Congress Already Moving on Marijuana Legislation

Members of the 116th Congress were sworn in today, and a few wasted no time introducing a bill for medical marijuana reform.

Steve Cohen (D-TN) and Don Young (R-AK) re-introduced the Compassionate Access, Research Expansion and Respect States (CARERS) Act. The bill aims to allow states to set their own medical marijuana policies and permit doctors with the Department of Veterans Affairs to prescribe medical marijuana to veterans to treat serious and chronic conditions. It does not address the issue of federal legalization, but embraces the seemingly popular idea on the Hill that states should create their own marijuana policy.

It will be interesting to see how many members cosign onto the bill. With pressure mounting to reschedule cannabis, this bill does not go far enough for most advocates. Still, it is a solid start in the push for better research involving cannabis. There are huge opportunities on the horizon for hemp and marijuana companies looking to create products for patients with chronic diseases and serious ailments.

CBD in the New Year

Since the passage of the farm bill and more states embracing sensible cannabis policy, CBD has been a central topic of discussion for the media, health care providers, and consumers. Products focused around the multiple benefits of CBD will continue to flood the market, so what makes a particular brand more successful?

The key will be engagement with the consumer base. A simple online search results in thousands of products addressing common ailments such as dry skin or chapped lips. So how does a consumer, or rather a patient, know what product to try? It all comes down to savvy marketing and word of mouth. I have purchased some brilliant CBD products to address the side effects from an autoimmune disease that was recommended to me by a friend. Since then, I have shared these products with my network. Companies producing CBD products will be relying on these types of marketing tactics this year as more competition enters the market.

I’m skeptical of celebrity endorsements, despite their initial pizazz, may backfire for brands seeking to truly define themselves as providing an effective quality product. There will be plenty of companies jumping on the CBD bandwagon, but few will truly distinguish themselves by unlocking the holistic qualities of CBD to benefit patients inflicted with a variety of illnesses.

As both an attorney and rare disease patient, I am anxiously monitoring CBD product lines to see who will create the next product to improve my quality of life. I believe 2019 will be the year that CBD is found in most Americans’ medicine cabinets.

Hemp Legalization is on the Horizon

With a lame duck Congress looking to finish strong at the end of 2018, Senate Majority Leader Mitch McConnell made headlines last week when he said he wants Hemp legalized before the end of the year. With his home state of Kentucky set to benefit from this shift in policy, McConnell is pushing forward.

What does this mean for those in the Cannabis industry? Expect a boom in Hemp based merchandise, particularly clothing and health products touting the benefits of CBD. One area of opportunity for many companies will be CBD pet products, especially creams, shampoos, and dietary supplements that address anxiety and skin allergies.

So how can your company take advantage of Hemp? Depending on your industry, you have a variety of options. Our firm is dedicated to assisting businesses looking to develops brands centered around Hemp based products. From establishing corporations to bringing products to market, if you’re interested in Hemp, now is the time to act.

2019 is shaping up to be a huge year for Hemp and Cannabis based products. It is crucial to begin planning for your business needs now to guarantee success.