It’s a well-known and commonly used drug by many. However, it’s still not legalized in every state. However, the conversation is on the table to discuss options for legalizing marijuana at a federal level, impacting everyone in each state.
Currently, many states in the U.S. have now legalized marijuana for medical and recreational use. However, according to federal law, the possession of marijuana (cannabis) is still illegal in the U.S., except within approved research settings.
It’s gaining rapid attention from investors, manufacturers, and researchers alike. More and more people each day are accepting the reality and idea of legalizing marijuana across the U.S. It is worth pausing to think about and if marijuana legalization will affect CBD production and, if so, in what way.
Marijuana Being Legalized & What it Means
The reason marijuana legalization is even being discussed in the first place is that there are changing attitudes toward pot in general. People are learning more about the drug and its benefits, especially when it comes to medical purposes. The stigma behind it is slowly deteriorating and fading away, and it’s making its way into the mainstream.
Marijuana has been used as a medicine in different cultures for thousands of years. Significant policy reform has never been more possible. At this point, legalizing marijuana is a scenario that’s likely to unfold and occur. The current discrepancy between federal and state law is causing a lot of confusion and frustration within the industry.
It means that there is likely to be an explosion of marijuana products, which brings about questions and inquiries about what the industry might look like in the future. Large corporations may flood the market with cheap and generic options and products.
Various Uses of Marijuana
A total of 35 states and the District of Columbia have legalized marijuana for medical use, 15 of which allow adults to legally use the drug for recreational use as of November 2020. States like C.A. are anticipating the growth and legalization process and are even putting a cap or limit on the size of marijuana farms.
Marijuana is a psychoactive or mind-altering recreational drug for specific medical ailments and religious and spiritual purposes. The main active chemical in marijuana is THC (delta-9-tetrahydrocannabinol), the psychoactive ingredient. When inhaled, a feeling of a relaxed state, euphoria, and an enhanced sensory perception may occur. With higher THC levels in those not used to the effects, some people may feel anxious, paranoid, or have panic attacks.
As of November 3, 2020, 35 U.S. states, the District of Columbia, Puerto Rico, and Guam now legally allow marijuana for personal medical use. The first state in the union to legalize the medical use of marijuana was California in 1996 with Proposition 215. States that allow medical marijuana include: Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Hawaii, Illinois, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Utah, Vermont, Washington, and West Virginia, plus the District of Columbia, Puerto Rico and Guam.
As of November 3, 2020, the states or districts where recreational use of marijuana is legal are Alaska, Arizona, California, Colorado, Illinois, Maine, Massachusetts, Michigan, Montana, Nevada, New Jersey, Oregon, South Dakota, Vermont. These states allow marijuana possession, growing, and consumption; retail sales approved but not yet active pending subsequent legislation. Washington State and Washington, D.C. allow marijuana possession, growing, and consumption; the sale of marijuana for recreational purposes remains illegal; there are seven medical dispensaries.
Differences between Marijuana & CBD
Cannabidiol or CBD is a natural compound found in cannabis plants that is non-psychoactive. It won’t make you high if you use it. Under the current U.S. Food and Drug Administration’s (FDA) rules, all drugs containing CBD, a Schedule I substance, require the agency’s approval. You may find the ingredient in any one of the following forms or products:
· Oral sprays
· Edibles like gummies and lollipops
Many people are searching for terms and products such as these on the Internet. Forecasts for the CBD market will stand by their notion that this isn’t just a momentary wellness craze.
CBD is used to help with other various conditions, such as:
· Psychosis or mental disorders
· Inflammatory bowel disease
Marijuana (cannabis) is a green, brown, or gray mixture of dried, shredded leaves, stems, seeds, and flowers of the hemp plant Cannabis sativa. High THC use may be connected to long-term adverse psychiatric effects. This is especially true for teens who consume large amounts of THC.
THC is used to help with the following:
· Muscle spasticity
· Low appetite
Affect on CBD Production & Sales
National hemp legalization means large consumer packaged goods companies can enter the CBD market by adding “now with CBD” to existing products. It is expected that U.S. consumer sales of cannabidiol (CBD) will reach around 1.8 billion U.S. dollars by 2022, which would represent a significant increase from around half a billion U.S. dollars in 2018. Following a similar trajectory, sales of legal cannabis in the U.S. are projected to hit 23 billion U.S. dollars in 2025. While there may be roadblocks or setbacks along the way, there’s too much momentum going on with CBD for the industry not to take off and in a big way.
There is also a technology movement going on within the weed and CBD industries. Companies are creating platforms to ship products to almost all the states. Consumers want their marijuana or CBD products on-demand, and the big players in the industry are listening and responding to this need.
The talk around legalizing marijuana has brought about many questions regarding the CBD and marijuana industry’s state. There are various benefits and uses for both, and they continue to spark people’s interest. The consensus seems to be that there is and continues to be a high-demand for CBD-related products, and companies should be prepared for the growth.