The federal redefinition of hemp, slated to go into place later this year, would effectively bring the industry to its knees, according to reporting from The Charlotte Ledger. While some business owners are anxiously hoping for an 11th-hour change to the law, at least one industry expert says the damage has already been done.

The looming ban has prompted a pullback across the state, with businesses responding to the uncertainty by scaling back operations or closing entirely. The exact number of closures was not immediately available, but the trend is clear: the industry is contracting before the deadline arrives.

Hemp-derived products, including THC seltzers, have been available at local bottle shops and chain stores such as Total Wine & More in south Charlotte, but they could become illegal later this year under the federal change.

The redefinition would alter what qualifies as legal hemp, effectively outlawing many products currently sold in North Carolina and elsewhere. The shift threatens an industry that has grown rapidly in recent years, providing jobs and tax revenue in communities across the state.

Business owners are holding out hope that Congress or federal regulators will intervene before the deadline, but industry experts caution that the market has already begun to adjust. The uncertainty alone has been enough to force some operators to shut down.

The story was first reported by The Charlotte Ledger.