President Trump has signed the 2018 Farm Bill into law, which includes a provision that legalizes hemp.
The 2018 Farm Bill was passed last week by the House of Representatives by a vote of 369 to 47. The vote came just a day after the Senate approved the same bill 87 to 13. Today, President Trump signed the measure into law, making hemp legal for the first time in decades.
The hemp provision, introduced by Senate Majority Leader Mitch McConnel, removes hemp from the federal list of controlled substances. This effectively legalizes it throughout the country, allowing farmers to grow it as they can any other agricultural commodity such as corn and soybeans.
According to congressional research, the hemp market consists of over 25,000 various products ranging from textiles to food products. Despite its cultivation being illegal, the United States imports roughly half a billion dollars in hemp each year from other countries.