{"id":633,"date":"2019-07-02T11:13:37","date_gmt":"2019-07-02T15:13:37","guid":{"rendered":"http:\/\/blogs.duanemorris.com\/cannabis\/?p=633"},"modified":"2019-07-02T11:13:37","modified_gmt":"2019-07-02T15:13:37","slug":"floridas-budding-cannabis-industry-expands-with-new-hemp-law","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/cannabis\/2019\/07\/02\/floridas-budding-cannabis-industry-expands-with-new-hemp-law\/","title":{"rendered":"Florida\u2019s Budding Cannabis Industry Expands With New Hemp Law"},"content":{"rendered":"<p>According to a research report published by\u00a0<a href=\"https:\/\/www.cowen.com\/reports\/cowen-collective-view-of-cbd\/\" target=\"_blank\" rel=\"noopener noreferrer\">Cowen &amp; Co.<\/a>\u00a0earlier this year, the investment bank believes that the U.S. market for cannabidiol (CBD) consumer goods could reach $16 billion\u2014a \u201cconservative\u201d forecast\u2014by 2025, up from between $600 million and $2 billion in 2018 retail sales. As the third-most populous state in the country, this is a very big deal for Florida.<\/p>\n<p>Florida\u2019s state hemp program law, Section 581.217, Fla. Stat., created by the enactment of Senate Bill 1020, has the potential to transform Florida\u2019s agricultural landscape while also capitalizing on a fertile market of enthusiastic cultivators and eager consumers.<\/p>\n<p>With a population of more than 21 million, Florida has long been viewed as ripe for potential commercialization by the cannabis industry. Gov. Ron DeSantis made headlines in March when he signed legislation that effectively repealed the ban on smoking and \u201cvaping\u201d medical cannabis. Yet outside of Florida\u2019s medical marijuana program (and the hemp pilot project discussed below), cannabis\u2014which includes hemp and hemp-derived products\u2014has remained a controlled substance, making the manufacture, processing, sale and possession of hemp or hemp-derived products (including cannabidiol, i.e., CBD-infused items) a criminal endeavor. Even within the state\u2019s medical use program, the cultivation of cannabis, even for medicinal purposes, remains tightly regulated.<\/p>\n<p>To read the full text of this article by Justin M. L. Stern, Robert A. Zinn, Jay Steinman and Jennifer A. Migliori, please <a href=\"https:\/\/www.duanemorris.com\/articles\/florida_budding_cannabis_industry_expands_new_hemp_law_0719.html\" target=\"_blank\" rel=\"noopener noreferrer\">visit the Duane Morris website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a research report published by\u00a0Cowen &amp; Co.\u00a0earlier this year, the investment bank believes that the U.S. market for cannabidiol (CBD) consumer goods could reach $16 billion\u2014a \u201cconservative\u201d forecast\u2014by 2025, up from between $600 million and $2 billion in 2018 retail sales. As the third-most populous state in the country, this is a very &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/cannabis\/2019\/07\/02\/floridas-budding-cannabis-industry-expands-with-new-hemp-law\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Florida\u2019s Budding Cannabis Industry Expands With New Hemp Law&#8221;<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[147,441,485,517,172,515,516,483,514],"ppma_author":[714],"class_list":["post-633","post","type-post","status-publish","format-standard","hentry","category-general","tag-cannabidiol","tag-cannabis-business","tag-florida","tag-florida-hemp-law","tag-hemp","tag-jay-steinman","tag-jennifer-migliori","tag-justin-stern","tag-robert-zinn"],"authors":[{"term_id":714,"user_id":6,"is_guest":0,"slug":"duanemorris3","display_name":"Duane Morris","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/843ff6e7a8fe5fc92109b47a45f34b6cf0ea499e6e788db23456c838b0ae6747?s=96&d=blank&r=g","author_category":"1","last_name":"Sullivan","first_name":"Margaret","job_title":"","user_url":"http:\/\/www.duanemorris.com","description":"<a href=\"http:\/\/www.duanemorris.com\">Visit the Duane Morris website.<\/a>"}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/cannabis\/wp-json\/wp\/v2\/posts\/633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/cannabis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/cannabis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/cannabis\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/cannabis\/wp-json\/wp\/v2\/comments?post=633"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/cannabis\/wp-json\/wp\/v2\/posts\/633\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/cannabis\/wp-json\/wp\/v2\/media?parent=633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/cannabis\/wp-json\/wp\/v2\/categories?post=633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/cannabis\/wp-json\/wp\/v2\/tags?post=633"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/cannabis\/wp-json\/wp\/v2\/ppma_author?post=633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}