Federal Hemp Ban Threatens 225,000 Jobs and $8.9 Billion in Wages
Margaret Jackson
Summary
A federal ban on intoxicating hemp products set to take effect December 11 poses significant economic threats to the cannabis industry. The regulation is expected to reduce retail revenue by $28.3 billion and eliminate approximately 225,000 jobs while costing the industry $8.9 billion in wages. This policy shift impacts both recreational and medical hemp markets, affecting businesses, employees, and consumers who depend on these products for various therapeutic applications. Industry stakeholders are expressing concerns about the economic consequences and potential gaps in access to hemp-derived cannabinoids that patients have been using.
