Trimax Corporation (TMXN)

[Tossil]

Congress federally legalized hemp with the Dec. 12 passage of the 2018 Farm Bill, opening a market that Brightfield Group estimates will reach $22 billion by 2022.

The $867 billion agriculture law cleared the Senate Dec. 11 with a 87-13 vote before gaining approval in the House Dec. 12 with a 369-47 vote. The bill has been sent to President Trump, who is expected to sign it into law.

The Farm Bill removes hemp from the Controlled Substances Act and allows farmers to pursue federal hemp cultivation permits, while individual states can regulate the industry within their borders as they see fit. Already, 40 states have established hemp cultivation “pilot programs” for industrial and commercial purposes, although the plant has been strictly regulated.