CBD is mainstream — and this was before the 2018 Farm Bill had been signed into law and officially legalized hemp farming. Hemp is cannabis sativa with 0.3 percent or less THC, cultivated for fuel or fiber rather than delightful, terpene-laden smokable flowers. Since hemp is legal federally and CBD is not, hemp is the source material for the CBD sold openly in 50 states — and since hemp is now finally legal to cultivate in all 50 states, the CBD bonanza and attendant hysteria is set to reach a new and more fevered pitch.
The CBD hysteria is not new. Chemists have known for almost a decade about cannabinoid. The cannabis-industry figures have been touting the medical benefits of cannabidiol, which has psychoactive properties as well as medical benefits but without the familiar mind-bending punch of THC, Last year, the FDA approved CBD-based pharmaceutical drugs. Studies show that CBD does lower arthritis-related pain and inflammation indeed. The World Health Organization gave CBD a ringing endorsement when they observed the substance is almost undoubtedly benign; that is, there are no known health problems, “abuse or dependence potential” related to CBD.
So what’s the problem?
For one, not everyone selling CBD is good. Some CBD-pushers are very bad and have been reprimanded by the FDA for marketing products they swear will cure cancer. There is also the potential for lasting psychological damage — that is, a ruined reputation. For most of its salespeople, CBD is nothing more than a handy and buzzy marketing tool du jour, the acai berry or pomegranate juice of the moment.
From our perspective, cannabinoid does have real potential that requires careful study and mindful application. Applying our Subjective Probability+Game Theory Model (SP+GTM), the industrial hemp market should be worth $11.1 billion by 2025.