It’s been an interesting journey so far, but one by one we’ve knocked down the obstacles in our way
Hemp and Hemp-CBD were Schedule I federally illegal substances in 2018
In the same category as Heroin
Congress was in our way
The DOJ was in our way
The DEA was in our way
The FDA was in our way
Hemp and Hemp-CBD in 2019 are now federally legal and completely removed from the Schedule of Controlled Substances
Congress made that happen
The DOJ is gone
The DEA is out of the picture
The FDA hasn’t changed their regulations yet, but they are well on their way to doing so
And in the meantime, they are permitting, with a wink and a nod, the CBD industry to thrive, and have been doing so since 2015 when their current regulations were first publicly announced
The most likely path forward is the FDA constructing a regulatory framework and passing it to Congress this summer, as stated by the FDA in March
So Congressional legislation, not traditional rulemaking, is how this looks like it will play out in 2019, as outlined in this interview with former head of the FDA Dr.Gottlieb:
In the meantime, with big food and big beverage on the sidelines, smaller companies like VATE & KGKG have a wide open field with minimal competition
So the potential for very serious revenue growth in the 2019-2020 timeframe is certainly there