CBD Industry Being Watched

March 09, 2020 Business Insight , Cannabis , Regulation

On thursday of last week, the FDA released a press statement regarding their progression towards regulation in the cannabidiol market.

Although they claim to be focused on improving the public awareness and knowledge regarding the products that are made with CBD. They have reopened the docket by which researchers can submit their findings for consideration in the regulatory process.

Of course, the main concerns identified in the statement are medical claims that might dissuade a person from choosing an alternative effective medication, thereby risking their health. Further, the production standards for CBD will have to be considered, as the agency cites risk of accidental contamination.

What does it all mean? Well, given that they are so openly and thoroughly uncertain of anything, the indication is that they will NOT be taking any action to enforce any regulatory control for the next few years. Unfortunately this also means that while some CBD manufacturers take this time to get their standards in order to meet those regulations, countless others will flood the market to make a quick buck while cutting corners while they can.

For more details, read the FDA press release Here

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