The 2018 Farm Bill may be put forward for a vote some time in December 2018. If it passes, growing hemp in the United States will be legal for the first time in a hundred years. The hemp-derived CBD market is growing by the day. If the Farm Bill passes, and many are optimistic that it will, this could contribute to a growing CBD market that cannabis analysts such as the Brightfield Group posit could grow to $22 billion by 2022.
“There are three words why we have hemp now, and those words are tobacco state Republicans,” said Kristin Nichols, editor at Denver-based Hemp Industry Daily, a publication owned by MJBizDaily. “There’s been strong support from lawmakers and politicians up and down in former tobacco states looking for a replacement crop.”
The hemp provisions in the 2018 Farm Bill were in the Senate version of the legislation sponsored by Senate Majority Leader McConnell. The Kentucky Republican put himself on the joint Senate-House conference committee formed to hammer out the details of the final farm bill.