A marijuana network is suing the Drug Enforcement Administration (DEA) for the benefit or marijuana companies across the United States. If the legal battle ends in favor of the plaintiff, it will loosen federal restrictions on a market that one of Player’s Network, Inc.’s holdings is angling in on. Player’s Network (PNTV) owns a large majority of Green Leaf Farms Holdings, LLC (Green Leaf Farms), which is licensed to grow, manufacture, and sell marijuana and cannabis products in Nevada.
Cannabis Business Times recently reported on the legal motion filed against the DEA by the Hemp Industries Association (HIA). The HIA represents hundreds of hemp businesses and is suing the DEA for violating a federal court order that hemp food products are not a Schedule I controlled substance. A victory in court for the HIA would greatly benefit Green Leaf Farms, which will be selling edible products as soon as their doors open to customers.
“We will not stand idly by while the DEA flouts the will of Congress, violates the Ninth Circuit order, and harasses honest hemp producers trying to make a living with this in-demand crop,” said Colleen Keahey, Executive Director of the Hemp Industries Association. “Hemp is a healthy superfood with vital nutrients such as Omegas 3 and 6, protein, fiber and all 10 essential amino acids that are ideal for today’s family. The DEA must stop treating hemp, hempseed and hempseed oil, which is a nutritious ingredient, as something illicit. We have to address the challenges that thwart the domestic industry’s progress and especially those that mislead state Departments of Agriculture and limit entry of legal hemp products into the marketplace.”
In 2016, the DEA denied multiple petitions to reclassify marijuana from a Schedule 1 drug to a Schedule 2. In denying the petitions, the DEA requested another scientific and medical evaluation by the Department of Health and Human Services. HHS has previously concluded that “marijuana has a high potential for abuse, has no accepted medical use in the United States, and lacks an acceptable level of safety for use even under medical supervision.” Millions of medical and recreational marijuana users would disagree.
Despite the DEA not budging on marijuana scheduling, states have taken leaps and bounds in legalizing marijuana and enabling its use by adults. Fortune reports that at least twenty-five states have taken action to at least decriminalize medical cannabis. Alaska, Washington, Oregon, Colorado, California, Maine, Massachusetts, the District of Columbia, and Nevada have passed laws decriminalizing recreational marijuana.
If the HIA is successful in its campaign against the DEA regarding hemp food products, it will greatly benefit Green Leaf Farms by opening the way for moving edible products away from Schedule 1. Apart from traditional marijuana, Green Leaf Farms will offer a whole line of edible products. These edible products are made with the master grower’s unique blend of cannabidiol (CBD) oil, made with a 1.5 to 1 THC-to-CBD ratio. Some edible products are made with a 1.5 ratio with more THC for recreational consumers seeking the psychoactive effects, while others are made with higher CBD than THC for those seeking the relaxing and medicinal effects.
An HIA victory against the DEA’s scheduling of hemp food products could enable Green Leaf Farms to expand the customer base for its edible products and generate more profits.