Hemp vs. Marijuana: Meet The Innovator Capitalizing On A $28 Billion Legal Loophole

Hemp vs. Marijuana: Meet The Innovator Capitalizing On A $28 Billion Legal Loophole | Forbes

Рет қаралды 63,609

Күн бұрын

In a building formerly owned by the pharmaceutical company Roche, in an industrial neighborhood of Indianapolis, Indiana, a state where marijuana is still illegal, a former high school quarterback with a college degree in biochemistry is surveying his warehouse filled with millions of dollars’ worth of gummies and vaporizers. The products are packed with delta-9-tetrahydrocanninol (THC), the psychoactive compound in weed known for getting people stoned.
And while local police have raided vape shops selling these cannabis products, Justin Journay, the CEO and founder of 3Chi, insists that he is operating within the letter of federal law-despite the fact that the state’s Attorney General, Todd Rokita, believes companies like his are committing a felony.
That’s because 3Chi’s products are made from marijuana’s cannabis cousin, hemp. In 2018, the federal government legalized hemp and all its derivatives, isomers and extracts through the Agricultural Improvement Act, or what’s known as the Farm Bill. And since hemp and marijuana are different varietals of the same plant-cannabis sativa L.-they contain the same compounds and hemp can be used to make products of similar potencies, or even stronger, than those found in state-regulated marijuana dispensaries around the country.
Despite what the Farm Bill states, there is still plenty of debate about whether hemp-derived THC products are legal at the federal level. That’s because several things are true all at once: hemp-derived cannabinoids, including delta-9 THC, delta-8 THC (a less potent compound that is affectionately called “weed lite” or “decaf kush”) and others, are legal under the Farm Bill if those compounds are found naturally in the plant, meaning if a company takes a heap of hemp and extracts THC, that oil is legal if it contains 0.3% THC or less. In an opinion from the 9th Circuit Court of Appeals in 2022, judges ruled that cannabinoids derived from hemp are legal under the Farm Bill, even if the substances have psychoactive properties.
Read the full story:
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0:00 Introduction
0:48 The Legalization Of Hemp And Marijuana In The US
3:28 Justin Shares His Cannabis Offerings At 3Chi
8:29 The Farm Bill And What That Means For The Cannabis/Hemp Industry
12:52 How Does State vs. Federal Legalization Work?
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Пікірлер: 138

@hammyhamhamster5993 29 күн бұрын

Cannabis should be absolutely just as legal and easy to obtain anywhere as alcohol currently is. In every single state. No exceptions. It's so easy: As legal and easy to obtain/use as alcohol currently is. Why hold relatively benign, often healing cannabis to any sort of irrational, stricter double standard than perfectly legal alcohol?

@xungaming469 19 күн бұрын

Alcohol isn't legal everywhere

@motorizedlifting2534 15 күн бұрын

@@xungaming469 Go to the next county over and it will be.

@MilleyD17 14 күн бұрын

Should be like coffee

@stormageddon248 13 күн бұрын

@@MilleyD17not exactly like coffee come on. It’s definitely not as bad as alcohol

@MilleyD17 12 күн бұрын

@@stormageddon248 weed should be like cigarettes

@lexomoney 10 күн бұрын

It's funny how 3Chi is based in Indiana, as Indiana will be one of the last states to legalize 🤣

@aliasrehbar9693 22 күн бұрын

I can't believe we're having this conversation in 2024 😭😭😭 It's been used before United States of America even existed. Recreational, medicinal the decision should be placed on people's hand 🙏🙏🙏

@gfbmusic 13 күн бұрын

Government rules you and corporations own you.

@cherylrleigh1912 Ай бұрын

Hemp in the United States is a legal crop. It was legal in the 18th and 19th centuries, then production was effectively banned in the mid-20th century, and it returned as a legal crop in the 21st century. By 2019, the United States had become the world's third largest producer of hemp, behind China and Canada. Source Wikipedia

@shy404usernotfound 22 күн бұрын

We've been growing in Humboldt County Cali for literally several decades.

@vsznry 11 сағат бұрын

@@shy404usernotfound hemp? or cannabis? if you mean hemp what were you growing it for? were you federally licensed for those decades?

@joedirt5720 9 күн бұрын

I freaking LOVE 3Chi products! Its literally all i use...

@astrocomet7370 17 күн бұрын

Corporations ruind it ,low quality

@bigwill6089 15 күн бұрын

Yes weed is garbage for the last 2 years

@legorockstar2000 10 сағат бұрын

@@bigwill6089 we all knew it would LOL. Soon as corporate gets their hands on anything it's all about profits not the patients or quality

@ehaaron 14 күн бұрын

bring back prohibition or legalize marijuana....why is wine/beer legal but marijuana treated like heroin? make that make sense...

@georgeskinarakais9910 14 күн бұрын

Too many games being played with weed in this country

@Kamikaze19191 16 күн бұрын

Alcohol has irreversible conditions if abused, and yet easily available most Marijuana will just relax you and may even benefit you (government) "yea let's make it illegal"

@Micahslooseearlobe Күн бұрын

CHS is not a joke either, alcohol is a million times worse I agree but cannabis as a whole has its downsides as well granted nowhere near as harsh but it should be known

@johnsmartin1473 28 күн бұрын

The plant that allowed both the Spanish Armada and the Royal Navy colonize the new world. Ships once had sails, and sails were made of hemp. Hemp: hemp was pre industrial age petroleum .

@Geo.StoryMaps 21 күн бұрын

Key word was

@MeanLaQueefa 15 күн бұрын

They still use Hemp rope in the US Navy, during WW2 they encouraged people to grow hemp for the war effort

@smoketj4830 5 күн бұрын

@@MeanLaQueefa hemp sowing string is so effing strong, impossible to break with the hands

@guybrushthreepwood8174 11 күн бұрын

White Lightning, Pulse

@tonysolar284 29 күн бұрын

Once the 2018 Farm Bill changes, it may kill or almost kill his business.

@Reeces_Pieces 24 күн бұрын

I feel like the backlash to that would be astronomical. It's been this way for years now and everyone sees how benign it is.

@anotherperspective6247 21 күн бұрын

Not even just that. Overnight he would be sitting on an enormous amount of state and federally illegal product. This man is courageous beyond belief gambling his future for the betterment of society.

@nonstoprollie2810 18 күн бұрын

The 2018 farm bill won't be changed in the sense of losing hemp. They can't do anything about this. It's legal cannabis without calling it cannabis. It was very intentional how the 2018 farm bill was created. This whole "ban" scare tactic is a game only the opposing side of the market is playing and believe me they are losing hard. Hemp isn't going anywhere it's the new cash crop and it's here to stay

@nonstoprollie2810 18 күн бұрын

Farm bill isn't changing. Hemp is here to stay. This "loophole" argument is set up by the opposing side because they are losing against hemp and are big cry babies

@michaelmclain7049 9 күн бұрын

@@anotherperspective6247for the betterment of society? This man is wanting to get rich lol that’s it. Don’t be naive

@roygbiv1938 5 күн бұрын

This guy is a great salesman.

@chris420blazeit 5 күн бұрын

Hemp 🙌

@bombadil776 Ай бұрын

It'd be interesting to cover how to small home-grow tent market is changing

@matiasmazzo2938 24 күн бұрын

Growers will be growers.

@Skunkhunt_42 5 күн бұрын

Hows it changing?

@SPARTANRTJ1 2 күн бұрын

I have gotten product from 3chi very good company

@OrbitalVibes 20 күн бұрын

It's possible to do the same with delta-9 thc as with CBD to create better, purer & safer product and effect.

@TheIncomparableGolfer 27 күн бұрын

Now the landlords have a reason to raise monthly rents.. Get ready for rent inflation

@user-lv6rn9cf8m 15 күн бұрын

Uhm you guys have no idea what you 're talking about. Cannabis and hemp are the same thing. Hemp is just the English word for cannabis. Cannabis is Latin. Marijuana is American slang for weed - hemp/cannabis that gets you high.

@Gibrilville 24 күн бұрын

wow! this is absolutely amaizng. watch til the end!

@ChrisdoperMichigan 6 күн бұрын

Michigan loves that little no flower rule in Indiana. lmaoooo

@kinglauj1183 14 күн бұрын

Legalize Cannabis

@rdr61 13 күн бұрын

There shouldn't be any loopholes in the law regarding a plant !!!

@HighHrothgar0 5 күн бұрын

I prefer the more open hemp market especially THCa and typically prefer ordering online. 3chi was one of the first brands I tried and it worked great! I think hemp, CBD, D8, THCa and other hemp derived cannabinoids are affordable and sustainable to produce.

@Swampkiller1Tv 17 күн бұрын

One definition can change it jst like in 2018

@JohnSmith-t7g 16 күн бұрын

I prefer marijuana. It is just illegal here. Plus... my parents will kick me out if they knew I was vaping THC delta 8

@calral7774 14 күн бұрын

Getting busted in indy with weed is like having crack or meth on you! Your going to jail! Very strick state

@Professionalminutestealer 13 күн бұрын

Ya it's crazy 3chi is one of the bigger alt noid business and are in Indiana.

@Professionalminutestealer 13 күн бұрын

I tried bringing cbd flower into shops around here and they looked at me like I was crazy but here we are with mushy d8 d9 d10 thca thcp thco.

@rop7101 10 күн бұрын

Like Texas . I weed cookie will get you 20- life in prison

@Professionalminutestealer 9 күн бұрын

@@rop7101 was just on reddit reading about a guy that is looking at 5 years for d8 possession

@j7cc 16 күн бұрын

Marijuana, 100%. Legalize ! 🇺🇸✨️💕☘️✌️

@DT__1 Ай бұрын

Why he just doesn’t open a start plantation for flower in a state where he can make legally flowers

@yvng_cmoney4599 29 күн бұрын

Higher taxes on weed plus stricter regulations

@DT__1 29 күн бұрын

@@yvng_cmoney4599 if there won’t a begging there won’t be a run 🙂 all this is a matter of time. And first ones always wins

@DesmondCleaver 28 күн бұрын

Thc regulation is through non fda. This is fda. Meaning sales online worldwide. Opens your market x1000

@matiasmazzo2938 24 күн бұрын

He is a chemist. Not a botanist/farmer.

@DT__1 24 күн бұрын

@@matiasmazzo2938 it doesn’t matter HE WANTS FLOWER. Being a chemist doesn’t mean he can’t do botany. 🙂

@Swampkiller1Tv 17 күн бұрын

There already trying to change it

@dannydyer2336 13 күн бұрын

Thcp!!

@charleswanjala Ай бұрын

Nice video

@Bloodshotty 17 күн бұрын

So weird that Mitch McConnell legalized hemp.

@bradredford4846 Күн бұрын

Stupid taxes

@Leo_Cameron 20 күн бұрын

hemp is great we need thca in uk

@98Vols 11 күн бұрын

What a joke this all is. LEGALIZE IT

@ThePanda6996 15 күн бұрын

The cannabis economy is turning because rich people are realizing they can become more rich if they just hop into the market. Meanwhile, ma and pop shops are being pushed out by big cannabis companies.

@calder6623 22 күн бұрын

Stop using the bad pesticides 🙏🏾

@SAsh-zg6ln 16 күн бұрын

I think the LA times article highlighted what most people already knew. I’ve been smoking for 15 years and I’m not shocked about the pesticides. I will say, that those results showed TRACE amounts of pesticides. Not saying trace amount is good but I’d like the LA times to go check for pesticides at stuff we eat and drink everyday. I will say the LA times article shook up the industry and that’s a good thing because hopefully companies will either shut down or start investing a lot more on testing. I think every dispensary should be growing their own weed and that facility should be checked randomly by the state. Similar to the health department randomly checking restaurants

@zacharycribb6074 15 күн бұрын

I disagree with him saying “any is saying what we can offer is less than marijuana doesn’t know what there talking about.” Man, thca/delta8/cbd is nice, and a great thing to have- but it is NOT marijuana/delta 9. Sometimes you need that punch, that actual high- delta 8 is not the be all end all, it’s nice for people with low tolerance or getting into it, but it’s subpar to delta 9 and after you’ve been using for a while, you realize this. Crazy profits though, good for you man

@TrentBufano 10 күн бұрын

You have to get premium quality THCA 👍 same same

@TrapLordBreadWinner 25 күн бұрын

Its videos like this that bring entirely too much attention to the matter. Kiss the loophole goodbye come 2025

@Jbueno86 22 күн бұрын

😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊😊

@youtubejunkie8053 15 күн бұрын

You can’t turn CBD into Delta 9 THC. It’s about THCa which is the precursor to THC

@DeL33Tee 15 күн бұрын

There's plenty of processes for turning CBD into d9 THC but you're right, this is about every other cannabinoid, like THCa and d8 THC, not d9.

@sokunhourn5271 Ай бұрын

Can I help you?

@smoakpipe 23 күн бұрын

420th like

@jamewilliams7660 Ай бұрын

Outstanding information,with world crisis,rising inflation and economic instability due to poor governance, consider digital assets as a means to attain financial freedom.

@hammyhamhamster5993 29 күн бұрын

The "War on Cannabis" has been a complete and utter failure. It is the largest component of the broader yet equally unsuccessful "War on Drugs" that has cost our country over a trillion dollars. Instead of The United States wasting Billions upon Billions more of our yearly tax dollars fighting a never ending "War on Cannabis", lets generate Billions of dollars, and improve the deficit instead. Especially now, due to Covid-19. It's a no brainer. The Prohibition of Cannabis has also ruined the lives of many of our loved ones. In numbers greater than any other nation, our loved ones are being sent to jail and are being given permanent criminal records. Especially, if they happen to be of the "wrong" skin color or they happen to be from the "wrong" neighborhood. Which ruin their chances of employment for the rest of their lives, and for what reason? Cannabis is much safer to consume than alcohol. Yet do we lock people up for choosing to drink? Let's end this hypocrisy now! The government should never attempt to legislate morality by creating victim-less cannabis "crimes" because it simply does not work and costs the taxpayers a fortune. Cannabis Legalization Nationwide is an inevitable reality that's approaching much sooner than prohibitionists think and there is nothing they can do to stop it! Legalize Nationwide Federally Now! Support Each and Every Cannabis Legalization Initiative!

@joshuabaker6074 20 күн бұрын

Changed his tune real quick,once he seen $$$$

@Hudsonrulez 9 күн бұрын

As soon as real cannabis is federally legal either this guy will go out of business or he will be like"hemp whaaaa"

@briankenison7995 8 күн бұрын

I can't believe he said allows people to get things done.

@XxXenosxX Ай бұрын

Stop chasing thc, mixing is the way

@DT__1 Ай бұрын

No it’s not 😊

@tonysolar284 29 күн бұрын

Stop chasing the PPFD, Yeast THC/CBD is the way.

@TKAM88 15 күн бұрын

Delta 8 is lame. No taxes!! Just free the plant and us. We are tired of the tyranny.

@tarikmustafa5740 25 күн бұрын

Benefits dont come from.delta 9 mate people do not want phara drugs delta 9 is a pharma drug

@johnsonator69 23 күн бұрын

Delta 9 is not a pharma drug. Delta 9 is THC. There's no difference between "marijuana" and "hemp" the only difference is the amount/level of THC in the plant. The only difference is the government is saying there's a difference. There isn't. I'm a Bud tender.

@tarikmustafa5740 23 күн бұрын

@johnsonator69 no way mate delta 9 is as bad as the person in the weed

@tarikmustafa5740 23 күн бұрын

Pgrs in the weed

@DreamAgainNetwork Ай бұрын

🫡💎📈

@johnsonator69 23 күн бұрын

Is forbs invested in this company or something? Cause theres definitely some less than factual statements. Like how cannabis dispensarys dont have anything other than delta 9. Most of the edible brands i sell at my dispensary have cbd, cbg, cbn, thc-v. Those just recently started being studied. There hasnt been any demand for them till now. Why would companies be responsible for not selling those 20-30 years ago when no one new they existed? Hemp and marijuana as yall call it are the same thing. It's all cannabis. The only difference is that each cultivar (each strain) has different levels of different cannabinoids. Also, delta 8 doesnt naturally accure in high enough levels for extraction, they use hydrochloric acid to convert delta 9 to delta 8 which makes it synthetic. No one should be consuming synthetic cannabinoids. Also we dont know the long term safety of delta 8 synthetics. We do know that normal cannabis is safe. And we have 3000 years of experience to tell us that.

@aig9672 20 күн бұрын

Also, from what I understand, the legal distinction between hemp and marijuana is the level of THC present yet he is claiming that thc derived from hemp is legal. How is that not legally marijuana? Are they really extracting and concentrating THC from plants that have less than .3% THC?

@user-sk6dh1kf2x 17 күн бұрын

Ahhh, the ever elusive THC-p! Highly rare in the world of cannabis! But you guys use solvents to make these cannabinoids which is very unhealthy for the consumer! Just grow real bud and extract it using ice, heat and pressure! 🤓

@user-sk6dh1kf2x 17 күн бұрын

@aig9672 bro these "labs" take CBD that they have grown and concert it using solvents into other cannabinoids (delta 9, thcv, THC-p, etc). Solvents are very bad cancer causing! You want to avoid anything made with solvents! Best to find real weed that's been grown with low or no pesticides and extract is using ice, heat and pressure!

@glennwade4703 Ай бұрын

😂

@dfj232 12 күн бұрын

Marijuana is a slur

@bryanheairet2925 Ай бұрын

If it produces no seeds...its fake

@robinsss 26 күн бұрын

who said it makes. no. seeds?

@bryanheairet2925 26 күн бұрын

@robinsss can you regrow hemp seeds...yes...but hemp produces seeds ...GMO does not.

@robinsss 26 күн бұрын

@@bryanheairet2925 how do you know most hemp is GMO?

@mr.martinez2333 18 күн бұрын

Shaddup $$$$##$$@@@!

@jonphelan707 24 күн бұрын

Down with synthetic THC ... I want the real deal, I am glad for schedule 3, so take your thc8 or whatever you call it and get twisted!

@seth5308 9 күн бұрын

He didn’t talk about how they chemically change CBD to make delta 8. He’s a bio chemist, not a weed expert. 😂

@MaxGladish 5 күн бұрын

Dude needs to stop calling it marijuana. Also, funny how he doesn’t talk about testing for any pesticides heavy metals or microbial.

@shy404usernotfound 22 күн бұрын

3:53 oh i see we're telling lies are we? "The first"....boy GTFOH, you're growing HEMP. 😂

@Treagor 19 күн бұрын

He’s talking about isolating minor cannabinoids and selling them, not growing hemp. Wasn’t that hard to understand.

@devinsullivan7233 3 күн бұрын

Bro….first, Yes everyone DOES want the effects of delta 9 THC lol. Second, You are not god. Nothing will ever mimick what the plant creates from within its own seed.

@jmula1963 18 күн бұрын

“innovator” 😂

@Gerlingsbulldogges 17 күн бұрын

You say innovator i say hypocrite 🎉❤🎉 cool when they do it its a problem when i do it 💯

@Multi4204life 17 күн бұрын

It's either 3% trash or he's making people vulnerable to government punishment by lying about his product. Either way, pot should be totally decriminalized, not legalized. Bringing in big business just shits on the little guy and sacrifices quality for production.

@ferdis7 29 күн бұрын

Fraud lol

@robinsss 26 күн бұрын

how?

@Plan46beats Ай бұрын

The arm thing is a lie lol 😂

@yassinmotii1547 26 күн бұрын

HHC gas ⛽⛽⛽, i prefer cannaclear over 3chi tho

@mastergroshi677 6 күн бұрын

hemp = barely regulated. marijuana=more regulation. its all cannabis. he just took the cheap route. then preaches about testing lmao. corporate weed ruined good weed now everyone wants great herb at dirt cheap prices. you get what you pay for.

@Brian-tx8gg 8 күн бұрын

3 chi is garabage I have a cart right now and it’s like water inside of it. It has little to no effects

@DaveStoned-v3i 7 күн бұрын

like discussed in the video, that means whatever cannabinoid you're using doesn't work for you because there's a lot of them and they're all different, not that the brand is garbage.