US Hemp Industry Faces Survival Crisis as Legal Loopholes Close

Key Facts

1The $28 billion THC industry is fighting for survival after a loophole in the hemp law was closed by Sen. Mitch McConnell.

2The industry is proposing self-regulation including age limits of 21+ and THC concentration caps per package.

The $28 billion hemp-derived THC industry is fighting for survival after a loophole in the hemp law was closed by Sen. Mitch McConnell. Fortune reported that the sector is now proposing new self-regulation measures, including restricting product sales to individuals aged 21 and older and implementing concentration caps for THC per package.

These regulatory challenges follow legislative shifts that threaten the legality of various hemp products. According to Fortune, industry participants are attempting to establish these internal limits to avoid a total ban and mitigate the impact of the closed legal loopholes on their business operations.