Skip to main content

Lack Of Regulation Stunts Growth Of New York State's Legal CBD And Marijuana Industries

New York State is anxiously awaiting legalization of adult recreational marijuana and regulations for CBD in food and drink.

New York Gov. Andrew Cuomo speaks about the $175.5 billion state budget during a news conference in the Red Room at the state Capitol Sunday, March, 31, 2019, in Albany, N.Y. (AP Photo/Hans Pennink)

ASSOCIATED PRESS

Legalized marijuana won’t be in New York’s annual state budget, Gov. Andrew Cuomo announced Friday. Many expected it to be part of the budget that’s expected to be confirmed tomorrow.

The details will be negotiated before the session closes in June, Cuomo said.

The air was hopeful at the recent Women in Cannabis conference, where policy experts, writers, growers and potential growers cheered at discussions about the April 1 deadline. Experts said they expected some version of the proposal to move forward.

In this Feb. 14, 2019 photo, Colton Welch, a junior at the State University of New York at Morrisville, N.Y., tends hydroponic tomato plants which will provide students with data applicable to cannabis cultivation. The college’s new minor in cannabis studies is among a handful of new university programs aimed at preparing students for careers in marijuana and hemp industries. (AP Photo/Marry Esch)

ASSOCIATED PRESS

Passionate advocates like Mary Pryor, co-founder of Cannaclusive, and Kassandra Frederique, New York State Director of the Drug Policy Alliance, emphasized the need for equity programs in the legislation, ensuring women, POC and people who currently deal marijuana have access to business opportunities.

The CBD market in the U.S. could represent $16 billion by 2025, according to a recent report by Cowen. Still, the prominence of CBD in food and drink, and the crackdown of its use in cafes, bars and restaurants, has confused some consumers. CBD served in food and drink is still illegal, according to the FDA.

Meanwhile, topical CBD products have arrived in two major drugstore chains, CVS and Walgreens, both announced this month. Sephora, Ulta, Neiman Marcus and others already carry CBD products.

Lawmakers need to set standards for CBD products, so the industry can create better products, educate consumers and ease them into buying and using CBD properly.

The U.S. Hemp Authority Seal is a start, but doesn’t hit all the points of entry to the CBD market: from skincare to water to gummies to unregulated, low-quality CBD sold online and in bodegas.

CBD has become popular in Italy and Switzerland, but can have higher THC content, 0.6% in Italy, and 1% in Switzerland, respectively. In the U.S. a CBD product can contain 0.3% THC maximum to be considered legal.

Recently resigned FDA Commissioner Scott Gottlieb said it could be years before adequate regulations are in place for CBD food and drink. For now, Dr. Ned Sharpless, head of the National Cancer Institute, is acting FDA commissioner, which may become permanent.

Conscious marijuana and CBD consumers demand an inclusive industry that educates people on safe, effective dosing.

Conscious marijuana and CBD consumers demand an inclusive industry that educates people on safe, effective dosing. Let’s hope regulation makes its way to the forefront so marijuana and CBD can help heal more people in a natural, safe, non-addictive way.

Original Article Source: https://www.forbes.com/sites/bethkaiserman/2019/03/31/new-york-state-cbd-marijuana/

Comments

Post a Comment

Popular posts from this blog

Could CBD Lead To The Development Of Safer Antipsychotic Medications?

Antipsychotic medications are important for managing a number of different psychiatric ailments, including bipolar disorders, schizophrenia, and even dementia. These drugs can greatly improve the manageability of symptoms that often distort one’s experience of reality. They can also create major mood disruptions and lead to a number of behavioral and emotional difficulties. Antipsychotic and anti-psychosis medications can be life-changing for people with such disorders, enabling them to live more normal and manageable lives without their symptoms taking over. These drugs work by regulating neurotransmitters in the brain so that naturally occurring imbalances and dysfunctions no longer disrupt mental and emotional processes. Often, reaching this outcome is much easier said than done; it can take a lot of time to find courses and combinations of treatments that work. It’s sometimes necessary to make adjustments to find the right balance for the individual and it’s not unusual for outc...
Post a Comment
Read more

Cannabis Watch: Canopy Growth To Book Charge Of Up To $568 Million As Marijuana Restructuring Continues

Canopy Growth Corp. said early Thursday it was halting a range of operations across three continents and expects its restructuring plans to result in a charge of up to C$800 million (567.9 million) in the fiscal fourth quarter. U.S.-traded shares US:CGC CA:WEED of the cannabis company fell 1.9% in afternoon trading. Canopy said it was selling operations in Africa, curtailing cultivation of hemp in the U.S. and Columbia, and shutting down an indoor production facility in Canada. The announcement will result in 85 job cuts, the company said. “When I arrived at Canopy Growth in January, I committed to conducting a strategic review in order to lower our cost structure and reduce our cash burn,” Canopy Chief Executive David Klein said in a statement. Read: As cannabis industry stays largely quiet on coronavirus, this CEO has been sounding the alarm Canopy’s restructuring announcement was expected by investors, Cowen analyst Vivien Azer wrote in a note to clients Thursday. Azer rate...
Post a Comment
Read more

Can Medical Marijuana Help Aging Parents With Dementia?

For decades, marijuana, even for medical uses, was demonized or questioned.  When states like Colorado legalized it for recreational use, more studies began to determine provable efficacy for its use as a medicine. The Federal government still classifies marijuana the same way it classifies heroin: harmful and with no medical benefits. Now we can see that this is wrong. When states legalized marijuana, referred to as cannabis here, they had an interest in getting data to see what good it could do. Proving efficacy could increase medical marijuana sales, benefit people who might at least find some medical use, and overall would bring tax dollars into the state coffers. Without funding studies, the Federal government has done very little to demonstrate what good cannabis can do. After all, if the presumption is that it helps nothing, there would be no motivation to determine with scientific data that it does anyone any good. But we have convincing data now about its beneficial use ...
Post a Comment
Read more