California is a very unique state
It’s a huge MJ state, which creates a few issues
1) The tax revenues coming from dispensaries are really important for government revenue
CBD revenue from dispensaries is projected to fall when CBD products can be bought in any store, so that’s a strike against allowing it
In addition, the tax revenues from dispensaries are already well below expected due to the huge black market, so this has placed this issue under a microscope
2) The MJ industry has complained that CBD products from hemp should require the same type of testing, oversight and compliance that CBD products from MJ currently require — the hemp industry disagrees
3) MJ growers don’t want the risk of cross pollination with Hemp
4) We are 1 month away from the FDA announcing their regulations and recommendations — so it’s pretty late in the game for this, might as well just wait to see what the FDA says at this point
In the end, this will undoubtedly pass, but I think January (which is what the bill’s sponsor is saying now) makes a lot more sense
Given all of that, it’s still weird that Texas has a more liberal Hemp-CBD policy than a state like Cali
CBD products from hemp are selling all over California anyway, just like in most states that have imposed a ban — state enforcement is pretty lax — nobody really wants to crack down on CBD — not the FDA, not States — because there is no real safety issue
This is where CBD and THC are very different cannabinoids, and why the FDA only has eyes for Isolate
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