Cato Daily Podcast Best of Cato Daily Podcast: A Realistic, Quick Path to Ending Cannabis Prohibition?
May 14, 2025
Jim Higdon, co-founder of Cornbread Hemp and a passionate advocate for ending cannabis prohibition, discusses a pragmatic approach to legalization. He emphasizes the importance of the 2018 Farm Bill in transforming the cannabis landscape, particularly for CBD products. The conversation dives into strategies for raising the THC cap on hemp, aiming to streamline legalization efforts while addressing safety in the cannabis supply chain. Higdon also highlights the historical divide between hemp and marijuana advocates and how changes in regulations could unify their efforts.
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Farm Bill Redefined Hemp
- The 2018 Farm Bill's redefinition of hemp as cannabis with less than 0.3% THC legalized it federally.
- This allowed the creation of a new market for CBD oils and other low-THC cannabinoids legally produced under USDA oversight.
CBD Industry Regulatory Gaps
- The CBD industry has almost no baseline federal regulations due to FDA delays in acting.
- Cornbread Hemp chose USDA organic certification to guarantee high product standards and safety.
Legalization Via Hemp THC Cap
- Legalizing all cannabis federally could be achieved by eliminating or raising the hemp THC cap in the Farm Bill.
- Changing the hemp definition removes cannabis from DOJ control and places it under USDA as a legal agricultural product.