Although it is quite a divisive product, cannabidiol has taken the world by storm. The compound has proven itself as one of the most powerful and versatile natural medicines seen in years, if not decades. Backed by plenty of anecdotal evidence, CBD is said to be effective against a variety of conditions ranging from chronic pain, anxiety and depression to high blood pressure. For the past year, the CBD industry has seen unprecedented growth in both demand and supply. This comes after the December 2018 Farm Bill that legalized the cultivation of industrial hemp, the plant that produces cannabidiol. Last week, after pressure from stakeholders and interested parties, the USDA finally passed its interim final regulations for the hemp industry.
However, as states and tribes are reviewing and working on implementing the new regulations, the state of New York still remains in a state of uncertainty. A bill that would regulate CBD has already been passed by the State Legislature but Governor Andrew Cuomo hasn’t acted on it yet. The Senate sponsor of the bill, Jen Metzger, a Democrat from the Hudson Valley says that right now, the CBD market is like…
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