Lukas Gilkey (Photo courtesy of Lukas Gilkey)
The sale and production of hemp-derived cannabinoids generated $79 billion in economic activity last year, according to industry research, with states collecting $1.5 billion in tax revenue from $28 billion in sales.
The data underscores the huge and growing market for hemp-based, low-THC products – in addition to creating hundreds of thousands of jobs.
This is welcome news for the hemp industry and the U.S. economy.
Millions of adult consumers – including our nation’s veterans – have begun using hemp-based cannabinoids to improve their daily lives.
Some regulated marijuana operators blame hemp-derived cannabinoid products for the slump in retail marijuana sales, citing legal confusion and a lack of regulation related to hemp products.
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It’s time to shed that blame and, instead, work on uniting the hemp and marijuana sectors to focus on mutual benefits.
The marijuana industry’s problem is
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