The legalization of cannabis is very complex. And while the US may be the center of attention in this area, it still has a long way to go to build a trusted and well-regulated industry.
Above all, laws must protect patients and recreational users, and you can buy Justbob’s CBD hemp flowerlegally in the US. However, while the federal government avoids arguing over legalization, the United States is closer than ever to supporting a national cannabis industry.
Meanwhile, CBD is legal, and people can finally easily enjoy the many benefits of cannabidiol on the body and mind.
Is CBD oil legal in the United States?
While CBD is legal in all 50 states, it is also confusedly regulated in the US. In 2018, President Donald Trump signed the Farm Bill, making hemp and hemp extract federally legal.
This law created a legal distinction between hemp and marijuana. Marijuana — a Schedule 1 drug — is considered any specimen containing doses of THC more significant than 0.3%. Below this threshold, it is considered hemp. The bill also removed CBD and hemp extracts from the Controlled Substances Act.
Products containing CBD made from marijuana remain illegal, but those made with hemp grown by licensed companies are legal for commercial purposes. As a result, consumers can purchase a wide range of CBD products, including oils, edibles, and even pet food, at retail outlets throughout the United States.
All of these products appear to be clearly in conflict with the Food and Drug Administration (FDA). The organization claims that companies can sell CBD, but marketing the product as a dietary supplement, food, or animal feed is illegal [8].
But what about our neighbors?
Is CBD oil legal in Canada?
CBD oils are entirely legal in Canada, and citizens can purchase CBD-containing products without any restrictions. The nation legalized recreational and therapeutic marijuana and hemp as early as 2018. In Canada, CBD stores are plentiful, but companies have to comply with strict regulations.
The Cannabis Act [9] contains the laws governing CBD in Canada. However, the cannabinoid remains a controlled substance, and anyone wishing to grow CBD-rich cannabis must obtain a federal license and comply with the Cannabis Regulations. Either way, the CBD market in Canada continues to expand.
Anyone who grows hemp with THC levels below 0.3% must also acquire a license issued under the Industrial Hemp Regulations.
The sale of CBD-containing products also requires authorization. The only businesses authorized to sell CBD products are:
- Provincial or territorial licensed cannabis dealers
- Federal licensed sellers of medical cannabis
The Canadian CBD market operates separately. You will not find any European or US brands here. Products containing CBD are imported only in rare circumstances, mostly related to scientific research.
CBD and cannabis market: risks and opportunities of an emerging market The cannabis industry is relatively young. As a result, it can be challenging to understand the different “business models,” and the financial information provided by companies is not always clear and straightforward.
The share prices of cannabis companies (hereafter “cannabis shares,” for simplicity) are subject to significant fluctuations due to
the general opinion that hovers over this market and the dynamics of prohibition policies in various parts of the world.
Furthermore, none of these companies are currently in positive territory, so their share price is based solely on earnings forecasts in a highly competitive market that is only now beginning to be regulated.
Although some of these companies were already present in secondary markets, it was only in 2018 that they first landed on the leading American stock exchanges, the NYSE and NASDAQ.
Cronos Group began trading on the NASDAQ in February, and Canopy Growth joined the NYSE in May, followed by Tilray in June, which entered the market as the first cannabis company to accumulate capital through NASDAQ.
Since then, many new entrants to this industry have begun to populate the major exchanges in New York and Toronto, as well as the less regulated “over-the-counter” (OTC) markets.
Many cannabis lovers and money aficionados are throwing their fortunes into cannabis stocks, fearful of missing out on a bang. But most of these people have no financial experience or have not made an effort to inquire about the financial status of these companies.
Examining a company’s data and documents isn’t easy, and most people don’t have access to this type of data. As a result, the average private investor is betting on something they don’t know. It isn’t necessarily bad — you need to be aware of it.
The growth of small pharmaceutical companies
Several pharmaceutical and biotech companies have started working with natural and synthetic cannabinoids, resulting in products ready for the market or awaiting clinical trials. Here is a shortlist of these companies engaged in developing drugs that affect the endocannabinoid system.
- GW Pharmaceuticals PLC (NASDAQ: GWPH) was founded in 1998 with headquarters in the United Kingdom. GW is the European leader in developing cannabis-derived medicines for the delivery of cannabinoids. Epidiolex and Sativex are their workhorses.
- Arena Pharmaceuticals (NASDAQ: ARNA) is an organic pharmaceutical company that devotes part of its research to cannabinoid-based drugs. Their new product, Olorinab, fights Crohn’s disease by acting on the CB2 receptor.
- Cara Therapeutics (NASDAQ: CARA) is a biotech company testing a range of drugs, including a cannabinoid receptor agonist for the treatment of neuropathic pain.
- Intec Pharma (NASDAQ: NTEC) has developed an oral delivery technology that can deliver CBD and THC in the treatment of various conditions.
- Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) is a small industry company developing transdermal cannabinoid treatments for rare or near-rare neuropsychiatric disorders and some refractory epilepsies.
And for private users, you can now legally find the best CBD products online.
So, what are you waiting for to enjoy the full benefits of the natural CBD flowers, CBD oils, and hash?
