The price of marijuana can change significantly from state to state. Here are some factors that could have an influence on the final price tag.
Cannabis is gaining more and more traction across the United States, with each passing election approving new medical and recreational programs in various states. If you’ve never been to a marijuana dispensary, or if you’ve been to several and have noticed significant price fluctuations, it’s easy to wonder why this happens and whether there’s a price standard that the industry follows. Short answer: there’s not. So, how much does weed cost?
Marijuana prices can vary a lot, depending on the place where you live, the type of product you’re purchasing and its quality. Since cannabis remains federally illegal, there’s not a fixed price tag that dispensaries must follow, with every state demanding different things of product makers and impacting the final price of their product.
Here are some of the most important factors that can have an influence on your cannabis price:
Location
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Where cannabis is grown, manufactured and sold plays an important part in pricing. Each community has its own rules and regulations, impacting the price of the final product. For example, Washington state sells much cheaper weed than California.
State and local tax rates and the amount of growers and sellers in the area will likely have an impact on pricing. Like most products, if there’s a small amount of growers and manufacturers, product prices will likely be higher than if you were to live in a community where there’s a lot of people working and investing in the cannabis industry. Think of it like shopping at Costco vs. your local high-end grocery.
How the product was cultivated and grown
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The way in which the product is grown also has an effect; outdoor growing is cheaper since it costs less to produce and it’s more subject to tampering from outside forces like nature and animals. These prices can alter depending on the season and whether or not it’s harvest time. Indoor growing requires special lights and settings that while may result in better product, cost more to make.
Each batch of cannabis is different, even by small degrees. Once it’s dried and cured, prices can change depending on the quality available, like the amount of terpenes and cannabinoids it has, and more.
The type of product
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The type of product you’re buying also has an influence on the price. If you’re buying a product that comes in a bottle or a container, this will generally be reflected on the price tag, especially if the product is designed to be high-end. This includes both flower and edibles.
The cannabis industry is going through a lot of changes. The best thing you can do in order to ensure you’re getting a fair deal is to do your research. Visit different dispensaries in your area and find a budtender you trust, who can provide you with recommendations and with products that are worth your money.
With the low-risk associated with cannabis, there is plenty of cause for additional and more extensive clinical studies and trials.
An often debilitating condition, multiple sclerosis (MS), affects millions of adults. As a disease affecting the central nervous system, symptoms include vision loss, pain, fatigue, and impaired coordination. A possible way to help in is considering treating multiple sclerosis with cannabis oil
MS manifests in a variety of ways, from unnoticeable to severe symptoms. For many, the disease results in a denigration of the protective layer covering their nerves, resulting in slower signaling throughout their body and chronic pain. Fortunately, as many people suffering from MS turn to cannabis for treatment, research is also being done on cannabis’s safety in treating the disease.
A recent study, published in the journal Multiple Sclerosis and Related Disorders, treated 28 patients with cannabis oil. Each patient was tested in the beginning and then four weeks later. Part of their testing includes data such as “(Expanded Disability Status Scale – EDSS), ambulation (Timed 25-Foot Walk Test – T25FWT), routine blood tests, plasma cannabinoids, dexterity (9-Hole Peg Test – 9-HPT), and processing speed (Symbol Digit Modalities Test – SDMT)”.
Additionally, the study tested the efficacy of medical cannabis for treating the pain, spasticity, and sleep disturbances of the patients each day.
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Cannabis Oils Was Found To Be Safe And Well-Tolerated MS Treatment
While additional research can always be done on cannabis, advocates like Dr. Raphael Mechoulam have pointed out pharmacology’s hypocrisy. It took insulin about a year to hit the market after being discovered – yet, with mountains of research, cannabis is still lagging to catch up with discoveries made decades ago, such as CBD being able to treat epilepsy.
So while this recent study concludes, “this suggests that medical cannabis oils can be used safely, especially at relatively low doses and with slow titration, as an alternative to treat MS-related symptoms when conventional therapy is inadequate,” it is a suggestion, but as is much of medicine. There are no guarantees in life, and so with the low-risk associated with cannabis, there is plenty of cause for additional and more extensive clinical studies and trials.
While the most commonly reported adverse effects from the study were dry mouth, drowsiness, dizziness and nausea of mild to moderate degree, the average reported pain on the numeric rating scale went from 7 to 4, spasticity went from 6 to 2.5, and sleep disturbances went from 7 to 3. These results accompany no reported disability or decrease in ambulation, dexterity or processing speed.
If you’re looking to CBD to help treat certain ailments, like anxiety, make sure you don’t fall into the trap of making these common mistakes.
Over the last couple of years, the demand for cannabis products has been skyrocketed. Scientists have proved the amazing benefits of this powerful plant. CBD acts as a non-psychoactive way to treat various mental issues like anxiety. Many people use CBD products regularly but are not seeing any effect of cannabis for improving their anxiety. Remember, the reason is not cannabis, but rather the way you are using it. Here are common mistakes to avoid when using CBD for anxiety.
There are two common mistakes new consumers make: consuming too much CBD, and buying the wrong product. These blunders may become a big hurdle in getting effective results.
Going With Cheap Quality Products
One of the most common mistakes that many people make is not choosing the right product.
Users purchase cheap quality products to save some bucks or sometimes are not aware of less reputed brands in the market. Therefore, to get the best quality, you need to choose high-quality products. But how to choose the best quality is a matter of concern for new CBD users. Keep in mind these factors;
Check out whether the product is made from a local source of organic hemp. It will save you from buying pesticide-contaminated products.
Choose a product that has undergone with a CO2 extraction method rather than petroleum processing.
Check whether the CBD products have been lab-tested. It will ensure that you are choosing the right product from a reputable vendor.
Sometimes it could be hard to get a quality product that can meet the guidelines mentioned above. But once you choose the best product, it will help minimize anxiety and other symptoms.
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Not Using Right Dose
Suppose you get tired of using CBD to minimize anxiety symptoms while still not getting effective results. Keep in mind to check the CBD product’s dose. Consuming too much CBD has an effect on the body. You may need to do experiments to figure out which is the best dose for your body. Here are some general guidelines:
Always start with low CBD dose consumption. If you are not sure what will be the right dose, choose CBD capsules, gummies, or other similar products with a fixed-dose.
Once you become comfortable with a fixed CBD dose, you can increase it based on the effect on your body. For example, earlier, you were consuming one capsule, now you can go with two. Do not forget to analyze the changing effect of dose on the body.
You can also try the micro-dosing method. This means, here you can take a smaller dose of CBD products after a fixed time. It will help to maintain general health troubles and reduce anxiety symptoms.
It is important to pay attention to certain factors such as digestive system, age, gender, and past CBD experience.
CBD products are a great remedy to deal with anxiety issues and symptoms. But make sure to choose the correct quality product and check the CBD dose. You will soon start getting positive results.
Some of Schumer’s last comments on the subject before becoming Senate Majority Leader suggested that he would push for full-blown legalization if the Democrats took over the majority.
There’s a new sheriff in town.
Democratic Senator Charles Schumer of New York is the new Majority leader of the United States Senate. He dethroned the now Republican Minority Leader Mitch McConnell after Democratic Senators Jon Ossoff and Raphael Warnock dominated the Georgia runoff elections. As of President Biden’s Inauguration on Wednesday, the exchange of power is official. McConnell, the self-proclaimed Grim Reaper of Capitol Hill, is no longer calling the shots. Schumer is.
This is great news for cannabis advocates who have grown tired of watching as one marijuana-related bill after another gets snuffed out at the hands of Mitch McConnell. Over the past four years, the Democratic-controlled House has passed a few pot-related measures and sent them to the Senate for review. But that’s where all of their good intentions have gone to die. Not only did McConnell refuse to hear the bills, but he also presumably burned them out behind the Capitol.
McConnell championed the legalization of industrial hemp, but he’s never been a fan of marijuana. He promised that legalization would not transpire as long as he was running the show. “I don’t have any plans to endorse the legalization of marijuana,” McConnell said back in 2018.
The Kentucky-Republican was always flaunting his power. “I’m the one who decides what we take to the floor, that’s my responsibility as the majority leader,” he once told reporters. Therefore, one of the first things Senate Majority Leader Schumer can do for the marijuana movement is give legislation some consideration. He can allow bills to be debated and voted on by the full Senate. But will he?
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Senator Schumer is a longtime friend of marijuana reform. He brought the Marijuana Freedom and Opportunity Act to the table in 2018 and pushed it again the following year. He’s also been critical of weak cannabis banking measures and really pressured federal lawmakers to take a more hammer-fisted approach to legalizing marijuana at the national level. Schumer isn’t interested in taking baby-steps. Some of his last comments on the subject before becoming Senate Majority Leader suggested that he would push for full-blown legalization if the Democrats took over the majority. “If I become majority leader, I put this on the floor and it’s likely to pass,” he told Green Enterprise.
That’s right, Schumer could actually give marijuana a fighting chance at gaining ground in 2021.
The Senate Majority Leader sets the legislative schedule and controls the agenda. If Schumer wants the Senate to discuss the MORE Act (Marijuana Opportunity and Expungement Act) — a bill designed to legalize the leaf at the national level — it is going to happen. According to the Senate paradigm, “motions to proceed to the consideration of bills and resolutions on the calendar are usually made by the majority leader or his designee, who, as spokesman of his party and in consultation with his policy committee, implements and directs the legislative schedule and program.”
But the minority leader still gets some input. In fact, the rules of the Senate shows that the minority leader can always move a bill. There’s just a gentlemen’s agreement in place, so nobody except the majority leader dictates the flow. This is why Schumer and McConnell are presently trying to negotiate a power-sharing dealon how the 50-50 Senate will operate. Democrats are trying to get rid of the filibuster, while McConnell is clinging on to it because it’s his only chance at maintaining power.
As it stands, though, Schumer is the top dog, which means that marijuana-related legislation will at least receive more consideration than when McConnell held the position. It just depends on whether the Democrats can get the necessary votes to pass something.
However, there’s a lot more at stake this year than just pot reform. Finding ways to alleviate the continued hardship of the pandemic will come first. So, weed might not be the highest priority for Schumer at the very beginning. “We have a lengthy agenda, and we need to get it done together. … This will be an exceptionally busy and consequential period for the United States Senate,” he said in his first speech as majority leader. Still, it would be naïve to think that Schumer and the Democrats won’t use this unique opportunity to get a marijuana-related law on the books.
After all, the time is now. The Democrats could lose their majority power once again in the midterms.
Cannabis pros are expecting the industry to look and feel quite different on the heels of President Joe Biden’s inauguration.
“The cannabis industry will certainly see a fresh influx of investment dollars under a Biden administration,” Narmin Jarrous, the chief development officer of Michigan’s first licensed recreational cannabis retailer Exclusive Brands LLC, told Benzinga.
Democrats taking control of the U.S. Senate bodes well for marijuana reform. But it won’t be on the fervent levels that were seen in 2015 and 2016, Jarrous said.
“While predicting full federal legalization within the next two years may be a little far-reaching, further federal government reforms including passage of the SAFE Banking Act, decriminalization and new social equity initiatives all appear within reach,” she said.
“All of these positive developments will lead to interest from venture capitalists and a new surge of investment dollars into cannabis companies.”
ETFs
Exchange-traded funds operating in the cannabis corner of the market are expected to do well under a Biden-Harris administration.
“Investors now have a greater appetite for cannabis stocks and ETFs, as true marijuana reform seems on the horizon,” Medical Marijuana Inc. CEO Stuart Titus said.
For example, one fund — Global X Cannabis ETF POTX — targets the cannabis industry and spiked more than 93% in recent months, according to Nasdaq.
Graph by 3dman_eu; Leaf by cheifyc via Pixabay
On the heels of the Blue Wave, the markets are anticipating that the Marijuana Opportunity Reinvestment and Expungement (MORE) Act passed by the House in December will be approved by the Senate, which is now split to an even 50-50 between those voting with Democrats and those voting with Republicans.
The MORE Act — which aims to decriminalize cannabis at the national level for the first time, and remove cannabis from the list of federally controlled substances and erase certain federal convictions — would have otherwise had a slim chance of passage.
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‘Stars Seem To Be Lining Up’
While Biden did not specifically mention marijuana reform in his Wednesday speech — the ongoing pandemic and unifying conservatives and liberals were cited as top priorities — Titus and others remain optimistic about how the cannabis sector will transform over the next four years.
“We see this in politics with VP Kamala Harris being ‘all in’ for marijuana legalization, incoming Senate Majority Leader Chuck Schumer sponsoring many congressional bills, and the House’s passage last month of their version of the MORE Act for decriminalization,” Titus said.
“The stars seem to be lining up for federal cannabis reform, especially now that the United Nations has allowed more nations to have leeway for international cannabis treaties.”
One can readily see the tremendous increase in the volume of cannabis stocks being traded on a daily basis, Titus said, pointing out how many cannabis stocks have doubled over the past few weeks.
“Expect the trend to continue, although it may take six months to get major cannabis legislation passed through the new incoming Congress,” he added.
The distribution of the COVID-19 vaccine hasn’t gone according to plan. Here’s why some states have fallen behind and why some are moving faster.
COVID-19 vaccinations are available, but they’re making their way into qualified patients slowly as the government struggles to establish a solid vaccine distribution plan. Still, some states are doing better than others, with experts trying to understand what’s working for them and what’s going wrong with the states that haven’t vaccinated as many people as they wanted.
There’s a huge discrepency between the vaccines that have been distributed by the government to each state and the amount of people that have been vaccinated. While plans have changed on a daily basis, with different governors expanding on who can be vaccinated, the CDC reports that only 39% of the distributed vaccines have been administered to patients.
CNN reports that 9 states have managed to distribute more than half of the doses they received. Leading the nation, with 65% of vaccine distribution, are North Dakota and West Virginia.
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According to experts, states that are doing better at administering vaccines prioritize planning and communication, utilizing lots of local partnerships. “There’s daily communication, with the opportunity for partners to share feedback on what’s working and what’s not. Open lines of communication are ongoing,” said Daniel Bucheli, South Dakota’s director of communications for the state health department.
These states are also putting pressure on healthcare workers to administer their vaccines, with the state of Colorado pressuring health care workers to administer vaccines within 72 hours of having received it. If the vaccine is not administered, it’ll be moved to another hospital or center, so other people can be vaccinated.
States have relied on partnerships with CVS and Walgreens or have taken full ownership of vaccine administration, relying in their own plans instead of the one handed out by the federal government. Another influencing factor is that a large number of the fastest states are rural, with fewer healthcare systems and a smaller population, making for a more simple process.
Each state’s situation is different, with governors approaching their situation individually. While clear communication and setting timelines for when the vaccine should be distributed is necessary, states with larger populations might have more on their plate, making it more difficult to distribute the vaccine as efficiently as the situation asks for.
One of the most photographed rings in royal history is sitting on the finger of Kate Middleton, but it was actually a keepsake Harry took from his mom when she died.
Kate Middletons gorgeous engagement ring made headlines of its own when Prince William popped the question. After all, it once rested on the finger of Will’s late mother, Princess Diana. But it was actually Prince Harry who owned the ring, not his brother. So how did it end up on the finger of Kate and not Meghan? People are wondering why Prince Harry gave away princess Diana’s engagement ring.
According to Hello!, Harry gave the ring to his brother once Kate and William’s relationship got serious and William was going to propose. It’s reported that Harry liked the idea of having his mom’s ring on the throne.
Paul Burrell, Diana’s former butler, revealed this intel during an interview for the Amazon Prime documentary The Diana Story, explaining that the brothers were allowed to keep an item from their mom when she passed.
Per Paul, William said something to the effect of, “I’d like mummy’s Cartier watch, the one that Grandpa Spencer gave to her for her 21st birthday,” and Harry kept the engagement ring.
Photo by Chris Jackson/Getty Images
“I remember when I held mummy’s hand when I was a small boy and that ring always hurt me because it was so big,” Harry reportedly said.
Had Harry been the first brother to propose, Meghan likely would have been wearing the keepsake. But don’t shed a tear for her, because she didn’t exactly lose out on the amazing jewelry lottery, either.
Meghan’s engagement ring is composed of diamonds chosen by Harry himself. “The central diamond is from Botswana, where the couple previously vacationed together, and the other two diamonds are from his late mother’s personal collection,” explains Hello!.
And even though she didn’t get Princess Di’s engagement ring, she did receive another piece of jewelry from her would-be mother-in-law. At her wedding reception, she was seen wearing a stunning aquamarine cocktail ring, which many assumed was given to Meghan by her newly minted husband. From Harper’s Bazaar:
“Princess Diana left her jewelry to the wives of her sons in her will, and given that Meghan wasn’t officially a married woman until the end of the ceremony, she may have chosen to wait to wear a piece from Diana’s collection until after the marriage was official.”
A study by University fo Michigan researchers found that cannabis users produce less dopamine at times when the chemical should be running rampant in the brain.
Although the cannabis industry is one of the largest growing businesses sectors in the United States, some of the science published over the years finds that cannabis users are not exactly pillars of capitalism.
Apparently, people who smoke marijuana do not care as much about money as their sober counterparts, according to Live Science.
A few years ago, researchers at the University of Michigan asked people to participate in a game where they could win a sum of money. While most people’s brains naturally fire up whenever the prospect of winning cash is on the table — producing the feel-good chemical dopamine—this was not the reaction of people who used marijuana. Lead study author Mary Heitzeg suggests that for marijuana users “there is not as much pleasure that is being received from something that would naturally give somebody pleasure.”
Now, to some, the idea of putting less of an emphasis on the almighty dollar might not sound like a bad idea. But researchers believe the results could be an indication that regular cannabis use is changing the pleasure output of our brains, which could make some people more susceptible to dependency issues.
A 2016 study, published in the journal JAMA Psychiatry, examined more than 100 people in their early 20s over the course of four years. Results showed that cannabis users produce less dopamine at times when the chemical should be running rampant in the brain. People who have never used marijuana experienced a completely different reaction. If there is the potential for reward, their dopamine production will be off the charts.
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Researchers believe the results show how marijuana dulls the brain and opens users up to addiction.
“Some people may believe that marijuana is not addictive or that it’s ‘better’ than other drugs that can cause dependence,” Heitzeg said. “But the new study shows that marijuana’s effects on the brain may make it more difficult for people to stop using the substance. “It changes your brain in a way that may change your behavior, and where you get your sense of reward from,” Heitzeg added.
Without discounting the study, it is important to point out that people who enter the realm of cannabis dependency are not walking the dark, all-damning ledge that is often associated with other drug addictions. Unlike opioids, cannabis does not cause permanent changes in the brain and dependency issues are rare. In fact, some of the latest government studies find that marijuana is really only problematic for roughly 9% of those who use it regularly — about the same as caffeine.
What’s more is researchers admit that the brain changes they witnessed may not even be related to cannabis.
Investors believe stocks at ETFs will continue to flourish in the years to come with America embracing a slightly more liberal-leaning federal government.
The global cannabis market is ballooning and should continue to inflate more in the coming years. Recent reports suggest that the global market could reach a value of $73.6 billion by 2027.
The boom and its potential have scores of cannabis stocks listing on various global exchanges. Interested investors have a plethora to choose from. It can be challenging to gauge which will win out with many to choose from in the end. At this time, there is no one clear-cut dominant stock in the emerging cannabis space.
However, through a variety of matrices, experienced stock leaders determine what they consider to be leading options in the market. A few of these investors offered various takes on leading stocks and sectors to consider.
Various Methods To Determining Best Stocks
Veteran cannabis investors use a variety of approaches to designating their best picks in the market. As such, several investors were hesitant to offer up specific stock picks. Instead, most touched on their most influential metrics, as well as some leading those data points at the current moment.
Joseph Hogue, a former Wall Street analyst and founder of My Stock Market Basics, highlighted market cap and size as prime factors. With a $2.3 billion market cap, the analyst singled out Cronos Group.
“Another advantage of Cronos over peers is that it’s got a huge cash reserve,” added Hogue. He noted that having a $1.8 billion investment from Altria Group and no debt are significant advantages for growth and acquisition.
Hogue brought up Canopy Growth‘s and its industry-leading $6.4 billion market size as one of his favorite plays. He said American federal legalization plays a significant factor in the determination.
“Canopy closed a deal last year to buy U.S. Acreage contingent upon federal legalization, and this kind of foresight could be about to pay off,” said Hogue, adding that Acreage holds licenses for over 100 dispensaries and cultivation sites across 20 U.S. states.
Dennis O’Neill, a former investment banker of over 30 years and current president of BioMediCan, discussed estimated net incomes. He said, “The best stocks are the companies that are profitable and have significant revenue and profitability.”
Others focused on sectors over data points when making their choices.
Jeff Siegel, the managing editor and co-founder of Green Chip Stocks, focused on a market both Hogue and O’Neill see winners in, multi-state operators (MSOs). Siegel, a managing partner of the psychedelics and plant-based medicine JLS Fund, described what he looks for in a viable MSO.
“You have to go with the ones that have the largest war chests of capital and the least amount of unsustainable debt,” he said.
His top pick was Curaleaf, with MariMed and Red, White & Bloom considered bargains at their prices. He said the low prices are due to overselling and trading the stock at discounts compared to peers.
Would-be investors should avoid red flags, including those that don’t provide benefit to its shareholders as well as those that took on an unsustainable amount of debt in recent years.
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“They’ll be gone by the end of the year,” Siegel predicted of the debt-saddled companies.
Vice Ventures Founding Partner Catharine Dockery also finds value in the retail space while adding that she’d avoid cultivation stocks. “These companies tend to be capital intensive and, more importantly, are really at the mercy of wholesale cannabis prices,” she said. Dockery added that vertically integrated companies have a degree more protection but are still at risk as legalization increases in the U.S.
“Cannabis price declines have been a fact of life in legal markets,” said Dockery.
Don’t Rule Out ETFs
Exchange-traded funds (ETFs), an investment fund composed of several securities typically under one index, are also worthwhile for some investors.
Stock novices may be one group to benefit. “If you’re expecting the entire sector to move higher and don’t have strong research or fundamental views in the space, you’d probably be best served by looking at an ETF or one of the larger players,” said Dockery.
O’Neill offered a similar take. “ETFs are fine if you are a novice and just want some exposure to the market,” he said. “Otherwise, the well informed will buy individual stocks.”
Photo by Darren415/Getty Images
Other well-informed investors detailed benefits they found in ETFs. Dockery liked how an ETF shields from some adverse market happenings. “It also leaves you less exposed to bad news, like disappointing earnings or poorly received M&A, in any specific company,” she added.
Both Hogue and Dockery enjoyed the ease and less-intensive tasks involved with ETFs. Calling it “stress-free investing,” Hogue said ETFs like market leader ETFMG Alternative Harvest ETF could help build exposure.
However, he added that investors could recreate the fund and its 37 accounts on their own without the 0.75% expense fees. “That’s not a deal-breaker, but you can easily recreate the same returns by investing in a dozen or so of the individual companies,” he said.
Like a single stock, investors need to do their research to see which securities are in the fund. Research into ETFs led Siegel to steer clear of the funds despite their ease. He said that individual ETF options could contain questionable holdings and unnecessary risks.
Investors must consider the pros and cons of each stock and ETF before investing. That said, investors believe that those options will continue to flourish in the years to come with America embracing a slightly more liberal-leaning federal government for the next two to four years.
A well-designed regulatory scheme aimed at bad actors without over-regulating the industry would likely lead to positive market gains, says one industry expert.
Recent settlements between the U.S. Federal Trade Commission (FTC) and six CBD operators underscore the latest attempt to curtail long-running mislabeling concerns.
A new endeavor, Operation CBDeceit, now aims to crack down on CBD operators’ deceptive claims that the drug treats medical conditions.
“The FTC is requiring each of the companies, and individuals behind them, to stop making such unsupported health claims immediately, and several will pay monetary judgments to the agency,” says Braden Perry, a regulatory and government investigations attorney with Kansas City-based Kennyhertz Perry LLC.
The first-of-its-kind industry crackdown targeted six sellers and their unsubstantiated medical claims.
A 2017 Penn University study found that nearly 70% of extracts sold online were mislabeled. The following year, an analysis of the UPenn study concluded that inadequate regulations contributed to the startling industry issue.
In July 2020, the Food and Drug Administration reported that less than half of the 150 products evaluated were labeled correctly.
Meanwhile, the CBD market — expected to reach a $26.4 billion valuation by 2025 — continues to grow while facing ongoing issues about mislabeling and misleading claims.
Regulations Prevent Additional CBD Insights
While mislabeling is a concern, so too is the lack of lab studies to verify CBD claims.
In a joint email response, Brett Goldman and Steve Bevan of OCAN Group (formerly GennCanna Global) note that CBD sits in a grey-area regarding federal and state regulations.
“We know that they’re watching the industry intently and will continue to do so until a regulatory framework is released,” they said.
The only recent regulatory shift on the federal level leaves CBD short on verified lab studies, limiting operators from saying much without running afoul of the feds.
Jeff Greene, founder and business development director for The Florida Hemp Council, says “as more research is done, many of these issues will go away.”
“Many companies have tried to thumb their nose at the regulators, and that never goes well long-term,” Greene says.
Photo by Evopure CBD via Unsplash
Mixed Reaction From The Industry
OCAN expected this type of regulation since 2017, and called it a positive signal from regulators and their belief that CBD is inherently safe.
Henry Baskerville, a partner at Fortis Law Partners in Denver, also supports the FTC decision.
“All for it,” Baskerville says, adding that his support stems from the more radical claims made by individual operators.
“Some of them say that CBD cures cancer or HIV or all this, and it’s irresponsible,” he adds, citing how improper actors give the market a bad name, leading the public to consider CBD as snake oil.
Others are concerned about the precedent set by the FTC.
“Without clear guidance for the industry, this is dangerous territory for the FTC,” Perry says. A hasty attempt to nab every improper actor could lead to a failed mission and more harm to the burgeoning space.
Also, lab testing must be more consistent in the future.
“Getting five different results from five labs makes running a cannabis company very frustrating,” Greene says.
Perry and Greene noted that the market can improve under the right circumstances.
A well-designed regulatory scheme aimed at bad actors without over-regulating the industry would likely lead to positive market gains, Perry says, adding that the success would have to stem from collaborations between regulators, legislators and operators.
