The U.S. government has enacted a new law that effectively bans most hemp-derived products, raising concerns within the industry about potential layoffs and significant challenges. This development is particularly troubling for cannabis companies, like Tilray Brands (NASDAQ: TLRY), that have relied on hemp as a means to enter the U.S. market since the 2018 Farm Bill created new opportunities. The recent legislation casts uncertainty over their future operations and growth potential. Industry experts are bracing for the impact of this crackdown on hemp products.
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