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In mid-2018, U.S. Senate majority leader Mitch McConnell proposed legislation that would remove hemp — the less-exciting, non-psychoactive cousin of the cannabis plant — from the Controlled Substances Act, effectively making it federally legal in the United States.

For those following the rapidly growing cannabis industries on both sides of the border, the ramifications could be massive.

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While hemp has industrial uses, it is also a source of cannabidiol — known more commonly by its acronym CBD — a non-psychoactive component it shares with cannabis that is touted by many as having therapeutic properties.

Legal hemp would mean a legal and more cost-effective source of CBD, and one that could be transported without restriction and sold on a national level — something that could unleash a multi-billion dollar CBD industry almost overnight.