After President Trump’s inauguration, marijuana has become more accessible in those states where it was legalized. However, current regulations of selling a non-psychoactive marijuana component, better known as CBD, prevent businesses from growth.
CBD is a food supplement that people use for treating conditions like insomnia, seizures, pain, or just for relaxation without the ‘high’ effect. Lawmakers are still not sure how to regulate CBD-containing products.
The Farm Bill of December 2018 legalized CBD all over the country, but multiple states have inconsistent CBD regulations. Some rules are confusing to business owners. For example, Igor Yakovlev, the owner of Beezy Beez Honey, claims that he’s being raided even though he has all his products labeled the right way. For CBD oil, a seller must inform customers that FDA does not approve the product.
The White House demands the FDA to find methods to create proper standards for CBD distribution all over the country. But CBD remains non-approved food/dietary supplement, which violates the Farm Bill.
The non-approved status also stands in the way of scientists and medical workers who are looking closely into health benefits of CBD. Besides pain relief and decreasing other unpleasant physical symptoms of some illnesses, CBD can reduce irritability (confirmed by Dr. Raphael Bernier of the University of Washington). The complex regulations freeze testing and implementing CBD products and harm fundings.
The CBD market is flourishing. Last year, the spent on CBD products in the US reached $600 million, prospected to hit $2 billion by the end of this year. Such entrepreneurs like Yakovlev believe that their businesses will have considerable potential for many years.