Hemp derived THC is one of the newer developments in the story of hemp. Years of excess growth of hemp in the early market boom, coupled with the 2018 farm bill removing hemp and hemp derived THC from the controlled substances act allowed entrepreneurs to instead exploit this opportunity and create Delta-8, 9 and 10 THC. Because of the unique status of Hemp and it’s derivatives, these products are currently legal.
“If 2022 was the year of delta-8 THC, then 2023 was the year of hemp-derived delta-9 THC. Despite the popularity and profitability of delta-8 THC products last year (Brightfield Group found that by the end of 2022, U.S. hemp processors had generated over $2 billion in revenue from delta-8 THC products, and accounted for approximately 50% of all cannabinoid hemp-derived products sold), we saw a shift in focus in 2023 to hemp-derived delta-9 THC products, which can now be purchased online and found anywhere including smoke shops, local bodegas, and even aisle endcaps in large chains such as Total Wine & More.
Despite its wide availability, the regulation of hemp-derived delta-9 THC products is essentially non-existent at the federal level, leaving just a patchwork of different approaches taken by states across the country.”
Source:
- https://www.cannabisbusinesstimes.com/news/hemp-derived-delta-9-thc-regulation-patchwork-whats-next/#:~:text=Hemp%2Dderived%20delta%2D9%20THC%20is%20currently%20legally%20available%20in,them%20entirely%20at%20this%20point.
- https://www.forbes.com/sites/roberthoban/2021/06/07/delta-8-thc-a-story-of-american-ingenuity/?sh=3a60f5af34f7
- https://www.forbes.com/sites/roberthoban/2023/11/26/a-brief-and-recent-history-of-hemp–ashes-ashes-all-fall-down/
- https://www.michigan.gov/cra/resources/consumer-connection/delta-8-information