In Texas, veterans are working to protect the state’s hemp market while lawmakers seek to limit access to delta-8 and other edibles hemp products.
Delta-8 THC, a chemical component of the cannabis plant, occurs naturally in very small concentrations. It can produce a mild psychoactive effect in some people similar to delta-9 THC.
Republican Senator Charles Perry seeks to introduce Senate Bill 264 in the next House session, which would ban THC of synthetic origin and effectively end the state's market for edible delta-8 hemp, reported The Texas Tribune.
"Texas is home to an estimated 1.5 million veterans. Those with illnesses who are seeking alternatives to traditional medicine should work to update the state’s medical marijuana program," Perry said. The Compassionate Use Program is a 2015 measure that allows residents to consume so-called low-THC products that contain .3% or .5% THC with a physician's recommendation.
On their part, veterans are asking for access to these hemp products to treat issues such as chronic pain, traumatic brain injuries, and post-traumatic stress disorder (PTSD).
Additionally, 82% of Texans support cannabis legalization for medical purposes, according to a recent poll published by the Hobby School of Public Affairs at the University of Houston.
Background: Texas legalized hemp production following the passage of the 2018 Farm Bill in the U.S. Congress. On June 10, 2019, Texas Governor Greg Abbott signed into law House Bill 1325 making industrial hemp legal in the state.
Interest in delta-8 THC products is on the rise, according to a report by marijuana analytics company Brightfield Group. Demand for these hemp-derived products has skyrocketed over the past two years with sales exceeding fully $2 billion.
The Benzinga Cannabis Capital Conference Is Back!
The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A start, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.
Photo: Courtesy Of Felipe Vieira On Unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Click on the image for more info.
Cannabis rescheduling seems to be right around the corner
Want to understand what this means for the future of the industry?
Hear directly for top executives, investors and policymakers at the Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9.
Get your tickets now before prices surge by following this link.