This legislation has legalised the commercial production of hemp in the United States.
The US Food and Drug Administration says it hopes to make more efficient “pathways” for companies to introduce and market cannabis and cannabis-derived products, including cannabidiol (CBD) into interstate commerce.
The Farm Bill removed hemp from the Controlled Substances Act, allowing for its commercial production in the United States, as long as those plants contain no more than 0.3 percent of THC.
“I think it’s really a game changer,” Joshua Horn, a cannabis industry lawyer, told CNBC.
“The significance is now you have some aspect of the cannabis world legalised on a federal basis.”