American Hemp Protection Act of 2025

The American Hemp Protection Act of 2025 (HR6209) was introduced on November 20, 2025, and subsequently referred to the House Committee on Agriculture. This bill aims to repeal section 781 of the Continuing Appropriations, Agriculture, Legislative Branch, Military Construction and Veterans Affairs, and Extensions Act, 2026 (Public Law 119-37), which, effective November 12, 2026, modified the statutory definition of lawful hemp products. The intent of HR6209 is to revert to the 2018 Farm Bill's definition, which excluded hemp from the Controlled Substances Act, thereby maintaining the legality of hemp and hemp-derived products with delta-9 THC concentrations at or below 0.3%. This bill does not authorize or appropriate any specific funding amount. Instead, its impact is regulatory, by removing restrictions that would otherwise be imposed by Public Law 119-37. The mechanism of benefit is regulatory relief and market expansion for hemp-derived products. Companies involved in the cultivation, processing, and distribution of hemp and hemp-derived products would benefit from the removal of these federal controls, as it would prevent a contraction of their legal market. Structural winners, should this bill pass, include companies with significant exposure to the hemp and cannabis-derived product markets. This includes cannabis companies like Tilray Brands, Inc. ($TLRY), Canopy Growth Corporation ($CGC), and SNDL Inc. ($SNDL), which operate in or have interests in the broader cannabis and hemp space. Additionally, agricultural supply chain companies, such as The Scotts Miracle-Gro Company ($SMG), which provides growing solutions, could see indirect benefits from a stable or expanding hemp market. The current market data shows that over the last 7 days, $TLRY has increased by +11.19%, $CGC by +18.6%, and $SNDL by +3.88%, while $SMG has increased by +8.82%. These recent positive movements suggest some market optimism, although the bill's early stage means these movements are not directly attributable to its potential passage. As of April 7, 2026, HR6209 is in the early stages of the legislative process, having only been introduced and referred to a committee. The next steps would involve committee hearings, potential markups, and a vote in the House Committee on Agriculture. If it passes the committee, it would then proceed to a vote by the full House of Representatives. Given the bill's recent introduction on November 20, 2025, and only three recorded actions, it indicates that the bill is still in the initial phases of consideration.