After more than three years of stops and starts and difficult negotiations, the era of hemp CBD prohibition in California will soon be over, now that the California state legislature overwhelmingly approved AB45, a bill to legalize it. The hemp CBD opportunity expands but some guard rails will cause more problems than they solve—for farmers, extractors, and anyone looking to sell into the Cali market. Read more at Natural Products Insider.
Rodney Hood, board member and former chairman of the National Credit Union Administration slammed Congress for its inaction on cannabis banking reform. Regulators rarely take such forceful policy positions. Hood is calling for the creation of an interagency working group of federal financial regulatory agencies. Read more at Marijuana Moment.
According to new research from Global Market Insights, Inc., worldwide CBD market could exceed $108.8 billion by 2027. Read how a growing presence in cosmetics, escalating anxiety and stress—and Australian senior citizens—may boost sales at the Cannabis Industry Journal.
Read about a new law allowing veterinarians to recommend and administer hemp and cannabidiol products below 0.3% THC without fear of sanction from the state licensing board. This comes as the pandemic pet boom fuels sales of CBD pet products, a segment projected to reach $300 million by the end of 2021, according to NielsenIQ. Read more at Hemp Industry Daily.
Two U.S. health agencies on Tuesday warned about adverse events associated with the use of delta-8 THC products. Delta-8 THC products have proliferated over the last year in gummies, chocolates, tinctures, vapes and other forms, but they are often available to the public without any age restrictions or state regulations. Read more at Natural Products Insider.