President Donald J. Trump signed the Agricultural Improvement Act, commonly referred to as the “Farm Bill,” into law on Thursday. The bill removes hemp from the list of federally controlled substances. Hemp is
defined as Cannabis with a THC concentration less than or equal to 0.3 percent on a dry weight basis.
Now that Hemp is legal, the FDA says it will develop a plan to regulate and oversee the sale of CBD products. According to FDA Commissioner Scott Gottlieb, CBD cannot be used in food or drinks because it is a pharmaceutical ingredient in Epidiolex, a prescription drug.
Despite the legal uncertainty, CBD products like capsules, tinctures, vape pens, and topical balms can be purchased in many stores and online.
The CBD market is speculated to reach $22BN by 2021.
Suggested Readings:
Hemp is Now Legal thanks to the Farm Bill
The Next Gold Rush is the $22BN CBD Market
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