Hemp or Industrial Hemp by definition is a variety of the Cannabis Sativa plant species, is possibly one of the earliest plants to be cultivated for textile fiber, with evidence of its use recorded of over 10,000 years ago. Hemp has a wide array of uses, it can be use in commercial and industrial products, including rope, textiles, clothing, food, paper, and others. More than 30,000 Hemp derived products can be made from the plant.
Under the Hemp Production and the 2018 Farm Bill, hemp was removed from the definition of marijuana in the Controlled Substances Act (CSA). The new bill defined hemp as cannabis (Cannabis sativa L.) and derivatives of cannabis with extremely low concentrations of the psychoactive compound delta-9-tetrahydrocannabinol (THC) no more than 0.3 percent THC on a dry weight basis. This means that Hemp has the lower concentration of THC (tetrahydrocannabidiol) and higher concentration of other cannabinoids like CBD (cannabidiol), which decreases or eliminates its psychoactive effects.
Reference: