California Cannabis Hemp Act Of 2014 California Cannabis Hemp Act Of 2014: Fill & Download for Free

Cannabidiol (CBD) is one of the most popular chemical compounds derived from the cannabis plant. In 1970, all forms of cannabis were federally banned under the Controlled Substances Act. The U.S. government, therefore, failed to distinguish marijuana and hemp, despite hemp’s benefits and lack of psychoactive properties. However, legal and public consciousness surrounding hemp began to change, and the Agricultural Act of 2014 (often referred to as the “Farm Bill”) finally authorized state Departments of Agriculture and educational institutions to grow hemp for research purposes. The 2018 Farm Bill expanded upon this progress even more, federally legalizing hemp and hemp-derived products like CBD oil.So now that hemp is legal under federal law, does that mean that products derived from hemp like CBD and CBD oil are legal too? Now that the 2018 Farm Bill removed hemp from the list of schedule 1 substances, yes: CBD is legal as long as it is derived from hemp. Though they are tightly regulated by the FDA, products such as oils, edibles, and ointments that contain hemp-derived CBD are all federally legal. That said, CBD can also be derived from marijuana, which is still federally illegal. Furthermore, each state is different regarding the legality of cannabis cultivation and cannabis-related products. Some states have legalized all forms of cannabis use, where others have completely banned cannabis. Most, however, fall somewhere in between. There are currently ten states where both medicinal and recreational marijuana is completely legal, which are California, Nevada, Oregon, Washington, Colorado, Alaska, Michigan, Vermont, Massachusetts, and Maine. States that restrict all forms of cannabis use (both THC and CBD) include Nebraska, Idaho, and South Dakota. The majority of states, however, do permit cannabis use for medicinal purposes but do not allow any form of recreational use. States that restrict recreational use but allow for medicinal cannabis include Arizona, Montana, Utah, New Mexico, North Dakota, Minnesota, Oklahoma, Louisiana, Arkansas, Ohio, Florida, New York, New Jersey, and Pennsylvania, among others.When consuming CBD and other cannabis products, it is important to be mindful of where one’s CBD is coming from as well as the state laws on cannabis where it is being consumed. Additionally, many states are moving towards complete legalization of cannabis, which means that many state cannabis laws are likely to change in the near future.

Arcview Market Research and BDS Analytics have published the seventh edition of their "State of Legal Cannabis Markets" report.In regulated markets, U.S. cannabis sales surged by 20 percent in 2018 and are on track to jump by another 36 percent this year, the report said.$40B in sales by 2024The growth of the global cannabis market comes on the back of liberalization in existing markets and new countries introducing laws legalizing medical use.BDS Analytics and Arcview said Luxembourg, Mexico and New Zealand are at the forefront of legalization, alongside South Korea and Thailand, both of which recently approved medical cannabis. In Africa three countries -- Lesotho, South Africa and Zimbabwe -- have cannabis development programs. These countries and others will bring spending outside North America to $5.8 billion by 2024, up from $517 million last year, BDS and Arcview said.US leads the way.The U.S. remains to be the leader in terms of cannabis market size. The U.S. cannabinoid market is expected to soar, helped by a number of developments, such as the legalization of hemp via the 2018 Farm Bill.The "State of Legal Cannabis Markets" report estimates that the total cannabinoid market in the U.S. -- which includes hemp-derived CBD -- will reach $44.8 billion by 2024.The largest share of this market will be allocated to dispensaries that should be present in all states and U.S. territories by that time, BDS and Arcview said. It is followed in size by sales of CBD in both retail brick-and-mortar and online settings.Pharmaceuticals will get the smallest share, even though companies are spending heavily on developing new cannabinoid-based drugs following the approval of CBD-based Epidiolex from GW Pharmaceuticals plc.The growth in the U.S. markets will be boosted by more states legalizing cannabis, despite the federal illegality of the plant, the report said.The Strengthening the Tenth Amendment Through Entrusting States (STATES) Act would allow companies to operate more freely in legal states, while the SAFE Banking Act would allow banks to accept money from state-legal businesses.More money = more volatilityThe legalization of cannabis in more U.S. states, as well as full legalization in Canada last year, paved the way for more companies to be able to raise more money from investors.Cannabis companies raised $14 billion last year, which was more than twice the aggregate amount raised between 2014 and 2017, according to Viridian Capital Advisors.At the same time, more companies went public, which attracted more investors, but also increased the volatility.A number of Canadian cannabis LPs, such as Cronos Group Inc and Tilray Inc, listed their shares on NASDAQ in 2018.Companies in the U.S. went north and sought a listing on Canadian markets, led by Medmen Enterprises Inc, which listed its stock on the Canadian Securities Exchange in May.Overall, there are around 30 U.S. cannabis companies traded on Canadian exchanges, accoding to New Cannabis Ventures.Cannabis stocks also experienced a lot of volatility last year. NCV's Global Cannabis Stock Index lost 54.9 percent last year, even though it hit a multiyear peak in early 2018 following the legalization of adult-use weed in California.Volatility aside, investors should keep in mind that cannabis companies are no longer penny stocks, but are traded on major exchanges and are subject to stricter regulations and more transparency.At the same time, these companies are investing their funds into more assets; expanding their cultivation, processing, R&D and retail operations; and diversifying into new segments.What's nextOver the next few years, BDS Analytics and Arcview suggest there will be an increased pace of innovation in all segments of the cannabinoid market.The U.S. and other countries are exploring ways to facilitate interstate and international commerce and export and public consumption of cannabis. While CBD is gaining popularity in the U.S., other countries are keeping an eye on the Food and Drug Administration and how it plans to regulate CBD products.