Earlier this week, the Drug Enforcement Administration and the Department of Justice announced that their standards no longer include hemp and CBD among controlled substances.
“Hemp, including hemp plants and cannabidiol (CBD) preparations at or below the 0.3% delta-9 THC threshold, is not a controlled substance” reads the proclamation of the two organizations.
The announcement focuses primarily on the effort to broaden and expand the marijuana research program, but this small clarification has opened several conversations.
Donald Trump signed the Farm Bill of 2018 last year, essentially legalizing hemp products and derivatives, as well as changing the definition of marijuana in legal terms.
Through this bill, hemp is now defined as a plant material containing 0.3% or less delta-9 THC on a dry weight basis.
Originally, hemp and CBD were referred to as a Schedule 1 controlled substance. With the Farm Bill, these plants are considered an ordinary agricultural commodity.
Given the relatively new bill and the recent statement proclaimed by the DOJ and DEA, media outlets, business owners, and the general public are confused about the limitations and boundaries of hemp and CBD products.
Although the Attorney General did not explain the alteration in the classification of CBD and hemp (categorizing them with uncontrolled substances), the lack of research in marijuana and the hemp plant may have influenced his decision.
Hemp and CBD products have gained the reputation of aiding people with chronic pain and even specific diagnosed illnesses.
General pain can target any demographic, and at times, standard medication does not alleviate the symptoms. However, CBD oil has shown great promise without any severe consequences.
A controlled dose of CBD can stabilize the pain in a patient, removing any discomfort that typical treatments perhaps are not able to do.
The anti-inflammatory and painkilling properties found in CBD react with the human endocannabinoid system, producing an alleviation of chronic pain.
The success of the CBD treatment, especially within the elderly community, is revealed in the numbers. About 89% of elders using CBD in conjunction with pain medicine reported they would recommend this treatment to a friend.
The Farm Bill of 2018 not only alters the definition of marijuana but also ultimately made CBD available in all 50 states in America.
However, many regulators still endorse an aura of caution around CBD, as shown by the FDA’s failure to approve the product for use in the food and pharmaceutical industries.
The FDA did approve the first drug containing CBD, Epidiolex, due to the drug’s overwhelming success. The drug has helped patients struggling with pediatric epilepsy and seizures.
Several cases in multiple states have involved incidents with people carrying CBD oil regardless of the legalities outlined in the Farm Bill.
Washington County of Nebraska authorized a raid on a store distributing and selling CBD products. Although the prosecutor sought felony drug charges three times, the judge for the case dismissed each attempt.
Perhaps the most famous incident was the arrest of a 69-year old woman for having CBD oil on her person in Texas earlier this year.
Despite recent legalization from the United States government, people still tend to not trust hemp and CBD products due to their lack of knowledge surrounding the topic.
Most would be surprised to discover that CBD is not an addictive substance. On the contrary, CBD is used to battle addiction to other substances, such as alcohol, hardcore drugs (heroin, cocaines, etc.), and opioids.
The relation between CBD and cannabis does not mean that the former is an addictive substance, as is the widespread belief.
Medical professionals, scientists, and other experts in the field claim that the human body naturally produces CBD in the endocannabinoid system to maintain balance during times of stress.
Therefore, people cannot possibly become addicted to the human body’s own naturally produced compound.
Theoretically, the human body can consume any amount of CBD without any possible form of addiction to the substance.
Even though the general concern in CBD and hemp is still high (but still lower than before), the economy surrounding these products is only expected to rise from here.
Predictions state that the CBD market could reach $20 billion by the year 2024, proving that CBD can become a mainstream product used throughout the United States and internationally as early as 2020.
Several factors are contributing to the formation and expansion of the CBD market, making it the next big investment opportunity. Some factors are the growing demand that substantially lowers the cost of the product and the involvement of other industries bringing in CBD to their products.
Some consider the increase in consumer sales of CBD oil a positive force. Investment specialists also view CBD as the next gold in terms of value.
Different industries, such as wellness, cosmetics, and food and drink, have been infusing CBD into their lines of products.
Sephora, for example, is one of the few companies to successfully include a new line of CBD oil cosmetic products.
The wellness market has experienced a remarkable 12.8% industry market growth between the years 2015 and 2017 due to the increasing demand for CBD oil.
With this growth in mind, CBD oil can become a health supplement by different media outlets as early as next year.
While the topic of CBD and hemp products are still more or less controversial, the change in legislation and the general conversation across the globe has been gradually warming to the idea.
From the Farm Bill of 2018 in the United States to the federal legalization of marijuana for recreational use in Canada, the boundaries of CBD have been pushed farther out in the last couple of years.
Even though the Department of Justice and DEA have withdrawn the legal substance’s classification as a controlled substance, research is being conducted to determine the future of CBD. So far, the future looks bright!