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.

Cannabis On The Ballot

Tomorrow is a big day for the Cannabis industry as voters in four states head to the polls. North Dakota and Michigan have full legalization on the ballot, while Utah and Missouri will consider medical marijuana.

The Trump administration was seeking public comment on marijuana reform, and we can expect to hear about a potential shift in federal policy before Spring. We remain optimistic that President Trump will stick to his word and remove Marijuana as a Schedule I drug.

For now, a federal overhaul on cannabis will likely follow the path of Right To Try. Numerous states took the initiative to pass their own versions of what is now federal law. It is looking like marijuana will have to start with a majority of the states approving some sort of program- whether it be medical or full legalization, before Congress will act.

The results of tomorrow’s election should give us some clues into future marijuana legislation on the horizon in 2019.