Hemp is getting hotter, with help and harm from marijuana
Betsy Ross stitched the first American flag using hemp and actor Woody Harrelson was once threatened with jail time for growing the crop.
Today, retailers from Whole Foods Market Inc. WFM, -0.17% to Wal-Mart Stores Inc. WMT, +0.01% sell bags of shelled organic hemp seed for snacking, BMW stuffs some of its car seats with hemp, a hemp derivatives exchange has launched and an advocacy group, GrowHempColorado, wants to tap cryptocurrency for hemp transactions.
Industrial hemp’s evolving story stands at a crossroads. The cash crop is simultaneously helped and hurt by rule changes impacting its better-known and controversial cannabis cousin, marijuana. But the hemp market has financial-services and farmer backing, especially in states that once grew tobacco and want to replace that revenue. It’s also an industry that’s still working out the economics between importing hemp and reviving a...
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