It’s an exciting time to be part of the CBD industry – there’s nothing quite like it.
Not only is the industry expanding at an explosive rate for manufacturers and distributors, but customers are also experiencing life-changing benefits thanks to Industrial Hemp. While marijuana is federally illegal, CBD isolate sourced from Industrial Hemp is legal because it contains no THC and won’t produce a high. Hemp is a variation of Cannabis with extremely low or no level of THC, so it differs from marijuana significantly. At Hemp Bombs, we proudly source our premium CBD extract from organic, high-quality Industrial Hemp. As industry leaders continue to advocate for CBD’s wide-ranging potential health benefits, we’re thrilled about the changes being made worldwide that make it easier for everyone to purchase CBD oil products.
With so much happening on both national and state levels, it’s impossible to catalog every important legal CBD development that’s happening right now. Instead, we gathered five of the most important CBD legality developments that have taken place in 2018. This list is by no means comprehensive, but it provides glimpse at how CBD is becoming an unstoppable force. Read on to find out more about CBD legality and what you need to know as a distributor or retailer.
1. The FDA Approved An Epilepsy Drug That Contains CBD
In a huge win for the CBD industry, the U.S. Food & Drug Administration has approved Epidiolex, a drug that treats rare forms of epilepsy and has cannabidiol as its active ingredient. The medication will be used to treat patients 2 years old and older, and it is a revolutionary move for the agency. The FDA is recognizing the medicinal benefits of CBD, which effectively helps lessen the stigma that CBD faces in media coverage and from law enforcement.
2. Indiana Explicitly Legalizes CBD
In November 2017, Indiana governor Eric Holcomb faced pushback after telling distributors to stop selling CBD oil. Previously, state police had arrested a CBD oil user for marijuana possession – even though the oil he was using had no Tetrahydrocannabinol, or THC. THC is a prevalent compound in Marijuana, and it’s responsible for the plant’s psychoactive effects. That’s why it’s so important that state legislators in Indiana decided to clear up the confusion and explicitly legalize hemp. We already know that CBD is federally legal, but Indiana legislators took an important step by requiring manufacturers to include batch information and ingredients with every product. This also makes it more difficult for law enforcement officers to mistakenly arrest someone for possessing CBD isolate, which contains no THC.
3. The Senate Approved The 2018 Farm Act
The 2018 Farm Act contains several provisions, but the most important one involves industrial hemp regulations. The U.S. Senate approved the bill, and it will likely soon become law, although it could be revised along the way. If this year’s Farm Act is signed by the president, industrial hemp will likely become cheaper as it’ll be produced en masse nationwide – which is a win for customers, distributors and manufacturers.
4. Canada Legalizes All Industrial Hemp
The future of CBD has been unclear in Canada for a long time – but the country put an end to the uncertainty when lawmakers made Industrial Hemp legal nationwide in June. What does this mean for the CBD industry? Farmers in Canada can grow and harvest Hemp, and it’s expected to generate billions of dollars for the nation’s economy. Previously, Industrial Hemp could only be used in food and clothing, and farming Hemp for CBD is now federally legal too.
5. Sens. Elizabeth Warren and Cory Gardner Introduced The STATES Act
Independent of the Farm Act, Senators Elizabeth Warren and Cory Gardner have introduced the bipartisan Strengthening the Tenth Amendment Through Entrusting States (STATES) Act. President Donald Trump has already agreed to support the bill, and if it’s passed, it’ll completely transform the CBD industry. The law would remove Hemp from the Controlled Substances Act and allow states to grow and sell Hemp products without any risk of being punished by the federal government.
6. Wisconsin Clarifies Its CBD Opinion
While this isn’t a law change, it’s still noteworthy. Racine County, Wisconsin district attorney Tricia Hanson issued a press release in June saying CBD without a doctor’s prescription is illegal; the office reversed its stance a few days later and said CBD that doesn’t have THC is allowable. Those of us in the industry were already aware of this, but hearing a hard-on-crime prosecutor reverse her stance helps educate people about what CBD really is.
With all of the legislation currently pending and the bills that have been passed, it’s a good time to get into CBD distribution. It’s expected to grow into a $2.1 billion industry by 2020, which is only two years from now. CBD is well on its way to dominating other natural pain and anxiety solutions, and there’s never been a better time to be a CBD seller or buyer. If you’re a retailer or distributor, you have the opportunity to partner with a leader in the industry. Learn more about our Hemp Bombs retail and distributor wholesale programs.
Financial Post -- Prairie hemp farmers could win big with new cannabis rules
The Times of Northwest Indiana - New Indiana law clarifies that CBD oil is legal for all Hoosiers to use
Staunton News Leader - Hemp set to be legal nationwide as Farm Bill moves forward
The Journal Times - Racine County DA warns that sale of CBD oil, CBD-laced gummy bears is illegal
Racine County Eye - UPDATE: Racine County DA clarifies position on CBD oil sales