The outlook is still promising for the 2018 Farm Bill to be passed before the end of the year. Congress is expected to make public the final draft of the bill next week, and to vote on it shortly thereafter.
If passed, this bill will permanently legalize low-THC hemp nationwide, and would explicitly remove hemp derivatives like CBD from the Controlled Substances List.
And word is that there has been a change to the provision that would ban people convicted of drug felonies from participation in the hemp industry. In the current draft of the bill, people will be eligible to work in the industry after 10 years have passed since their conviction.
What’s next for the CBD industry after the Farm Bill passes? Well, the Financial Post predicts a “financial cascade” of growth in the CBD industry.
As they note, CBD is already one of the main drivers of the hemp industry. In fact, reports show that 70 percent of hemp cultivation in 2017 was intended for CBD products.
Medical CBD dispensaries opened in Iowa on Saturday, with locations in Council Bluffs, Davenport, Sioux City, Windsor Heights, and Waterloo.
While Iowa’s medical cannabis is limited to low-THC CBD products, and although the state only allows CBD for a short list of conditions, patients still lined up on Saturday morning to be among the first to access the new dispensaries.
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A long-term study following children and adults with treatment-resistant forms of epilepsy found that around 32% of patients eventually developed a tolerance to CBD.
Orrin Devinsky, MD, of New York University Langone Health in New York City, spoke to MedPage Today about the study, saying, “This study found that tolerance develops in one-third of patients with treatment-resistant epilepsies who showed an initial reduction in seizures to a high CBD/low THC product after 7 months. The observation that two-thirds of patients did benefit over a long follow-up period is a key finding.”
As cigarette smoking declines in the US, big tobacco is taking note of the increasing mainstream acceptance of medical and recreational cannabis.
Altria Group, the makers of Marlboro cigarettes, announced a $1.8 billion investment in the Canadian cannabis producer Cronos Group this week.
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