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Texas CBD businesses: Financial potential and legal challenges

On Behalf of | Sep 13, 2021 | Firm News |

If you are a Texas entrepreneur with an eye on developing commercial CBD opportunities, you are not alone. With anticipated multi-million dollar potential, this new market is one where countless investors are keeping their eyes on the ever-changing legal landscape.

In September 2021, Texas lawmakers ruled in favor of smokable Hemp by throwing out the 2020 attempt to ban smokable products. While this is good news for the industry, many Texans still have questions. Can CBD businesses expect more legal disputes in the near future?

$400 million sales potential is now possible

Without a doubt, the recent allowance of smokable Hemp opens up more opportunities for current and future CBD business owners. The CBD industry has already seen enormous growth elsewhere in the United States, and Texas has the second largest population in the country, so the potential is huge. Still, some have been worried. Under the new ruling, Texas investors can breathe easier.

Legal challenges remain, but progress continues

While the ruling offers the green light to many entrepreneurs, being mindful of other potential legal challenges can make your new business venture more exciting and less stressful. As the federal and various state governments work out how different laws can and cannot co-exist, one of the best things you can do is stay informed.

Since the 2018 passage of the Farm Bill, the CBD industry has been exploding across the US. Given the Texas District Court’s recent ruling in favor of smokable Hemp, it does not seem likely of slowing down anytime soon.