Is the High Over for Hemp Drinks?
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The hemp drink industry faces a potential federal ban by November - after exploding into a billion-dollar market via Farm Bill loopholes, the sector is now engaged in a last-ditch lobbying effort to stay on shelves.
“Now, a federal ban is set to wipe the popular alcohol alternatives off shelves by November. WSJ's Laura Cooper and Cann CEO Jake Bullock detail the last-ditch effort to lobby Washington.”
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Drinkables are the primary long-term growth engine for cannabis products - industry experts believe beverages will dominate because they are socially acceptable, health-conscious, and offer a familiar low-dose experience similar to alcohol.
“Drinkables are going to be the biggest growth long-term in cannabis because of health factors, easy access and it's kind of like edibles.”
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Liquor liability exclusions are a major hurdle for mainstream venue adoption - even as demand grows for THC drinks at stadiums and festivals, standard insurance contracts currently exclude on-site impairment coverage.
“The biggest challenge we have is we've identified the insurance contracts, and liquor liability clearly excludes it.”