In an effort to explore the potential health benefits of hemp and how hemp can be used in skincare products, the US Department of Agriculture announced on Tuesday that it would be collaborating with an Illinois-based Midwest Bioprocessing Center (MBC).
While reports related to CBD are still in their early-stage, many people have claimed that CBD-infused products helped them control symptoms of ailments like anxiety, depression, insomnia and even cancer. However, despite the increasing popularity of CBD products, there's no hiding that the CBD industry is highly unregulated and choosing the best brand can sometimes be exhausting.
With the passing of the Senate bill legalizing adult-use cannabis in New York City, there might be a sudden increase in the hemp operators to the high-THC side of the industry. Being considered as the first in the nation attempt to legalize and regulate the cannabis industry, New York Governor Andrew Cuomo signed the bill on March 31st.
New York City's Governor Andrew Cuomo has finally passed the long-awaited Marijuana Regulation & Taxation Act (MRTA) on March 30. With 43-20 voting by the assembly, Gov. Cuomo shared that the passing of MRTA will finally put an end to harsh prison sentences, prioritize marginalized communities and massively affect the growth of the cannabis industry in New York.
With the reintroduction of The Secure and Fair Enforcement (SAFE) banking act, conducting financial transactions in the marijuana industry might become a lot easier. Although the journey of legislation has been around since 2015, the SAFE Banking Act was reintroduced by Sen. Jeff Merkley and 30 other co-sponsors this week.
As the scientific shreds of evidence of the therapeutic properties of CBD are coming to light, the industry is sure to witness some relevant changes in the coming years. With the increasing popularity and enhanced awareness, CBD products have gained quite a momentum in the market, and here are 5 major predictions for the CBD industry in 2021.