420 with CNW — The DEA Wants Delta-8 Banned, CBD Severely Restricted
While delta-9 tetrahydrocannabinol (THC) and cannabidiol (CBD) are the most publicly known cannabinoids, cannabis produces more than 100 different cannabinoids. Delta-9 THC is the main psychoactive agent in cannabis, and it is illegal at the federal level and in states that do not allow recreational or medical cannabis sales.
In recent years, players in the cannabis industry have turned to another psychoactive cannabinoid called delta-8 THC. The result has been an influx of delta-8 THC products even though the FDA has not evaluated or approved such products as safe for public consumption. The labeling on these products often contains misleading claims, the FDA says, and the products are often marketed for medical or therapeutic uses that aren’t approved by the appropriate authorities.
Delta-8 THC products have become incredibly popular in states without recreational cannabis markets because they allow users to experience psychoactive effects without buying black-market cannabis. Cannabidiol (CBD) has also enjoyed significant growth in recent years based on claims of its medical potential, achieving a net worth of $5 billion only a few years after the 2018 Farm Bill legalized the cultivation and sale of industrial hemp and its derivatives.
The U.S. Drug Enforcement Administration is now looking to rein in this runaway market by amending federal drug laws to completely remove delta-8 THC products from the market and significantly restrict the country’s young CBD industry. Both CBD and delta-8 THC slipped through regulators’ hands because they are technically legal under the farm bill, which legalized industrial hemp and its derivatives.
Most of the CBD on the market is extracted from industrial hemp, which is essentially cannabis with minimal levels of delta-9 THC, while delta-8 THC is derived from CBD through chemical processes.
Several states have already moved to regulate or outright ban the sale of cannabinoids such as delta-8 because we have scant information on their potential benefits and risks. Currently, 14 states outlaw the sale of the substance. The DEA wants to go a step further and propose legislative changes that would make synthetically manufactured cannabinoids such as delta-8 THC controlled substances.
This type of legislation would immediately make every delta-8 product illegal while significantly “transforming the market for CBD products,” says Shane Pennington, an attorney at marijuana-focused law firm Vincente LLP.
If the DEA actually follows through on making these legislative changes, it would likely take years before the process is complete and the changes are announced. The agency will open a comment period to give stakeholders and business owners a chance to comment on the changes.
As the DEA moves to only allow natural cannabinoids to be commercialized in the states where marijuana is legal, more opportunities may become available for cannabis companies and related companies such as Advanced Container Technologies Inc. (OTC: ACTX) may do more brisk business as a result. This is because only legally permitted products adhering to the established regulations will be allowed on the market, thereby giving cannabis growers a better chance of succeeding.
NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer
While delta-9 tetrahydrocannabinol (THC) and cannabidiol (CBD) are the most publicly known cannabinoids, cannabis produces more than 100 different cannabinoids. Delta-9 THC is the main psychoactive agent in cannabis, and it is illegal at the federal level and in states that do not allow recreational or medical cannabis sales.
In recent years, players in the cannabis industry have turned to another psychoactive cannabinoid called delta-8 THC. The result has been an influx of delta-8 THC products even though the FDA has not evaluated or approved such products as safe for public consumption. The labeling on these products often contains misleading claims, the FDA says, and the products are often marketed for medical or therapeutic uses that aren’t approved by the appropriate authorities.
Delta-8 THC products have become incredibly popular in states without recreational cannabis markets because they allow users to experience psychoactive effects without buying black-market cannabis. Cannabidiol (CBD) has also enjoyed significant growth in recent years based on claims of its medical potential, achieving a net worth of $5 billion only a few years after the 2018 Farm Bill legalized the cultivation and sale of industrial hemp and its derivatives.
The U.S. Drug Enforcement Administration is now looking to rein in this runaway market by amending federal drug laws to completely remove delta-8 THC products from the market and significantly restrict the country’s young CBD industry. Both CBD and delta-8 THC slipped through regulators’ hands because they are technically legal under the farm bill, which legalized industrial hemp and its derivatives.
Most of the CBD on the market is extracted from industrial hemp, which is essentially cannabis with minimal levels of delta-9 THC, while delta-8 THC is derived from CBD through chemical processes.
Several states have already moved to regulate or outright ban the sale of cannabinoids such as delta-8 because we have scant information on their potential benefits and risks. Currently, 14 states outlaw the sale of the substance. The DEA wants to go a step further and propose legislative changes that would make synthetically manufactured cannabinoids such as delta-8 THC controlled substances.
This type of legislation would immediately make every delta-8 product illegal while significantly “transforming the market for CBD products,” says Shane Pennington, an attorney at marijuana-focused law firm Vincente LLP.
If the DEA actually follows through on making these legislative changes, it would likely take years before the process is complete and the changes are announced. The agency will open a comment period to give stakeholders and business owners a chance to comment on the changes.
As the DEA moves to only allow natural cannabinoids to be commercialized in the states where marijuana is legal, more opportunities may become available for cannabis companies and related companies such as Advanced Container Technologies Inc. (OTC: ACTX) may do more brisk business as a result. This is because only legally permitted products adhering to the established regulations will be allowed on the market, thereby giving cannabis growers a better chance of succeeding.
NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer
