After the 2018 Farm Bill unintentionally legalized intoxicating hemp-derived cannabinoids, savvy hemp operators created a booming market for those products. That market could come to a halt if Congress closes loopholes for existing hemp-derived cannabinoid businesses in the Farm Bill slated to pass this year. Here's what you need to know about the current and future hemp-derived cannabinoid market: * Many state-licensed marijuana operators deride hempderived cannabinoid products, citing an uneven playing field for regulations and taxes-but a few regulated companies are jumping into that market. * Entrepreneurs also have embraced a legal market for THCA-the cannabinoid that becomes THC when combusted-in states such as Texas and Wisconsin, which don't have regulated markets for high-THC marijuana. The result is a market where highTHC cannabis legally retails under the cover of THCA. * In response to the surge in intoxicating hemp-derived cannabinoids, many states are stringently regulating or outright banning them. * Because of its loose regulations and booming hemp-derived cannabinoid market, Texas is looked upon by many industry stakeholders as a blueprint for potential federal regulation of hempderived cannabinoids. * If Congress curtails the market for hemp-derived cannabinoids when it passes a new Farm Bill, possibly this year, the question becomes who will enforce restrictions and whether they will have more success than states or federal law enforcement have had shutting down illicit marijuana operators. mjbizdaily.com | March-April 2024 29http://www.mjbizdaily.com