- 2018 farm bill approved by Congressional vote earlier this week
- Bill removes industrial hemp from Schedule I under Controlled Substances Act
- Hemp market expected to hit $1 billion in 2018
With floor votes passing this week in the House of Representatives and the Senate, the chances that the Farm Bill – H.R.2, the Agriculture Improvement Act of 2018 – will be law before Yuletide have improved considerably. Such a development augurs well for Sugarmade, Inc. (OTCQB: SGMD), a company focused on supplying equipment and technologies to support the legal cultivation, processing and storage of cannabis and other agricultural products, which recently made a substantial investment in the hemp space. The 2018 Farm Bill includes provisions to unshackle hemp from restrictions imposed by the Control Substances Act of 1970 and the Marihuana Tax Act of 1937.
Things are looking up for the hemp industry. On Monday, December 10, Senate Majority Leader Mitch McConnell (R-KY) tweeted…
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