DeSantis Veto Shields Florida Hemp Industry Growth
Governor's decision sparks debate on future cannabis policies.
The Florida hemp industry has been growing over the last several years, with the 2018 Farm Bill, which re-legalized hemp. Since that federal bill’s passage, Florida businesses have been growing, cultivating, processing, and establishing retail operations of hemp. Hemp is being used for everything from clothing, bio-composites, wellness products like CBD oil, and edibles. This growth has been specifically important for small businesses and health-conscious Florida consumers.
Enter Florida Senate Bill 1698 which was introduced to impose stricter regulations on hemp products, particularly those containing Delta-8 THC, a compound similar to Delta-9 THC found in marijuana but currently less regulated. Yet, Governor Ron DeSantis surprised many when he vetoed the bill yesterday, June 7, 2024. DeSantis couldn’t ignore the huge backlash he heard from around the state as the Florida hemp market is still in its infancy, and looks to blossom into a major agricultural powerhouse over the coming years.
DeSantis’ decision underscores a growing recognition of the economic and social benefits associated with cannabis and its derivatives, potentially paving the way for more freedom-based marijuana policies. As public opinion continues to shift in favor of legalization, political strategies are likely to adapt, with lawmakers considering the economic incentives of a regulated cannabis market. Marijuana freedom is on the ballot this November to decide on Amendment 3. How far we’ve come from 2014 when then-Governor Rick Scott made things more difficult for the medical marijuana industry.
DeSantis' decision on SB 1698 was a reflection of his responsiveness to constituent concerns and his commitment to maintaining Florida's reputation as a business-friendly state. This move not only safeguards the hemp industry but also sets a precedent for future legislative decisions, highlighting the significant role of Floridian activism for freedom and economic freedom thriving in our state’s public policy.
Many Floridians were surprised due to DeSantis’ recent signing of various other bills this year which have been anti-freedom, such as the “lab-grown meat ban.” It is hard to square banning the lab-grown meat business also is in its infancy, and the market is expected to grow substantially over the coming years. So his decision to ban lab-grown meat, while vetoing hemp sales seems to me to be at odds with the principles of DeSantis’ free market rhetoric. Meanwhile, DeSantis’ actions on lab-grown meat will likely stifle innovation and limit Floridian’s choices in the market.