Market for CBD Is on the Rise

Cannabidiol (CBD) is one of more than a hundred phytocannabinoids naturally occurring in the resinous flower of cannabis. CBD does not have the same psychoactivity as Tetrahydrocannabinol (THC). CBD extracted from marijuana remains a Schedule I Controlled Substance, and is not approved as a prescription drug, dietary supplement or allowed for interstate commerce in the U.S. CBD derived from hemp (with 0.3% THC or lower) was delisted as a federally schedule substance by the 2018 Farm Bill. CBD cab be supplied for consumption in various forms: CBD Oil containing only CBD as the active ingredient (with no THC), a full-plant hemp extract oil, capsules, dried cannabis or as a prescription liquid. Clinical research on CBD has included preliminary studies of anxiety, cognition, movement disorders and pain, as well as for epilepsy.

In America, the Marijuana Tax Act of 1937 had the practical effect of stopping the growing of hemp, although hemp had been used for centuries as a source of fiber for use in ropes and other materials. Later, the Controlled Substances Act of 1970 listed hemp, as well as marijuana, as Schedule I level narcotics due to the presence of tetrahydrocannabinol (THC). The legalization of certain uses of marijuana on the state level in several U.S. states in recent years, plus the federal 2018 Farm Bill, brought the hemp industry back to life. The Farm Bill acknowledged that hemp contains only tiny amounts of THC. The 2018 delisting of cannabidiol (CBD) as a controlled substance by the U.S. government has helped to create potential for a growing market for a number of CBD products.

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