High prices, limited access and now trying to kill hemp? It’s no wonder: Louisiana medical marijuana has been anti-competitive from the start.
Amid a host of false and misleading claims made about Louisiana’s burgeoning consumable hemp industry – that it’s unregulated, that it targets kids, etc. – it’s important to remember that the effort to kill this industry is being driven by a competitor: the Louisiana medical marijuana industry.
Established as only two producers and 10 dispensaries statewide, the Louisiana medical marijuana industry is losing business to a much more competitive marketplace: with 2,500 registered products retailing through over 2,000 permitted retailers state-wide, consumable hemp is more affordable and accessible, including for medical marijuana patients seeking low-dose products. Whereas medical marijuana has no THC limits and can have up to 100 times more THC than consumable hemp, consumable hemp is limited to 8mg of THC per serving. Consumable hemp is also much more accessible to Louisiana entrepreneurs.
If Louisiana medical marijuana succeeds in killing hemp, this becomes a problem for the state, too. That’s because consumers will move to buying it online. Consumable hemp is already a $28 billion industry in the U.S. according to Whitney Economics. Louisiana could collect tens of millions in taxes from consumable hemp sold on the ground in the coming years, but if the industry is killed, it will lose tens of millions in tax revenue to other states instead.
I urge you to oppose Senate Bill 237 which would kill the consumable hemp industry, and support House Bill 952 which would further regulate it. You can use the State Action Center at hempsupporter.com to contact your representatives.
Bennett Christian is a hemp and marijuana entrepreneur who spent many years in Louisiana. He is the founder of a low-dose consumable hemp beverage he hopes to launch in the state.
