The hemp industry has been waiting months for Congress to take action on a new Farm Bill, one that could make legal barriers for hemp production disappear. With the Thanksgiving holiday behind us, Congress has returned to session. Lawmakers in the Nation’s capital are putting more focus on the new Farm Bill, which not only includes the legalization of industrial hemp, but also the funding of several key initiatives such as the Supplemental Nutrition Assistance Program (SNAP), and crop subsidies.
Legalizing Industrial Hemp
If the new Farm Bill is eventually passed, and hemp crop is legalized under federal law, it will allow Cannabidiol, a natural component of industrial cannabis or hemp, to be legally sold in all 50 states. Cannabidiol is more commonly known as CBD, which is the non-psychotropic cannabis extract already in widespread use. Its full legalization would fundamentally alter hemp producers’ access to financial service benefits like federal crop insurance and it would open the floodgates for investment opportunities.
Current and ongoing scientific research shows CBD benefits more than fifty conditions. Cannabidiol is currently being studied in more than 167 clinical trials detailed on ClinicalTrials.gov for ailments including:
CBD Cancer Research
At this time, there are 21 clinical trials for cancer patients alone listed on ClinicalTrials.gov. These clinical trials are investigating the use of CBD in various protocols. These trials include the following types of CBD cancer research:
Barriers to CBD Cancer Research and Prescription Drugs
Currently, the US Drug Enforcement Administration (DEA) currently lists marijuana and its cannabinoids as Schedule I controlled substances, many states have enabled use of marijuana to treat some medical conditions under state laws with certain strict conditions in its production and distribution.
Again, changes to the new Farm Bill of 2018 may remove cannabinoids from the Schedule I controlled substances list. This will lift restrictions allowing hemp to be able to be legally grown, prescribed, possessed and sold under federal law.
Where We Are Right Now
Both the House and Senate have passed versions of the farm bill, but critical differences need to be overcome; however, hemp is not one of them. In fact, the House version doesn’t even mention the plant. While the Senate is scheduled to adjourn on Friday, December 14th, Congress could stay in session longer if necessary year-end business is not completed. If the current Congress can’t agree on a single version before January, the measure has to start from scratch when a new Congress takes over.
Representative Collin Peterson of Minnesota, is set to head the House Agriculture Committee as Chairman in the New Year, he says he wants to “organize his committee quickly in January and bring up the farm bill in short order.” Peterson supports the Senate version of the 2018 Farm Bill, which expands hemp production and removes any requirement that it be grown as part of a state pilot project.
About Diverse Biotech, Inc.
Diverse Biotech Inc. is an innovative, clinical-stage biopharmaceutical research company, committed to discovering and developing novel therapeutics from its proprietary cannabinoid product platform.
For more information on Diverse Biotech or its Cannabinoid (CBD) clinical trials, use in the treatment of specific types of malignancies related to glioblastoma, myeloma, gastrointestinal, and breast cancer, when administered in conjunction with Standard of Care, please contact Diverse Biotech by phone at 407-776-9217 or visit the company’s headquarters at 805 S. Kirkman Rd, Suite 202, Orlando, Florida 32811.