One of the major driving forces in cannabinoid markets is Delta-8 THC (∆8 THC).  The ability to convert CBD isolate into cash has enabled operators to work through some of the immense stocks of isolate that have built up over the last two years. This demand has helped to buoy hemp prices, particularly CBD isolate prices, but the real take-home is that it has had a meaningful impact chipping away at supply.   The risk for highly capitalized operators is hard to overstate though.  

The problem is that extractors do not control a product once it has transacted, and buyers are not transparent about intended use.  Many sellers couldn’t care less. It is a black market though, to be sure, and despite ∆8 having not yet been tested in court to our knowledge, it’s safe to assume that prosecution could be successful. The range and number of people isomerizing CBD into THC is…