New leadership at the U.S. Department of Agriculture under the Biden administration will result in the agency “taking another look at looming rules for a nationwide hemp regulatory network,” said Chris Walsh, CEO and president of Hemp Industry Daily and Marijuana Business Daily.
Walsh made his annual cannabis business predictions in a virtual presentation Friday at MJBizCon 2020.
“We’re hoping that the USDA gives the hemp industry a big win with remediation of ‘hot hemp,” he said.
But it’s less likely that the hemp industry will see much movement toward regulating CBD in the coming year, Walsh predicted.
He said the U.S. Food and Drug Administration will probably be “all hands on deck” working on COVID-19 vaccine distribution and therefore unlikely to make any major moves on hemp and CBD regulation in 2021.
In other predictions, Walsh said the coming year will bring the cannabis industry new state legalization initiatives and a resurgence of investment but is unlikely to result in meaningful federal MJ policy reform.
What do you think will happen in the hemp and CBD industry in the new year? Send your hemp predictions for 2021 to [email protected].