EXCLUSIVE — If the impending ban on U.S. hemp products takes effect as written on Dec. 11, about 68.1% of U.S. hemp-related businesses will fold entirely, according to a new economic report on the hemp cannabinoid industry.

Whitney Economics, a research and consulting group that analyzes hemp and cannabis economics, released a report Tuesday on the current state of the national hemp industry ahead of the December ban on hemp-derived THC products. Congress wrote and approved the hemp-banning language as part of a November 2025 deal to fund the government after the 43-day shutdown. The ban was initially set to take effect on Nov. 11, but Congress recently voted to delay the ban by four weeks as the industry attempts to negotiate a reprieve.