Thanks to a watershed decision on a smokable hemp ban, Texas’ marijuana industry is about to take an exciting turn. It means that hemp businesses in the state can boost its economy and make Texas the second biggest hemp market in the US.
With a potential of achieving $400 million in annual sales by 2025, there are mouth-watering prospects for hemp business owners in Texas, as the uplifting of the smokable hemp ban helps the consumers and many other potential businesses related to it.
Latest Ruling Throws Out the Hemp Ban
Several hemp companies filed the case from Texas. It challenged the hemp ban imposed in 2019, banning the production of smokable hemp across the state. However, the decision from judge Lora Austin assures the hemp companies that they can continue with hemp production.
Furthermore, the ruling ensures that the rule from the Texas Health Department doesn’t stand any longer.
Hemp Advocates Believe that the Ban Was All About Economic Infringement
Lawyer Matt Zorn presented the case from the hemp companies. He believes that the hemp ban was never about preventing the local businesses and growers from stabilizing their sales and enhancing the state economy.
He termed the ban as an infringement on the state’s economy and that there were no real reasons behind the ban. He added that Texas has always set higher standards, and it shouldn’t advocate such an attitude towards its local businesses.
Court Decision Removes Strange Limitations on Hemp Use
The uplifting of the smokable hemp ban could be seen coming because it presented a strange picture to the general audience. According to Chelsie Spencer, an attorney at the Dallas Fort Worth, the hemp ban law was quite absurd.
Being an attorney, Chelsie had a concrete reason behind her statement. She mentioned that the smokable hemp ban was only limited to production and not to sales and use. As a result, Texans frequently purchased smokable hemp from other states and consumed it in Texas.
It’s nothing short of strange to see consumers freely purchase and consume hemp in Texas, given that the local businesses aren’t allowed its production within the state boundaries. These businesses cannot manufacture, process, or sell retail smokable hemp but watch the locals smoke it out on the streets.
Spencer also added that the entire legal action was financed by Wild Hempettes LLC.
Hemp Ban Uplift Opens Doors of Opportunities for Texas’s Hemp Businesses
Generally, smokable hemp is confused with other similar products. It’s because smokable hemp looks and smells just like other cannabis-derived products. However, it has a much quicker action time. So, many people think of most similar products as smokable hemp, which means that it’s got a fair share in the hemp market.
According to an analysis from NielsenIQ, smokable hemp has excellent prospects. As per the analysis, smokable hemp can reach an astounding $300 to $400 million in annual sales by 2025. It’s interesting because the analytics came around last year when the ban was still on.
With the hemp ban lifted, the chances of achieving these numbers have improved drastically.
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Texan Smokable Hemp Ban Lifting Could Be the Start of Something Huge
When Texas does something, the whole country watches. Especially when such a critical decision comes out, the other states will take notice and learn valuable lessons from it. Therefore, hemp advocates are optimistic that the decision may inspire other states to work on their smokable hemp ban.
Zachary Maxwell, the president of Texas Hemp Growers, believes that the decision is a win for the Texas hemp industry. He added that the decision could set new standards for other similar cases in the country, ultimately benefiting the hemp industry on the national level.
For instance, Indiana-based hemp businesses still await the legal challenge on the smokable ban in the state that was imposed in 2019.
Maxwell didn’t shy away from mentioning the financial setbacks caused by the hemp ban.
Lifting of Ban Means More Hemp Businesses in Texas
According to the 2021 Hemp & CBD Industry Factbook, there were 71 licensed hemp processors and 1,103 hemp growers across all of Texas. Now, with the ban lifted and a noticeable influx of buyers, these numbers are set to rise considerably over the next couple of years.
With the smokable hemp ban lifted, it creates a chain of opportunities for the local hemp growers, processors, and distributors in Texas. As the locals will no longer need to cross the borders for hemp, there are likely to be considerable opportunities for the currently licensed growers.
Moreover, it paves for aspiring hemp growers and distributors who were previously skeptical about setting foot in the hemp business because of legality problems.
As the smokable hemp ban lifts in Texas, it is likely to inspire many other states to face similar challenges.