Deep in the heart of the Lone Star State, a revolution is brewing. Thanks to recent changes in laws and regulations, Texas has found itself at the very center of the burgeoning hemp-derived cannabinoid industry, a move that is poised to bring incredible benefits to the state’s economy and its residents.
A Thriving Market
Over the past few years, the hemp-derived cannabinoid market has seen exponential growth, with an increasing number of studies touting the potential health benefits of cannabinoids like CBD. From alleviating chronic pain and anxiety to offering potential benefits for conditions as diverse as autism, Alzheimer’s, and cancer, the potential applications for cannabinoids have made them a hot ticket item across the globe.
And now, Texas finds itself on the frontlines of this rapidly growing industry. This turn of events offers a promising new revenue stream for the state, as well as the prospect of economic growth through the creation of jobs within the industry.
Texas – A New Hemp Hub
What has set Texas apart in the hemp-derived cannabinoid industry is its implementation of state laws that remain largely favorable to the development and distribution of hemp-derived products. This alignment of legislation, when combined with the state’s established agriculture industry, presents ideal conditions for hemp cultivation and cannabinoid extraction.
Current State Laws and Hemp Cultivation
In 2019, Texas Governor Greg Abbott signed a bill into law that legalized the cultivation and processing of industrial hemp. The law also legalized the sale of for hemp-derived products containing less than 0.3% THC, the psychoactive compound commonly associated with marijuana. As a result, Texans have seen a surge in hemp-derived CBD products on the market, from nutritional supplements to skin creams and even pet products.
The MMJ Advantage
For those in need of medical marijuana, MMJ.com provides a streamlined access to Texas medical marijuana cards. This extends to new patients who qualify for the program as well as renewals, helping them navigate the complex structures of medical marijuana laws.
Future of the Industry
Given the enormous growth potential of the hemp-derived cannabinoid industry in Texas, it is almost certain that we will continue seeing significant development in this sector over the next few years. For many industry stakeholders, the case of Texas may well act as a model for how federal regulations for hemp-derived cannabinoids could unfold in the future.
Final Thoughts
To say that the hemp-derived cannabinoid industry has the potential to significantly boost the Texan economy would be an understatement. A combination of conducive state laws, rich agricultural infrastructure, and an existing market has made Texas the heartbeat of this thriving industry.
The legalization of hemp cultivation and the rising popularity of hemp-derived CBD products are driving this unprecedented growth. As such, the future looks extremely bright for the hemp-derived cannabinoid industry in Texas and the myriad businesses and individuals connected to it.
