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Quote:

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McConnell said he’s visited several hemp processors over the past few months, and one thing that occurred to him was the international implications of hemp legalization. Executives based in countries like Australia and major investors have expressed interest in the hemp business, he said, signaling the crop’s immense potential.

“I don’t want to overstate this—I don’t know if it’s going to be the next tobacco or not—but I do think it has a lot of potential,” he said. “And as all of you already know, in terms of food and medicine but also car parts. I mean, it’s an extraordinary plant.”

When industrial hemp is legalized, it will be  “lightly regulated” by the U.S. Department of Agriculture , McConnell stressed. He added that . the Justice Department wouldn’t be involved and the “only federal involvement would be [hemp farmers would] be eligible for crop insurance.”

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