The marijuana industry is only getting worse

As if the marijuana industry wasn’t reeling enough with $75 ounces in multiple states, Akerna’s demise on NASDAQ, and MSO Curaleaf’s withdrawal from highly competitive markets like California and Colorado, more bad news hits the industry, this time from government page . It’s devastating news for those who love CBD products. The Food and Drug Administration has stated that these items made from cannabis or hemp may not meet federal safety regulations. These safety regulations affect a wide range of products, from soap to seltzer, and require stricter monitoring.

The news was a major setback for the fast-growing CBD industry, as hopes of FDA approval were dashed. Instead, the agency has appealed to Congress to introduce new regulations to regulate the use of CBD.

An FDA official said there are concerns about the safety of including CBD in foods and supplements. The legal safety standards for such items are incredibly strict, and it remains to be seen how CBD could meet these strict requirements.

Concerns about cannabis-infused foods and dietary supplements

The FDA has sounded the alarm about CBD use because of various safety concerns that may arise from prolonged use. In their statement, they referred to studies that indicate possible damage to the liver and male reproductive system and dangerous drug interactions. Additionally, the agency warned that exposure to CBD could pose risks for vulnerable groups like children and expectant mothers.

The 2018 Farm Bill legalized hemp, but the legality of hemp-derived CBD was still up in the air. This is because CBD can come from both hemp and cannabis, but if a hemp plant contains more than 0.3% THC (the compound responsible for the “high” in marijuana), it will be classified according to the Farm Bill considered a marijuana plant. Classification was convoluted, and experts predicted regulations would take years to create and implement.

Essentially, the federal government has yet to determine whether using CBD in food or beverages is safe for humans or animals. The Federal Food, Drug, and Cosmetic Act prohibited the addition of approved drugs to human or animal foods that are traded across state lines. As a result, using CBD in food and beverages remains illegal.

Criticism of the FDA’s decision.

Despite the lack of official approval, CBD products have taken the market by storm, from energy drinks and sparkling water to topical creams and tinctures — even pet food. Industry forecasts project that the global CBD market will reach $1.25 billion by 2024, with thousands of CBD-infused products available online. However, the FDA’s current stance could mean a pause in the distribution of CBD products.

As expected, the FDA’s decision drew criticism from food industry stakeholders and experts. US Hemp Roundtable General Counsel Jonathan Miller said in a statement that the FDA missed the mark on the safety of CBD. He saw the agency’s intention to enforce stricter regulations as “unprecedented and unjustified”. Nonetheless, he supported a legal solution that would allow CBD to be marketed in dietary supplements and edibles.

Alex Buscher, a Colorado-based attorney who provides legal advice to hemp companies, also made some interesting comments. He explained that CBD does not appear to be any more dangerous than other supplements, which have the potential to cause side effects if taken in excess of the recommended dose. “The FDA is deferring the decision to a fragmented Congress, which will take time to establish a new regulatory regime,” he said. “We need concrete regulation from the FDA.”

Food safety experts have argued that the FDA is in an untenable position as more states have decriminalized marijuana (which remains illegal under federal law) and related products have gained widespread appeal. According to the National Conference of State Legislatures, 37 states and territories have legalized the use of medical marijuana as of February, and 21 states and territories have decriminalized recreational use as of Nov. 9. This state legalization is a clear indication of a change in opinion.

“I believe the FDA understood that whichever direction they took, they would face an uphill battle if they tried to put the genie back in the bottle, and that would inevitably lead to political chaos,” he said the director of food policy for consumer reports, Brian Ronholm. “It is not surprising that they sought refuge by appealing to Congress.” The executive director of the Center for Science in the Public Interest, Peter Lurie, described the FDA’s appeal to Congress as “passing the buck.” However, he also pointed out that due to the legal CBD-based drug Epidiolex, which is used to treat a severe form of epilepsy, the FDA’s hands are tied in expanding access to the substance. Federal law prohibits the use of active ingredients in prescription drugs as food additives.

As support for cannabis regulation reaches a boiling point, National Cannabis Industry Association CEO Aaron Smith emphasizes the need for Congress to engage and provide clear guidance for all cannabis-derived products. He explains that the FDA’s recent announcement only underscores the urgency for Congress to take action and address the legal status of products derived from the cannabis plant, which has already been legalized in several states, providing a clear direction for the cannabis industry.

Conclusion

The FDA’s announcement of regulation of CBD-infused products has sparked a storm of criticism and disagreement, with many calling for clearer and more concise regulations to be put in place. Despite its growing popularity, the long-term safety concerns surrounding CBD and its ability to meet federal safety standards have yet to be resolved. The hemp industry, hoping for the agency to give the green light to use CBD, has now been forced to take a step back. The appeal for Congress to draft new regulations has sparked discussions about the future of the burgeoning CBD market and the legal status of hemp-derived products. As public sentiment shifts toward decriminalizing marijuana and related products, it remains to be seen what direction Congress will take in regulating this fast-growing industry.

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