Cannabinoid hemp markets have struggled to gain traction amidst unclear regulation, and paltry demand, in part because a lack of regulatory clarity. Delta-8 THC (∆8) has by far represented the most demand in cannabinoid hemp markets since mid-2020, accounting for thousands of kilos of CBD isolate and other extracts used as feedstock for isomerization to ∆8. 

This is a very opaque market, making volume difficult to track.  Operators – mostly principals – are reluctant to share ∆8 transactions, given the increasing risk.  At least a dozen states have either banned ∆8 or synthetic cannabinoids in recent months, or plan to regulate it like MJ. 

Opinions on ∆8 vary in the diverse hemp industry.  For operators with a history in cannabis markets, or any financial interest in ∆8 marketing, the product doesn’t raise eyebrows as much as it does for newer entrants to extraction, or stakeholders in the hempseed or fiber…