The hemp-derived THC industry in Texas is breathing a $5.5 billion sigh of relief after Gov. Greg Abbott vetoed a bill that would have outlawed hemp-derived THC’s biggest individual market.
Defying state law enforcement officials and Lt. Gov. Dan Patrick, who had campaigned for an intoxicating hemp band, Abbott on Sunday vetoed Senate Bill 3 while also signing into law an expansion of the state’s limited medical marijuana program.
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Abbott said he will convene lawmakers for a session next month to regulate a hemp-derived THC industry with roughly 8,500 retailers in the state who sell an estimated $5.5 billion worth of products.
Texas’ medical marijuana market no longer ‘limited’
Meanwhile, Abbott signed House Bill 46 into law, making Texas the 40th U.S.
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