Texas' Proposed THC Ban: Impact on Consumers and Businesses

The Proposed Texas THC Ban

• ⚠️ A new bill in Texas, if signed by the governor, would ban all THC products, leading to third-degree felony offenses for manufacturing, delivering, or possessing certain consumable hemp products.
• 📉 Critics estimate this legislation could cost the state approximately 50,000 jobs and $5.5 billion in sales revenue.

Understanding Hemp-Derived THC

• 💡 Peter Barsoom, CEO of 1906, clarifies that their products contain Delta 9 THC, the same molecule found in cannabis, but derived from organically sourced hemp.
• ⚖️ He emphasizes that these products are 100% federally legal under the 2018 Farm Bill.

Ramifications for Consumers and Businesses

• 🎯 The ban would eliminate access to THC hemp products for vets, adults, and seniors who use them for relief from anxiety, PTSD, and pain.
• 🚫 Barsoom argues that banning these products is hurting everyday Texans and creating a nanny state.

Economic and Illicit Market Concerns

• 📈 The CEO warns that the bill would put Mexican drug cartels back into business by driving consumers back to the black market, as prohibition does not work.
• 🤝 He advocates for sensible regulations, including age gating (21+), appropriate labeling, and testing, rather than outright prohibition.

Call for Sensible Regulation

• 🗣️ Thousands of Texans and business owners have reached out to the governor, urging him to reconsider the bill.
• ❓ Barsoom questions the motivation behind the legislation, especially since similar products are legal in many other states.