Adam Terry, CEO of hemp beverage company Cantrip, joins the Trade To Black podcast for September 25, 2024. During the interview, hosts Shadd Dales and Anthony Varrell unpack latest developments involving the hemp industry, including a new bill that was introduced by Democratic Senator Ron Wyden. We also look at the latest headlines this week, market dynamics in the states of New Jersey and Louisiana, and how the hurricane may affect MSO operations in the panhandle.
At the time of this podcast, Helene has been upgraded to a Category 1 hurricane and is expected to make landfall along Florida’s Big Bend on Thursday, with life-threatening surges of up to 15 feet. 32 million people are under flood watches, and the surge could present problems for some of Florida’s MSO operators. We’ll discuss how prepared they are for power interruptions.
In some states like New Jersey and Louisiana, businesses are struggling with regulations that hamper the infused beverage industry. New Jersey hemp businesses are suing the state to overturn a law that effectively bans the sale of hemp beverages that contain THC. We discuss the lawsuit’s grounds for challenge on a violation of federal pre-emption and the manufacturing requirements.
Having a federal regulatory framework for hemp cannabinoids, including CBD, would be a game-changer due to current state-by-state regulations. Senator Ron Wyden’s proposed bill could provide standardization across states, helping businesses navigate the fragmented legal landscape.
The framework is designed to allow states to set their own rules for products such as CBD, while also empowering the Food and Drug Administration (FDA) to ensure that certain safety standards are met in the marketplace. The legislation titled the Cannabinoid Safety and Regulation Act will also look to address public health concerns related to unregulated intoxicating cannabinoid products since hemp and its derivatives were federally legalized under the 2018 Farm Bill.
Join us as we delve into all the hemp headlines with Adam Terry.