President Trump is expected to sign the Farm Bill into law.
On Wednesday, Dec. 12, Congress passed the U.S. Farm Bill, which legalized hemp, a species of cannabis from which CBD can be extracted but that is not psychoactive, meaning it cannot get users high.
According to a report by Vox, the bill was introduced by Mitch McConnell (R-KY), and Senators Rand Paul (R-KY), Jeff Merkley (D-OR) and Ron Wyden (D-OR) earlier this year. The Farm Bill overall was an $867 billion-dollar bill that dealt with other issues including agriculture subsidies and the Supplemental Nutrition Assistance Program (SNAP). President Donald Trump is expected to sign the legislation into law. The Farm Bill is set roughly every five years to outline farm and food policy.
The move is good news for those selling CBD products, which have been popping up in increasing numbers. CBD is often credited with managing anxiety, stress, pain and other ailments and it is now found in a range of products from energy drinks to gummy bears.
Forbes predicted the legalization will have huge effects on the CBD industry, create new opportunities for farming and likely grow into a multibillion-dollar industry.