Despite state laws that “legalize” marijuana and hemp, cannabis of all stripes remains illegal under the federal controlled substances act.
Over the last several weeks we’ve been following the progress of Washington state’s nascent hemp industry. The state recently licensed its first growers, and a crop has been planted.
Hemp and marijuana, both cannabis plants with decidedly different properties and followings, are legally joined at the hip. States that have moved to legitimize pot have also moved to allow commercial hemp production.
We’ve never been bullish on hemp.