As the cannabis industry continues to expand, hemp’s role remains critical yet often overlooked. Ross Gerber, co-founder and CEO of Gerber Kawasaki Wealth and Investment Management and upcoming speaker at the Benzinga Cannabis Capital Conference, recently shared his thoughts on hemp's legal status and its importance within the broader cannabis conversation.

Hemp’s Legal Status: A Missed Opportunity?

Gerber, a vocal advocate for cannabis legalization, expressed frustration over the ongoing legal restrictions surrounding hemp.

"Hemp should be legal, right? I mean, it doesn't make any sense that hemp isn't legal," he stated. This sentiment highlights the confusion and missed opportunities that persist despite the legalization efforts that have taken place in recent years.

Hemp, a non-psychoactive variety of the Cannabis sativa plant, has a long history in American agriculture. It was once a staple crop, used for its fibers, seeds, and oils in various industries.

Gerber reflected on this historical context, saying, "If you go back to America in 1790, like, hemp was legal, we used hemp, like, a useful thing. Cannabis is one of the best plants in the world."

His remarks underscore the plant's versatility and the potential benefits that could be harnessed if the legal framework were more supportive.

The Historical Roots of Hemp Prohibition

Despite its numerous industrial applications, hemp was swept up in the broader prohibition of cannabis in the 20th century. According to Gerber, this decision was influenced by xenophobia and racial prejudice.

"It was based on xenophobia, you know, it's based off fear of immigrants… hemp is their drug, and we must make it illegal," he explained. According to Gerber, this historical context sheds light on the ongoing challenges advocates face working to legalize and integrate hemp into the modern economy.

Hemp's Place in the Industry

Today, hemp is legal under the 2018 Farm Bill, which allows for its cultivation under certain regulations. However, the stigma and regulatory hurdles continue to limit its potential.

Gerber believes recognizing hemp's historical significance and practical benefits is key to advancing its role in the industry.

"Cannabis is one of the best plants in the world," he emphasized, pointing out that hemp's versatility makes it an invaluable resource for various industries, including textiles, construction, and biofuels.

As Gerber prepares to speak at the upcoming Benzinga Cannabis Capital Conference, his views on hemp offer a timely reminder of the work that remains to be done in the cannabis industry. The conference will provide a platform for industry leaders to discuss the evolving landscape and hemp’s role in shaping the future of cannabis.

Photo: Matteo Paganelli on Unsplash