Does the Farm Bill 2018 affect your practice?

The CBD industry is already worth $1 billion and is expected to reach $16 billion by 2025. The FDA has been cracking down but only on the CBD companies that are selling false claims. However, CBD is still in the middle of an economic boom.

The Farm Bill 2018 has made some regulations about industrial hemp but it still leaves a gray are that aren’t stopping investors. Though, the regulation has created a gray area, the drugs itself haven’t had enough research.

“Studies have shown CBD to be effective as an epilepsy drug, and clinical trials in the United States are exploring whether the extract could help treat anxiety, post-traumatic stress disorder, Parkinson’s disease tremors and chronic pain. But scientists generally say the research is too limited, and more needs to be done,” states the National Hemp Association.

There is a significant education gap surrounding what CBD is and how to use it. However, even to regulate it, there hasn’t been set legal standards.

The farm bill that was passed in December 2018 legalized industrial hemp which is cannabis with levels of THC-the chemical compound that produces the psychoactive high- below 0.3%of the plant weight.

In 2017, a University of Pennsylvania study states ~70 percent of CBD products sold online “either contain more or less of the compound than their labels say.”

What should we be doing?

Celebrities like Kim Kardashian and Martha Stewart already announced they will be launching their own CBD lines. Kim Kardashian had a baby shower revolving around CBD products. Stewart is also partnering with cannabis giant Canopy Growth. Snoop Dogg already has his own Leafs By Snoop brand. And lastly, Mike Tyson is starting his own cannabis farm. With all the celebrities promoting on Instagram it is hard to not want to test out the products ourselves or maybe even invest.

“This is enough to make a casual consumer wonder if they should put their money on the ballooning CBD industry. But there are plenty of questions and caveats to keep in mind before jumping into the game. “There is a cloud of uncertainty regarding CBD,” Alan Brochstein, founder of New Cannabis Ventures and 420 Investor, told Money of the caution potential investors should practice.”

If you practice using CBD, this doesn't mean you have to stop! Just check out your labels and research the products you buy from the company! If you want to invest maybe check out or speak to someone already in the business to give personal advice.

The Future is still unknown

Whether you have tried CBD or haven’t. It is to keep in mind that the future is still unknown. There could be money to make in the short term right now but there is still a chance the FDA can regulate it where money can stop flowing. There could be a long path before the new regulations are issued. CBD is definitely a new trend to be careful of but as long as you are checking out the ingredients and the company's updates then everything should be okay!