2020 will be a historic and transformative year for cannabis, particularly for hemp and CBD. Here are my top 5 predictions.
This historic Act could change the face of the cannabis industry as we know it. If passed, it would affect countless people whose lives have been ruined by the archaic and prohibitionist approach to non-violent cannabis offenses.
As the cannabis industry matures, insurance is becoming a major factor in its growth and normalization. In many respects, the development and availability of insurance products signals a new phase in the industry.
Federal law does not prohibit the sale of firearms to those arrested for domestic violence even though over half of female homicides occur at the hands of a current or former intimate partner. But if granny uses cannabis to treat her glaucoma, she can’t legally defend the homestead with her rifle?
Jobs in the legal cannabis industry are coming by the hundreds of thousands and there’s no sign of that halting.
The “wild west” days of manufacturing and selling cannabis products outside the sphere of regulatory influence are rapidly coming to an end.
The Department of Veterans Affairs has “an unpublished policy” stating that the office does not consider employment in industries related to marijuana as either reliable or stable. These are among the two most important criteria for determining creditworthiness and who qualifies to purchase a home.
Employers in most states still have the right to discriminate against cannabis users in pre-employment drug screenings. The exception is the state of Nevada, which passed legislation banning the disqualification of a candidate for employment based on cannabis use.
As anyone involved in the cannabis industry is aware, the US Food and Drug Administration (FDA) held hearings on May 31, 2019. Ostensibly, the hearing was about “Products Containing Cannabis or Cannabis-Derived Compounds”. In reality, it was about cannabidiol (CBD) in foods, cosmetics, and dietary supplements.
Hemp industry professionals want, (and more importantly consumers deserve) accountability, and a standard set of protocols that they can follow to ensure that hemp and CBD products are safe, and contain CBD in concentrations that match their labels.