exist in a year. Whether or not Tilray is a leader in that space is also a different story, but they are certainly set up to take advantage of it if that market were to get regulated. I've been refraining from even discussing Tilray lately because people here are so aggressive when a comment can be perceived as being positive about Tilray. But my main point is that **you aren't betting on S3 as a Tilray holder. You are betting on hemp THC beverage regulation.** I am in no way saying this is going to happen. But if you were Tilray and you were assuming hemp beverages were getting regulated, and you were hoping to get some sort of investment from a bev/alcohol CPG company, then you would skip the 6 month extension period and just get yourself in compliance with your exchange. OGI also skipped the extension period before they reverse split, and then they promptly got another investment by BAT. Again I am not saying that will happen, but the idea of reverse splitting to allow yourself to receive an investment has actual recent history in our sector. And we do have big alcohol companies like Pernod Ricard actively looking at hemp beverage investments. It's not unreasonable to think that the reverse split timing is just Tilray making themselves available IF an investment were to present itself.

HugeDramatic

Alcohol sales down 54%. Intoxicating hemp THC banned. Department of Health running CBD trials for pain and mental disorder treatment. Multiple court cases in the pipeline for rescheduling and 280E relief. FUD in full swing with random accounts posting about how 10% of cannabis users ‘throw up’ and I’m also seeing ‘gateway drug’ commentary revived. Everything is primed for regulated state operators to break out. The sector is ready.

sdkiko

I am not a holder but here's a quote from their PR: "The recent amendments introduced in the Farm Bill by the US government included a redefinition of hemp and THC standards. Under the amendments, finished hemp-derived products must contain no more than 0.4 mg of total THC per container, which effectively bans nearly all intoxicating hemp products like delta-8 gummies, THCA flower, and THC beverages. For licensed cultivators in legal states such as 1933 Industries, the hemp ban could reduce competition from hemp-derived THC businesses, especially in states where hemp products previously filled gaps in consumer demand. This shift may increase demand for regulated cannabis products, creating a potential growth opportunity for licensed operators, reducing price pressure and consumer diversion." This is why people who panic sold this last drop without doing even a small amount of research made a big mistake.

sdkiko

"The recent amendments introduced in the Farm Bill by the US government included a redefinition of hemp and THC standards. Under the amendments, finished hemp-derived products must contain no more than 0.4 mg of total THC per container, which effectively bans nearly all intoxicating hemp products like delta-8 gummies, THCA flower, and THC beverages. For licensed cultivators in legal states such as 1933 Industries, the hemp ban could reduce competition from hemp-derived THC businesses, especially in states where hemp products previously filled gaps in consumer demand. This shift may increase demand for regulated cannabis products, creating a potential growth opportunity for licensed operators, reducing price pressure and consumer diversion." This is why people who panic sold this last drop without doing even a small amount of research made a big mistake.

volckerwasright

I guess this subreddit is just going to get brigaded by hemp loopholers now. Its not a federal THC ban, because THC was already "federally banned". What it is actually doing is putting hemp and marijuana on an even playing field, which will be revenue positive for these companies.

RealEstateWindsor

Just put the fries in the bag bro. You're clearly incompetent if you don't understand this whole "hemp" THC ban. 

pinetreeclimbing

This is a pipe dream. Chronic users (myself) will have constantly high THC levels whether they are intoxicated or not. Very hard to accurately predict a level of a substance that's fat soluble and how that relates to actual impairment. Another example is fentanyl or buprenorphine, those, with chronic use, can stick around for a looong time even without having an effect on sobriety. I say this as a user of both cannabis and opiates for over 25 years. For those I knew on probation and monitored, positive tests wouldn't automatically cause a violation unless levels increased from the previous test. A THC breathalyzer is a massive class action lawsuit waiting to happen.

Strange_Calendar_698

Couldn’t agree more. And all the illicit THC busts going on across the country. Things are getting cleaned up and a tidy narrative is emerging for big Don to make the move.

Brilliant_Guidance65

I'm putting THC in the dressing. Molly in the banana pudding. The truth will be revealed.

GeoLogic23

I hit the dispensary for pre-holiday discounts today. I check every new bag of flower I get to see whether or not it would technically qualify as "hemp" or not. This bag is another from Trulieve, and it does qualify as hemp with 0.26% THC and a whopping 34.95% THCa. In just my limited anecdotal experience, Trulieve has had a lot of strains coming in under 0.3% THC in recent months. I still think that would be the best argument for getting 280e refunded. If you show COAs that prove your THC/THCa percentages, you could claim that the specific batches that were under 0.3% THC should have been considered hemp for tax purposes.

GeoLogic23

Technically you could still buy CBD isolate, but by far the most popular type of CBD product is full spectrum CBD. Full spectrum contains other cannabinoids, including small amounts of THC, so it would be affected by this ban.

GeoLogic23

No they are just putting some tighter restrictions on products. People are worried because full spectrum CBD contains a small amount of THC, which would be affected. And that's by far the most popular type of CBD product. But companies also sell completely THC-free CBD, which wouldn't be affected by the ban. Typically you really want to use full spectrum whenever possible because of the entourage effect.

SpecificImpossible45

Gift link: https://www.bloomberg.com/news/articles/2025-11-26/medicare-to-test-making-cbd-treatment-available-for-seniors?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTc2NDE4MDkxMCwiZXhwIjoxNzY0Nzg1NzEwLCJhcnRpY2xlSWQiOiJUNkFDTkNLR1pBSkQwMCIsImJjb25uZWN0SWQiOiI2NzU0MjcwQzI0NDQ0Qzk2QjQ2OTg0MEUxNkQyNUE0RiJ9.5SJoOEXSnnS5mRRWbiDM6ySAaZKo2CqvVVUmc9H5Dr0&leadSource=uverify+wall “Details of the program couldn’t immediately be learned, but an early version of the plan focused on seniors in oncology and palliative care settings, according to a summary viewed by Bloomberg. Howard Kessler, a payments financier who has advocated for expanded CBD access, met with Health and Human Services Secretary Robert F. Kennedy Jr. about the issue last month, the people added. Christopher Krepich, a spokesperson for CMS, said the agency doesn’t speculate on future rulemaking or potential actions. Kessler didn’t respond to requests for comment. In September, Trump shared a video on Truth Social that supported Medicare coverage of CBD. The video, which sent cannabis stocks soaring, pitched the compound as a natural remedy that could extend seniors’ lives. It was produced by the Commonwealth Project, a group Kessler founded that promotes access to CBD products for seniors. Shares of cannabis stocks including Tilray Brands Inc. and Aurora Cannabis Inc. briefly rose to session highs on Wednesday. CBD is sold in a number of products, from gummies and tinctures to pet treats and skincare. A branded version is also approved by US regulators to treat seizures associated with severe forms of epilepsy. State laws regarding CBD vary, and the recent spending bill signed by Trump is poised to restrict access to many CBD products made from hemp that contain THC, the compound responsible for marijuana’s intoxicating properties.”

GeoLogic23

That is my understanding that it is synthetically produced THC, but chemically identical to THC you would extract from a plant if you could extract it and nothing else. When reading about it, it's unclear if it **has** to be synthetic though, or if it just has to be 100% pure THC to be considered "dronabinol". Whatever it is, it is hypocritical of our government to know THC has a medical benefit for so long, yet leave cannabis on Schedule 1. Even if they really thought other stuff in cannabis could potentially be harmful, most drugs have all kinds of random side effects. That doesn't negate the fact that the THC in cannabis would be providing a medical benefit, and therefore it should've been at least Schedule 2 for decades now.

skyplt29

Great info GeoLogic, as usual. Would S3 afford opportunities to determine the impact of these trace amounts of cannabinoids in "less pure" THC?

GeoLogic23

THC has actually been approved by the FDA for decades to treat nausea from AIDS and chemotherapy. https://en.wikipedia.org/wiki/Dronabinol This is pure THC. The issue with cannabis flower and many extracts is that they contain a ton of other cannabinoids in tiny amounts. So the FDA can't claim cannabis flower is safe because it has no info on all those other cannabinoids.

yea-uhuh

Texas unveiled a simple "21+" rule for THC (yesterday, for 180-days)... "2025 Hemp Ban" will surely be softened, perhaps undone entirely. Does anyone else perceive S3 as a potential trap ? Trivial for USDOJ to seize bank accounts, instead of searching for laundered cash. None of these early companies will halt sales to pursue FDA approvals under S3. They'll still flaunt Federal law, clinging to hopes and dreams of a continuing non-enforcement policy. Endless acreage of empty greenhouse plots erected lately, built by major produce operators who never planted Cannabis (yet). Mostly in illegal states that haven't meddled with endlessly shifting regulations.

skyplt29

So ironic. But I found watching the series helping me better understand some of today's issues in Washington. For those of us here who are well versed in cannabis, it is hard to understand why rescheduling to S3 has not happened. My bias is medical. Full disclosure is I do not utilize CBD or THC for recreational purposes. I am still a bottle of nice red wine type of guy. I also don't smoke...anything. I like my lungs too much. But for pain management of my arthritis, it has given me a whole new lease on life. Today I am going out to rake leaves...unheard of before without taking at least three Tylenol. In preparation for today's work I had a CBD gummy (albeit there is a small amount of THC in these ones). It relieves the pain...and also has a calming effect. Who knew raking leaves would become an "organic" experience. Over the years I have followed the use of CBD for the treatment of epilepsy, Alzheimer's, Parkinson's, and of course, alleviation of chemotherapy effects (pain) for cancer patients. Such a better alternative than opioids. Unfortunately, most of the reports on the effectiveness of CBD (and THC) are anecdotal as S1 prohibits researchers from doing federally legal work. For the life of me I simply do not understand why S3 is not a higher priority here. Legalization is a whole other issue, and something I foresee taking much longer (less longer now that hemp industry is involved). But medical? I grow angrier with our government with each day that passes and they fuck around with the politics of it all thus restricting more from getting a more natural form of pain relief. Shame on all of them.

TroubledAcorn

Honestly I am starting to feel more bullish then ever. We suddenly have Politicians talking about THC and taking action at federal and state level. This hemp things going to cause a massive issue if it doesn’t lead to some kind of further reform or S3. Many states looking to ignore the Fed ban and implement their own regulations. States like TX, FL, MN, NC , SC, MA, KY, CO Theres probably more but thats what I have off the top of my head. These are some huge red states, and if S3 isn’t passed it will kill their carve outs. This would see like a political disaster for Trump, and go against his entire leave it to the states stance. So I don’t see that happening , hence S3 incoming or some kind of reform.

HugeDramatic

This sector is manipulated and the OTC circuit breakers are ridiculous. Even if Trump announces something positive about cannabis, it will have to happen after hours for a proper gap up. But I still perceive more upside than downside. The intoxicating hemp THC ban is the most significant catalyst for policy change that we’ve seen since before Covid. Some of the signs seem obvious: - All of the recent drug busts by the federal government never name cannabis seized, only fentanyl, meth and cocaine. - The DEA is led by someone mostly neutral on cannabis, and the incoming drug czar appears to be pro medical cannabis. - The Koch foundation (Americans for Prosperity) is supporting the constitutional rights of the cannabis industry in the Supreme Court. - Multiple court cases on the go challenging the applicability and constitutionality of 280E taxes on an industry that is in many cases state legal but federally illegal. - The current admin is failing to take action on 80/20 issues. This is the lowest hanging fruit that can generate grassroots support amongst libertarians and small government republicans. - Trump has, on several occasions, publicly stated his support for medical cannabis. Also, a bit silly, but wtf was Mike Tyson even doing at the White House if he’s not talking about cannabis and rescheduling/descheduling (notwithstanding reports that he’s not there to talk about cannabis).

TroubledAcorn

You are paying attention! You are absolutely right. So heres what we know. There is going to be many states that do their own beverages carve outs regardless of what the Federal government does. However your points are correct, hemp being Schedule 1 will mean 280e tax will apply. That will absolutely kill the industry on its own. Because of complications, only dealing in cash, retailers not wanting to deal with it, having to double the price of already expensive THC drinks making them unaffordable. So to solve this problem, the Fed is either needs to make its own hemp beverage carve out, or do Schedule 3. The liquor companies that lobby to get it hemp banned, specifically stated they wanted regulation and to enter the space. The Beverages are big, many normal folks drinking them, especially in Red states, the states want it, the demand is high. The people want it, the states want, the lobbyists want it. Politically it makes sense, and it would hurt Trump in the Red states alot to not do something. THC beverages are here to stay. I think one way or another it will work it out before the ban. But no matter what I know there will be a regulated market for this in the future, the demand is there.

wentzco

One thing that caught my attention from the subtack article was "the market is essentially valuing RYM’s hemp portfolio somewhere between negative –$150M to +$60M after royalties RYM will clip solely in the regulated channel." So - it does "appear" undervalued. Even if states do have beverage carve-outs, there is a big issue. Liquor stores & breweries would pay higher taxes because of a section in the federal tax code that forbids businesses from selling illegal substances & get business expense tax deductions. They also couldn't work with credit card companies or many banks which is why cannabis dispensaries largely use cash. The liquor stores would choose to not carry the THC drinks because of this. Would sales in dispensaries only keep revenue up? In comments made - Rythm’s CEO Ben Kovler said that in dispensaries, "you’re seeing 1%–2% sales of the total basket in beverage." In contrast, he referenced a liquor store (Top Ten Liquors in Minnesota) "seeing upwards of 20% of sales in THC" in the beverage category. So it looks like the majority of sales happen in liquor stores. I understand that a THC beverage bill is in the works but that will be a big gamble to have it passed.

Successful_Car1670

Maybe drugging people with THC was bad?

NewAccount428412

Congratulations and keep it up. Im 1 month off THC after being stoned for the past 15 years or so. Sitting here working up the courage to kick my massive nicotine addiction as we speak.

trulyhighlyregarded

Quit both THC and nicotine at the same time. Starting to feel normal again. 😮‍💨

Imaginary_Rooster622

I watched a YouTube video this morning called The THC HEMP Ban backfired by LegalNewsNetwork. Im probably not allowed to post the link so I won't try. There were times in the video where I scoffed and said " WTF did you expect. It was a loophole gone rouge". Some allegations I was iffy on but....All in All I came away with a very strong feeling. This administration and every lawmaker both sides of the aisles really have No Choice but to Fix this Mess. I don't see Cannabis losing in the outcome. S3 or Descheduling is the only way to really fix this. I hope you watch the video and comment on it

GeoLogic23

The only difference between THCa hemp and medical cannabis are the testing requirements. It's the exact same plant otherwise. Medical cannabis you can be sure is free from pesticides/contaminants, its labelling accurately represents its THC, and it only contains natural cannabinoids. Corner store weed could be sprayed with who knows what pesticides, could wildly vary on actual THC content, and may be coated with Delta 8 or other synthetically produced cannabinoids to boost the THC content. Medical cannabis companies wouldn't sell their medical product to these corner stores, because medical companies are licensed and regulated to only sell to dispensaries. There are definitely licensed cannabis companies that unload extra product on the black market, but it's illegal. Short story is that you shouldn't trust corner store weed, because people in that market will cut any corner they can to make a profit. They do not care if they are providing a safe product, as long as it is selling. And nobody is monitoring them at all. I would never eat at an establishment that has never once been checked for food safety. So I wouldn't inhale smoke from a product that also has never been checked for safety. And inhalation is a much more dangerous route for absorbing toxins than ingestion. You really don't want to mess around with inhaling unknown substances.

Turbul

Corner-store or gas-station ‘weed’ (hemp-THC) often isn’t regulated the same way. In many states, tests have found pesticides, mold, or other contaminants, while medical cannabis must pass strict lab testing. It really depends on the state, but medical is generally much safer.

skyplt29

Who knew THC actually stood for “Tilray Haters Club”.

Commercial_Safety781

Kinda funny how Florida won’t legalize it fully but Circle K is out here selling THC drinks like it’s no big deal.

6ixpapa

Around 11 we are going to get a THC fed green candle

JoeyVottoS

Best morning shits recipe: Nicotine -> caffeine -> THC in that order

Actual_Homework_9110

The Republicans literally BANNED all hemp products containing even trace amounts of THC. Most states don’t have legalarijuana. All states had legal CBD, derived from hemp. These products help millions of Americans with sleep support, anxiety and pain relief and it has a multitude of medicinal benefits for issues like blood pressure, etc. Natural remedies that are massively beneficial without the drawbacks of alternatives like alcohol. Anyone who thinks full spectrum CBD is the same as “taking drugs” is a complete moron. The GOP is ignorant, uninformed and destructive. CBD helps millions and harms absolutely no one. Republicans are destroyers. 

Mind_Eclipse

I’m with you. I don’t see how hemp reform “clean house” for nonhemp thc. You could just outright legalize it and it would fall by the wayside anyhow. Who’d buy hemp derived THC when big tobacco/big marijuana would outcompete it anyhow? Unless some shadow lobby for legal weed helped push close this loophole. But as it stands the demand for any-origin thc and the associated infrastructure from property to employees to head shops are still there. The ripple effect will be wide. I agree with others in that I HOPE this pushes the needle toward federal legalization. Alcohol sales are down and thc is one of the reasons why. So unless big alcohol is trying to squash thc, I don’t get it really. The farm bill coming change will hurt business.

Ok-Replacement9595

How does.that make sense? Why don't we just have the states regulate the whole plant, THC and all?

manualCAD

Everyone is trying to figure out why hemp companies are throwing a fit and saying THC got "banned" when it's still a schedule 1 substance according to the federal government.

intentsman

Does cracking down on hemp because of low THC levels suggest an intention to legalize higher THC cannabis?

intentsman

Why do you believe that tightening the noose on hemp's low THC is in alignment with loosening restrictions on higher THC sources?

snark42

> they may do like PA where you have to have a licensed pharmacist on hand in order to sell THC products. That's interesting as they would all be putting their DEA license at risk. I tried to find a pharmacist willing to work at a dispensary where it wasn't required and none would touch it because of that.

shoei310

Having medical cannabis won't make it federally legal, nor does it guarantee banking referendums. It will require people to see a "doctor" and get prescriptions. If it's just "medical", they may do like PA where you have to have a licensed pharmacist on hand in order to sell THC products. None of that will resolve current issues.

Old-Outside6894

That’s a great move and really the only way this could have happened. Regulate THC. That’s what they will do.

IllBuyYourCar

Nicotine Caffeine THC In that order

four_twenty_4_20

>but if that were the case they would have outlawed all cannabis in the ‘must pass’ CR, not just hemp THC. Cannabis is already federally illegal as an S1 substance...

HugeDramatic

I can’t believe it only took ~9 days to walk some of these stocks back down to near all time lows. It made sense to me when the 2024 FL recreational cannabis amendment failed since so much hype had been built up on it and the bubble popped…. This time I don’t get it at all. Hemp is literally the number one competition for state regulated cannabis and the government just shut the door on that. Maybe the sentiment is that the republicans are heading more towards general prohibition with that move… but if that were the case they would have outlawed all cannabis in the ‘must pass’ CR, not just hemp THC.

GeoLogic23

I don't think he's anything great as a CEO. I think he just has connections and knows big alcohol has been laying groundwork to move into this space for years. They've worked with AB InBev and Molson, including acquiring assets from them, and using AB InBev distributors, so I'm sure they've had lots of discussions. Even back in his early health food days this was his strategy. His smaller company would try to ride the wave of health food trends pushed by the big guys. I remember one interview where he discussed how he was super happy to see a much bigger competitor advertising rice cakes or something like that that Hain was also pushing. His reasoning was that when the big guys push the sector forward it lifts all boats. So when big alcohol moves into the sector, there are only going to be a few other companies with the distribution/ manufacturing to play in the same market as the big guys. Either Tilray partners with a big alcohol player to jump start that company's move into the space, or they just ride the wave of THC beverages as an independent company. So i see his plan as essentially playing nice with big alcohol and buying their underperformed assets and stuff, so that he's allowed to join them in the hemp beverage market when it becomes a real regulated market.

bananastock

Except this is event driven news. Bloomberg terminals show "Hemp THC ban" across all the companies. Algos and humans react not know the real impact.

Tiaan

It's all just so wonky to me: * MSOs biggest competitor (intoxicating hemp) is banned with nearly 80 senators voting in favor * The urgency for cannabis reform over the next 365 days is now greater than ever, as otherwise millions of Americans will lose access to THC products that they've come to enjoy and rely on. Doesn't make sense to take this away without any alternative right before midterms * Rumblings of rescheduling sometime Q1 2026 (within 4 months from today) or at least before midterms, with clear signs from the administration that they plan to see the rescheduling process through to some sort of end result * Fed has been cutting interest rates, with even more cuts coming in 2026, which benefits higher risk sectors like cannabis more than others Yet we're going down, and not just a slow bleed, but a panic-driven free fall almost in a straight line down as if all cannabis is being sent back to the stone ages of prohibition. This will be the 7th week in a row where we close red. I think the longest red week streak that I see on the MSOS chart was 8 weeks, so one more week to go before we break this record!!

gopoohgo

Dunno. Maybe the end of the Farm Bill hemp-derived THC exception was a bigger deal than initially thought? That and the THC reclassification effort seems to have died out

hapns

You're correct to say that there is data suggesting that CBD is basically ineffective without THC-- look up the "entourage effect." But, broad-spectrum products are those products that contain minor cannabinoids, and have d9-THC removed from them. You've got CBD isolate, which should only contain CBD, broad-spectrum, which should only contain CBD, CBG, CBN, and the minor forms of these cannabinoids, then you have full-spectrum products (which are known to work the best), which include all cannabinoids found in the cannabis sativa plant (CBD, CBG, CBN, & d9-THC).  With the bill the way it stands, you will not be able to legally sell any full-spectrum CBD product, rendering the entire industry more-or-less dead. There's also another category, which is the snake-oil types that you can see here: [https://www.amazon.com/Gummies-Advanced-Strength-Reduction-Relaxation/dp/B0C3C3D547?sr=8-6](https://www.amazon.com/Gummies-Advanced-Strength-Reduction-Relaxation/dp/B0C3C3D547?sr=8-6) Amazons TOS says you can't sell CBD products on their platform, so anything you see for sale on Amazon does not contain any cannabinoid, yet they're being marketed in a way that is trying to convince people that they're helpful, and or healthy.

thatthatswhy

I’m mostly reacting to products that are broad-spectrum will probably be safe because I feel like those are the only effective CBD products anyway, just based on my own body’s reaction to these things. Also from what I’ve seen, unless you have research that proves otherwise, CBD is basically ineffective without THC, which is why broad-spectrum is better.

hapns

There's an interesting story behind d8-THC products. I worked with a lab to publish a scientific analysis of the reasons why d8-THC products are... the way they are, and the findings were interesting. Aside from what I've written below, you also should not take d8 products, as the process for creating d8 from CBD isolate involves basically boiling the product in acid, and we haven't even figured out what 10% of the product is that you end up with... Basically, the reason why delta 8 products produce psychoactive effects, similar to d9-THC products, is due to the fact that the vast majority of them contain enormous amounts of d9-THC. The COAs that d8 companies are publishing on their websites show a histogram with one single peak where d8 is supposed to be found. The problem is that the testing method used for the COAs was created prior to d8-THC being something that anyone was looking for. If you use an updated testing method, which zooms in on that peak, you'll see that it's not a single peak (just d8), it's actually 2 peaks very close together (d8, and d9). Most d8 products are essentially cannabis products. I had tested a 3Chi d8 tincture, which was 1 oz, and contained something like 115mg of d9-THC-- it was like 15% THC, and was able to be purchased online and shipped to you.

thatthatswhy

Also as for delta 8 itself as a product for THC consumption, I can’t lie. I was basically introduced to the world of weed through delta 8, because I didn’t have a desire to get a medical license and I didn’t trust the street stuff that people in my family would use. But I also don’t like the effects delta 8 had which is why I did end up getting a med card. So I totally get not really wanting to lose that. But maybe down the line we can make like THCa legal since that’s better anyway.

hapns

it's not just the delta-8 products though... It effectively bans all CBD products, with the exception of those that are processed to become CBD isolate products, or broad-spectrum products in some cases. The inclusion of d8 in the total THC content part of the 2018 farm bill is what you're referring to, but they're also limiting the total THC content of an entire package to 0.4mg. That means that the only products that will be able to be purchased are CBD isolate products (chemical process to isolate CBD from the cannabis sativa plant), and broad-spectrum products (also a chemical extraction of d9-THC). It seems there's a lot of focus on "gas station weed," when this bill passing makes 95% of all CBD products illegal, destroying an entire industry. There will not be a billion dollar industry left with 5% of the products legal to be sold-- that's asinine. Not everyone has access to legal cannabis, and the millions of people in states where CBD products are legal, and cannabis is not rely on these products for various reasons.

hapns

I'm not sure where you got that last statement from, but the new rules say no more than 0.4mg of THC in the entire container. This basically destroys the entire CBD industry, with the exception of those who are selling CBD isolate, or broad-spectrum products. The rules effectively ban 95% of all CBD products in the market right now, so I'm not really sure if this is the best solution.

1_FCKTRD

Agreed. Any product other than beverages with a THC level above 0.3% is taxed at 3% of the total sales price and must be sold in accordance with state law. The bill already outlines how these proceeds will be allocated. In order to save the alcohol industry, beverages would be permitted to be sold wherever alcohol is allowed and taxed the same, but with a cap on the amount of intoxicating THC.

skyplt29

I think most will agree the intent of the 2018 Farm Bill was NOT to provide a gateway for unregulated THC products to be produced and sold. Who knew there were different “Deltas” out there. I sure didn’t! I do now. I also think most will agree the closure of this loophole in the government’s spending bill that ended the shutdown was unexpected. I am left having to make some investment decisions in the midst of misinformation and uncertainty. The core question I am asking myself is whether the Farm Bill hemp loophole closure will compel this industry to band together and apply pressure for S3 and SAFER and the government make substantive changes - or - is it a signal the present administration has no intent of addressing cannabis rescheduling. 40 States have some sort of medical access. 24 of those States have recreational. That is where the MSOs operate. Hemp derived THC has 52 weeks to get out of 52 states…or perhaps just 28 states? I am biased toward the idea of this Farm Bill amendment pushing a pathway to S3. But then, I was not counting on this government so focused on determining what rich and powerful politicians and financiers were fucking fifteen year olds. Nor did I ever expect a President would suggest a Washington Post journalist being assassinated was okay because, well, the journalist was not very popular. Just when you think this cannot get any more insane! Not selling now…but sure hope the trend reverses.

Swearwolfofwallst

Pfizer CEO would grab it, grind it into the carpet and pass out Xanax and Zoloft and say THC products are dangerous.

KAI5ER

You’re drawing the wrong conclusion from the bill. The bill didn’t reaffirm THC illegality, it targeted *synthetic intoxicants* (Delta-8, Delta-10, THCa conversion mills) that EVERY stakeholder has been begging Congress to shut down for two years. If they wanted to crack down on THC, they could have done that too. They didn’t. They left all regulated cannabis untouched. And yes, the loophole closing sucks for people in prohibition states that part’s true. But politically, that actually *increases* pressure on those states to finally create medical or adult-use programs. It stops giving lawmakers the excuse of “they can get their weed already.” It forces them to deal with reality instead of hiding behind hemp slop. Also the idea that Democrats won’t vote for positive cannabis reform just isn’t grounded in evidence. They’ve passed SAFE in the House multiple times, supported rescheduling, pushed HOPE, GRAM, STATES 2.0, and half their caucus openly campaigns on legalization. If anything, they would get crucified by their own voter base if they *didn’t* support cannabis reform the only consistent friction point has been when people try to tack on **social-equity amendments** that tank GOP support. (the ol' poison pill) Nothing in it suggests reform is dead. If anything, it cleans up the landscape right before rescheduling lands. and we needed the hemp loophole closed. It was 90% of the talking points of SAM on overdose, and general irresponsibility.

Russticale

Hemp derived THC/CBD beverages have been driving the growth of THC beverages.  But we can give credit to the ladies, why not

GeoLogic23

She was trying to remove it from the controlled substance list and have it regulated like alcohol, right? Pretty consistent with hemp interests. She was a speaker for the Wine and Spirits Wholesalers regarding cannabis. They're one of the organizations fighting against the hemp ban. https://www.wswa.org/news/rep-nancy-mace-opens-wswa-panel-discussion-federal-cannabis-reform Before her bills, other hemp friendly congressmen introduce bills called "regulate cannabis like alcohol act". https://www.congress.gov/bill/116th-congress/house-bill/420 Note one thing they were trying to do early on is to transfer oversight of cannabis from the DEA to the ATF. Instead of the FDA/DEA handling regulation/ enforcement they wanted it under the TTB/ATF. https://en.wikipedia.org/wiki/Alcohol_and_Tobacco_Tax_and_Trade_Bureau We've been waiting for years for the FDA to regulate CBD. But it makes sense for Congress to refuse to provide the FDA those resources if the goal was to regulate all cannabis products through the same organization that oversees big alcohol and big tobacco. One interesting thing to me is that you don't see any hemp THC beers. As opposed to hemp seltzers which are just bubbly water with THC, all beer is regulated by the TTB even when it is non-alcoholic. This creates a serious division in regulatory oversight for THC beverages that you don't have with other alcoholic beverages. If we are going to have a hemp THC beverage market, beer is obviously going to be a part of that. So the TTB needs to have oversight of cannabis in some form, so that they can regulate non-alcoholic THC beers.

heliumbox

> Those "high THC" hemp products (eg THC drinks) are cannabis products. Why would they have carveout for some of these hemp products when they're actually cannabis products? Because clearly the market has spoken. THC drinks are to expensive, there is almost no market for them at the price point. Hemp drinks are a viable market at their price point. I'mma give up though, clearly you're right and the government totally didn't take a step backwards and the entire market is pricing these names wrong (as always).

Tiaan

They did actually regulate hemp. They explicitly clarified the definition of hemp and provided clear regulations for it. Why would they include carveouts if the goal was to end the loophole? This is what people don't seem to be getting. The intention is not, and never was, to have the hemp and cannabis markets selling the same product. The intention has always been that hemp is industrial and non-intoxicating products while cannabis is intoxicating products. Those "high THC" hemp products (eg THC drinks) are cannabis products. Why would they have carveout for some of these hemp products when they're actually cannabis products?

heliumbox

They could have regulated hemp THC, they did not. They could have added carve outs for certain products, they did not. Its all speculative, they didn't help "legal" states, they didn't crack down on states. There actions taken can be looked at either positive or negative equally. However stocks do not like FUD and congress certainly didn't help dispel that notion thus we bleed hard (on top of all of the other issues facing the industry and politics involved).

Tiaan

They could've included language blocking rescheduling, they did not. They could've included language cracking down on state legal and medical markets, they did not. All that they did was close the hemp loophole that allowed for intoxicating products. It was impossible to do this without "cracking down on THC" as you're calling it. Again, you're reading way more into it than is intended, but you're accurately reflecting the market sentiment, so it's not surprising

heliumbox

> just because they didn't doesn't mean that they're cracking down on THC It does actually mean that, literally. I'm not saying they're going to go further (I'm sure some would like to but its largely unpopular) but they did in-fact crack down on THC, federally. You can talk in circles about how its different or fill your lungs with hopium but the fact is they realigned all THC as **illegal** federally and offered no alternatives.

Tiaan

Well that's quite hyperbolic. Yes, the 2018 farm bill passed 7 years ago, but that doesn't mean this loophole has been exploited to this level for the past 7 years. I'm in an illegal state and have been a regular user of these intoxicating hemp products, primarily THCa flower, for years now. THCa flower only really became mainstream maybe around 3 years ago. Up until then, it was a slow progression of primarily type 3 flower (CBD), to some vendors offering farm bill compliant type 2 flower (CBD with medium-high THC). Eventually that turned into predominantly type 1 (high THC flower) with most lab testing being completely fake. This took place around 3 years ago, and that's when all these intoxicating hemp products really became mainstream. Would it have been better if congress legalized cannabis at the same time that they banned intoxicating hemp? Yes, obviously, but just because they didn't doesn't mean that they're cracking down on THC or that Trump isn't going to reschedule cannabis. What is different this time though is that people got a taste of federally legalized cannabis, and taking it away is extremely unpopular. We're even seeing a lot of the big hemp players finally join team cannabis and push for comprehensive cannabis reform, as it should've been from the start. I highly doubt that Trump and the GOP will just let this situation deteriorate over the next year into midterms unless they just insist on losing. I find it far more likely that we'll get rescheduling or some federal action for cannabis reform in the coming year ahead of midterms

SwordfishOk504

Good article dispelling a lot of the FUD about the Farm Bill loophole closing: [No, the US did not just ban hemp and/or THC](https://stratcann.com/insight/no-the-us-did-not-just-ban-hemp-and-or-thc/)

1_FCKTRD

The 2018 Farm Bill was enacted to benefit the industrial hemp industry with a THC content of less than 0.3%. It was pioneered and sponsored by Senator Mitch McConnell, the biggest anti-cannabis legislator on the Hill. It's ridiculous that people are now labeling intoxicating hemp actors as "good" or "bad." The bottom line is that they all exploited a technicality in the law to circumvent the legislation's intended purpose. Now, as a separate issue, this is all coming from the man who, as majority leader, would always say that the safe banking legislation must be voted on as a standalone bill. I get the hypocrisy. Good riddance, Mitch! Enjoy your mules in Moscow!

SwordfishOk504

Yep. Been saying this for weeks now. The comments in here really highlight the stupidity this article is trying to dispel. It's almost meta how perfectly it's encapsulated. Basically every article on this topic has talked about a "THC ban" or a "hemp ban" yet it's very obviously neither.

Tiaan

All they did was redefine hemp to meet the original intent of the farm bill, which means industrial uses and non-intoxicating products such as CBD. Anyone who reads this as "doubling down on cracking down on THC in all forms!" is reading way too far into this

heliumbox

I keep reading "no news", "why we dropping", "we wanted this" and I just don't get how you all don't see how this is a major red flag. Congress could have added in clarification of any of the states rights, weed is medicine, tax and regulate or any sort of reform but they didn't. Congress signaled (and forced the issue suddenly in a government funding bill out of nowhere) that THC is *still* **illegal**. The fact they didn't give any indication of reform or allude to further carve outs/actions w/e and just closed the loophole in the most definitive way is **bad news**. We did want the loophole closed but more-so we wanted reform. Congress did the opposite, they doubled down on THC being the issue. Largely the loophole closed makes still illegal states suffer and hardly will effect the bottom line of where MSOs operate. At best we will see more states push for state programs. With republican's in charge and dems refusing to vote for anything put forth by republican's it is very unlikely we get favorable reform from congress. Our best hope and unhinged lottery ticket is Trump taking it upon himself but with his "medical is good, rec is really bad" I'm not going to hold my breath that it is everything we've dreamed of.

skyplt29

I am disappointed we are not seeing more PR from the individual MSOs about the positive aspects of this change to the Farm Bill. It puts all CBD and THC products on the same level regardless of source.