On 4 December 2018, the United States launched a real revolution in the cannabis industry. A new agricultural law signed by Donald Trump has legalized the production of hemp with a tetrahydrocannabinol (THC) concentration not exceeding 0.3% at the federal level. This led to an explosion in CBD products, particularly untested products on the grey market. This has damaged consumer trust in CBD but companies like West Coast Ventures Corp. (OTC: WCVC) are fighting to build the nascent industry’s credibility.
West Coast Ventures Corp are America’s first CBD restaurant stock. Unlike many other CBD companies WCVC has all of their lab results published online. Their Ilegal Brands CBD water, for instance, has zero sugar and added calories and 10 MG of CBD, making it one of the best products available on the market today.
Rush to green gold
Across the Atlantic, CBD is now everywhere. Cosmetics, candies, bath salts, chocolate, beer, dog products: almost all the everyday consumer goods you can think of are available in CBD-infused versions. The sudden and massive growth of the sector is even compared to a new gold rush.
The industry is already estimated to be worth $1 billion. According to some analysts, it could reach 24 billion dollars (21.6 billion euros) by 2023, thanks to the arrival of mainstream players on the market. CVS and Walgreen, the country’s two largest pharmacy chains, have already taken the plunge.
The message is simple: CBD is a miracle product that has been unfairly banned for too long. And now that this green gold is totally legal, everyone can enjoy its benefits.
To spread their good word, producers are pushing the standardization agenda to the limit, opening stores in shopping malls and moving away from the traditional image of the weed – violent dealers and high teenagers.
Curaleaf, one of the leaders in the sector, could be the site of any cosmetics brand. Sleek design, light tones, the company wants to show that it is a wellness brand like any other.
The CBD industry’s strong argument remains its effect on health, for which advertisers do not have words strong enough to praise. From headaches to cancer, menstrual pain, insomnia or epilepsy, the virtues of CBD are limitless.
Dr. Doxey’s CBD
Listening to them, CBD is therefore not only a perfectly legal product, but also beneficial in every respect. However, these statements are questionable at best. The FDA, the federal agency responsible for authorizing the marketing of food and drugs, strongly nuances them.
On July 17, the FDA called for mistrust and said that while CBD was not strictly speaking illegal, among the thousands of products on the market, it had officially approved only one, a drug for a rare and severe form of epilepsy.
Despite its proven beneficial effects, CBD could cause adverse side effects. FDA research on this subject is ongoing but requires lengthy and thorough testing, far from complete.
In the meantime, thousands of products are on the market. The agency, which cannot test them all, is pursuing a laissez-faire product while forcing companies to stop promising anything.
Sellers of the product are regularly accused of inflating the merits of the molecule. The worst of them are even compared to the charlatans who scoured the Wild West in horse-drawn carriages to conceal fake miracle elixirs.
Grey market CBD is unsafe
It is true that in the midst of a product avalanche, many untested CBD products that lack official lab results have THC levels above the maximum allowed, display false CBDs or contain toxic products.
This is why it is important for anybody who wishes to consume CBD to do so through only regulated retailers who are willing to display their lab results, such as Illegal Brands CBD. It is even better if you can do so from a brick and mortar location, like Illegal Burger, or Illegal Pizza, restaurants, as then you can be sure that the product is legitimate.