You might say the first wave of the CBD stampede happened
with the advent of entrepreneurs who imported CBD hemp oil from Europe and
China. As already stated, this had mixed results and was mostly over by the
passage of the 2014 Farm Bill. Nevertheless, public interest in CBD oil
continued to group rapidly. And then the second watershed event occurred.
On Dec,
20th, 2018 President Trump signed into law the 2018 Farm Bill. This
bill seemingly cleared up all legal ambiguities surrounding hemp. It removed
hemp (as long as it contained no more than 0.3% of THC) from the controlled
substance list. Hemp was finally not under the jurisdiction of the DEA. The
2018 farm Bill stated, in no uncertain terms, that CBD products derived from
hemp were federally legal. It blew the doors off. Demand was unprecedented. CBD
was featured on virtually every news outlet. The 2018 Farm Bill also put CBD
squarely under jurisdiction of the FDA, but CBD was still not totally in the
clear.
The
majority were selling inferior CBD products tied to outlandish health claims. Nevertheless,
there were difficult to compete with because they had no qualms about crossing
the line. There was also an increasing number of legitimate CBD companies
entering the market selling solid CBD products. Second, competitors’ knowledge
about how CDB actually worked with respect to the endocannabinoid system (ECS)
was shockingly limited and usually erroneous. This was to be expected from the
CBD hype companies desperately trying to was in the “CBD Fad”. But what was not
expected was legitimate CBD companies also displayed a serious lack of
knowledge about the ECS.
