Changes in the Hemp Industry: What to know and what you should be doing today

Episode Summary: In this episode of The Law by Leo Podcast, host Leann Lyon discusses critical upcoming changes in the hemp and cannabis industry with Alexander Leonowicz, founder of Law by Leo. They delve into the implications of the new federal definition of hemp, set to change on November 12, 2026, which will redefine THC limits per package. Alexander explains how this shift will affect operators, particularly those who have been leveraging the current loopholes in the farm bill. The conversation covers the importance of proactive legal strategies, including inventory management and banking relationships, to prepare for the regulatory changes. Alexander also introduces the fractional general counsel model as a cost-effective solution for businesses needing comprehensive legal oversight without the burden of a full-time legal department. Listeners will gain valuable insights into staying compliant and competitive in a rapidly evolving legal landscape. Key Timestamps: 00:01 – Introduction 00:15 – Upcoming Changes in Hemp Definition 01:25 – Impact of the Farm Bill Loophole 02:28 – Federal Definition and Market Impact 03:14 – THC Limits Per Package 04:10 – Products Affected by New Regulations 05:00 – Regulatory Discrepancies Between Hemp and Cannabis 06:03 – Preparing for Regulatory Changes 07:12 – Banking and Inventory Management 09:03 – Adapting Products to New Regulations 10:07 – Importance of Proactive Legal Strategy 11:32 – Navigating Federal and State Regulations 14:24 – Fractional General Counsel Model About the Show: The Law by Leo Podcast is a podcast dedicated to helping businesses navigate the complex legal landscape of high compliance industries such as cannabis, gaming, and more. Hosted by legal experts, the show offers insightful discussions on regulatory changes, legal strategies, and compliance best practices. Designed for business owners, legal professionals, and industry stakeholders, the podcast aims to provide clarity and guidance in an ever-evolving legal environment. With a focus on proactive legal planning and strategic growth, The Law by Leo Podcast empowers listeners to make informed decisions and stay ahead of the curve.