Congressional report offers overview of CBD/hemp market, policy challenges
The Congressional Research Service (CRS) released a report which says there are “three leading markets for hemp, each based on the part of the plant used: fiber, seed/grain, and flower.” However, CRS notes some observers suggest “a separate, marketable category exists for the plant’s extracted compounds” such as CBD oil. CRS described the wide range of uses for hemp, including “fabrics and textiles, yarns and spun fibers, paper, carpeting, home furnishings, construction and insulation materials, and biocomposites.” The category that’s generated the most interest is cannabinoid-infused dietary supplements and food items – primarily CBD products marketed for a variety of health purposes. The FDA has jurisdiction over the area and hasn’t developed rules allowing for CBD products in the food supply. The report doesn’t weigh in on delta-8-THC, which can be derived from legal hemp but isn’t regulated under federal statute.