On December 20, 2018, President Trump signed the Agriculture Improvement Act of 2018 (popularly known as the 2018 Farm Bill) into law.
- Among the broad-ranging provisions included in the law, it legalizes the cultivation and sale of hemp at the federal level, effective January 1, 2019.
- Hemp and cannabidiol (CBD) businesses have thrived in numerous state jurisdictions in which such products are legal. Federal legalization means that hemp producers and businesses that deal in hemp and hemp-derived products, such as CBD, are now free to pursue their businesses more aggressively, and with less concern that a seismic shift in enforcement priorities could result in their investigation or prosecution by federal authorities.
In this update, we review the 2018 Farm Bill and the implications for those participating in the hemp and CBD industries.