This market asks whether CBN (cannabinol) – specifically in hemp-derived sleep products sold outside state-licensed marijuana dispensaries – will still be federally legal as a “hemp” ingredient by November 12, 2026.

Background

Since the 2018 Farm Bill, “hemp” has been federally legal so long as it contains <0.3% delta-9 THC by dry weight. That opened the door not just to CBD, but to a flood of hemp-derived cannabinoids (delta-8, THCA flower, CBG, CBN, etc.) sold online, in gas stations, and in head shops – often in states without legal marijuana.

CBN is a degradation product of THC – it forms when THC oxidizes over time – and is typically described as mildly psychoactive or sedating rather than strongly intoxicating. It’s heavily marketed as a sleep aid in “CBN gummies,” oils, and softgels.

In November 2025, Congress passed – and President Trump signed – a shutdown-ending spending bill that also rewrites the federal hemp rules. The law:

• Redefines hemp to cap “total THC” at 0.3%, not just delta-9 (so it counts delta-8, THCA, and other THC isomers).

• Imposes a 0.4 mg cap per finished consumer container on “total THC or any other cannabinoids that have similar effects (or are marketed to have similar effects) on humans or animals as tetrahydrocannabinol,” as determined by HHS.

• Bans synthesized/chemically converted hemp cannabinoids in consumer products.

• Takes effect one year after enactment, i.e., in late 2026.

Crucially, the statute does not name CBN, but the “similar effects / marketed as similar” clause gives regulators room to treat CBN as effectively THC-like if they choose. Given that CBN is a THC degradation product and widely marketed for sedation and sleep, it sits in a regulatory gray zone: it could be treated as a benign “non-intoxicating” minor cannabinoid, or as a “similar-effects” cannabinoid that counts against the 0.4 mg cap even when THC itself is ~0.

State-licensed marijuana dispensaries are governed by state cannabis law; the new federal hemp rule mainly targets hemp-branded products in general retail and online channels. Those dispensary products aren’t the main subject of this market.

This market is about what federal law and binding federal interpretation have actually done with CBN by Nov 12, 2026.

Resolution criteria

The market resolves based on the federal legal status of hemp-derived CBN products intended for human consumption and sold outside state-licensed marijuana programs (e.g., CBN sleep gummies, tinctures, capsules sold as hemp supplements).

It resolves YES if, by end of day Nov 12, 2026 (U.S. Eastern time), CBN is still federally legal as a hemp ingredient in more than trace amounts, meaning:

1. There is no federal statute or DEA scheduling decision that explicitly bans CBN itself (i.e., CBN hasn’t been scheduled on its own or named as a prohibited substance outside the hemp context); and

2. HHS/USDA/FDA/DEA have not issued binding rules or formal guidance clearly classifying CBN as a “cannabinoid with similar effects” such that CBN-only hemp ingestibles (with ≤0.3% total THC and ≤0.4 mg THC per container) are treated as illegal; and

3. As of Nov 12, 2026, hemp-derived CBN products are still being openly marketed and sold online and across state lines as compliant hemp products, without being the subject of broad, coordinated federal enforcement actions or formal warnings that say “CBN itself is not allowed in hemp products except at de minimis trace levels.”

4. Any formal federal clarification that specifically addresses CBN states that hemp-derived CBN is not treated as a “similar-effects” cannabinoid and remains a permitted hemp ingredient, subject only to the general hemp THC limits.

In other words: YES = CBN remains, in practice, a permitted hemp cannabinoid, subject only to the new THC caps (so a low-THC “CBN sleep gummy” is still generally understood to be federally legal hemp).

The market resolves NO if, by Nov 12, 2026, CBN has effectively been pushed out of the federal hemp category, for example because:

• A federal agency (HHS, FDA, USDA, or DEA) has formally interpreted the new law to treat CBN as a “similar-effects” cannabinoid that counts toward the 0.4 mg cap even when THC is negligible, and guidance or rulemaking clearly states that hemp ingestibles whose psychoactive effect is primarily CBN are not lawful hemp products; or

• New federal legislation or a DEA action explicitly schedules or bans CBN in consumer products outside FDA-approved drugs; or

• Broad, coordinated federal enforcement (e.g., warning letters, seizures, or criminal cases) targets CBN-only or CBN-dominant hemp products on the ground that CBN itself is an impermissible intoxicating hemp cannabinoid, and these actions are clearly tied to federal interpretation of the new law.

State-legal marijuana CBN products inside state dispensaries do not save the market for YES; this is about hemp-branded CBN products in general commerce. If the only place you can realistically buy CBN is in state dispensaries or as an FDA-approved drug (while hemp CBN supplements are treated as unlawful), the market resolves NO.

If the situation is murky but tilted one way – for example, if draft guidance exists but is not final, or a few isolated enforcement actions exist without clear nationwide policy – I resolve to the best good-faith interpretation of whether CBN is, in practice, still a federally permitted hemp ingredient versus being effectively banned in hemp products.