A $28 billion hemp THC industry is fighting to save itself from a looming federal ban

Key Points:

• The U.S. hemp industry producing impairing THC products, such as gummies and beverages, faces potential elimination after Congress closed a loophole in federal law that allowed these products to contain intoxicating levels of THC despite hemp's legal definition.
• Senator Mitch McConnell closed the loophole by limiting THC in hemp products to 0.4 milligrams per container, a threshold that industry advocates say would destroy many businesses, prompting calls for more reasonable regulations instead of an outright ban.
• The industry warns that the ban could lead to massive economic losses, including a $28.3 billion reduction in retail revenues and the loss of 225,000 jobs, while some states have already moved to regulate or ban these products.
• Opponents of the impairing hemp market, including the regulated marijuana industry and public health advocates, argue the ban is necessary to prevent unregulated intoxicating products from reaching consumers, especially minors.
• The debate continues as lawmakers delay the ban's effective date to consider alternative regulations, while some hemp producers explore shifting to non-THC products amid growing uncertainty about the industry's future.