THE SIGNIFICANCE OF THE DEA LEGALIZATION OF CBD
We have a pair of historic catalysts that remain just ahead
I’ve written extensively about Mitch’s Hemp Farming Act of 2018 that is currently incorporated into The 2018 Farm Bill, so I’m going to dedicate this post to the DEA’s upcoming Legalization and Rescheduling of CBD
#1: DEA LEGALIZATION (RESCHEDULING) OF CBD — within days
The DEA is forced to Reschedule MJ-derived CBD because on 6/25/18 the FDA approved Epidiolex (MJ-derived CBD) for clinical use — by law, they have 90 days from 6/25 to do so
Epidiolex has received approval for 2 indications thus far — Dravet Syndrome and Lennox-Gastaut Syndrome, both of which are congenital seizure disorders
The DEA is likely to move CBD from Schedule I to Schedule III/IV
I’ve seen some reports about Schedule II and Schedule V as well
Adderall, which has a clear track record of abuse potential in certain individuals, is Schedule II
CBD does not belong on the same Schedule as Adderall
Schedule V would be great, but I don’t think the DEA will go that far — it is simply too close to being unscheduled, which is exactly where the current data says it should be because it has not been reliably shown to have any significant potential for abuse nor dependence
But by placing CBD somewhere in the middle of the Schedule, the DEA is protecting big pharma and continuing to stymie progress in the medical acceptance of cannabis by not fully pulverizing the stigma of MJ as an addictive drug used predominantly for recreational purposes
So what’s so positive about the DEA moving CBD from Schedule I to Schedule III/IV?
Almost everything about it — please don’t misinterpret my skeptical view of the DEA’s treatment of cannabis and CBD with the historical importance and economic ramifications of this catalyst
By moving CBD from Schedule I, which means a substance has a high degree of abuse and dependence potential AND has zero medical value — think federally illegal recreational drugs like Heroin, PCP — to Schedule III/IV (think many prescription sleep aids) — CBD now moves from the category of illegal drug to a legal medicine with a low degree of abuse potential
The federal government is finally admitting that a constituent of cannabis, in this case the cannabinoid CBD, has bona fide medical value, which immediately differentiates it from stuck on Schedule I Medical Marijuana (THC + CBD)
The billion dollar question about the DEA’s legalization and rescheduling of CBD is as follows:
How will this impact the actual marketplace demand and acceptance (and perceptions of it) for CBD-based consumable products (food and drink) and non-prescription CBD Oil Medical/Wellness Products?
My view is that it will have a very favorable effect overall
Insofar as garnering extensive media coverage and attention, the DEA’s Legalization and Rescheduling of CBD also has excellent potential
Therefore, the potential significance of this catalyst for The Hemp & CBD Sector in general, and CANB in particular, is enormous
#2: CONGRESSIONAL LEGALIZATION AND COMPLETE DESCHEDULING OF HEMP (INCLUDING CBD) VIA THE 2018 FARM BILL — within weeks
I will have a lot more to say about this moving forward, but suffice it to say that this will remove any and all lingering concerns regarding the Hemp & CBD Beverage and Medical/Wellness CBD Oil economy in America
CANB
Sleek
