Wealthcraft Capital

Regulatory

Hemp-CBD Pet Foods Are Everywhere But Are They Legal?

According to recent reporting, pet industry spending is expected to reach $96 billion by 2020 with CBD as one of its fastest growing sections. Following the enactment of the Agricultural Improvement Act of 2018 (“2018 Farm Bill”), there has been a huge interest in the use of hemp-derived cannabidiol (“Hemp-CBD”) for our furry friends. Yet, public demand for Hemp-CBD pet products may be pushing the market ahead regardless of legal requirements.

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Adam Sexton
Louisiana CBD Licensing Reveals Traditional Retail Chain Interest

The headline story of the last few weeks has been about the dangers of vaping. It has been the subject of news articles, editorials, and presidential pronouncements. As Cannabiz Media has been evaluating and measuring licenses across the country through the Cannabiz Media License Database, we’ve learned that some states have licensed the retailers and manufacturers of e-cigarettes in their states, and we also discovered that at least one state is regulating CBD retailing and wholesaling.

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Adam Sexton
McConnell Puts Pressure On FDA To Expedite CBD Rules

The senator most responsible for legalizing hemp is now trying to use a legislative finance maneuver to speed up federal rules on putting hemp extracts in food and beverages. Senate Majority Leader Mitch McConnell, a Republican from Kentucky, introduced new language that would require the U.S. Food and Drug Administration (FDA) to issue an “enforcement discretion policy and appropriate regulatory activities” on the sale of hemp-derived CBD products.

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Adam Sexton
NEW REPORT: U.S. CBD Sales in General Retail Forecast to Approach $13 Billion by 2024, More Than Double Dispensary CBD Sales

OAKLAND, Calif. , Sept. 12, 2019 /CNW/ -- The growing popularity and mainstream distribution of cannabidiol (CBD) across the United States is set to have a major impact on the sales of these products leading to a $20B market by 2024. Dispensary sales are projected to reach $5.3B , while general retail sales will make up $12.6B , and pharmacy sales will hit $2.2B , according to CBD: Cannabinoids Escape the Dispensary, a new report from Arcview Market Research and BDS Analytics.

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Adam Sexton
FTC Joins FDA in Sending Warning Letters to Companies Advertising and Selling Products Containing Cannabidiol (CBD) Claiming to Treat Alzheimer’s, Cancer, and Other Diseases

As part of its ongoing efforts to ensure that dietary supplements and other health-related products are advertised truthfully, and that efficacy claims made for such products are supported by competent and reliable scientific evidence, the Federal Trade Commission joined the U.S. Food and Drug Administration (FDA) in sending warning letters to three companies marketing products containing cannabidiol to treat and cure a variety of serious diseases and conditions.

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Adam Sexton