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Navigating the SPAC Trend in the Cannabis and Hemp/CBD Market

October 22, 2020
AggregatedNews
Banking, Finance & Real Estate, Hemp Policy & Legal
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Special Purpose Acquisition Companies (SPACS) have had increased activity in the cannabis and hemp/CBD industries over the past year. Presently, these “blank check companies” have raised more than $3 billion. Investors and operators interested in partaking in these vehicles and…

CBD Cosmetics: Unregulated, Yes. Risk-Free, No.

By Nathalie Bougenies, Attorney at Harris Bricken It is well known by now that CBD-infused cosmetics represent the lowest level of risk for businesses. Indeed, CVS, Walgreens and Sephora are only a few of the major national retailers that now…

Why Voting Yes to Cannabis Will Help States’ Pandemic-Stricken Economies

October 8, 2020
Smoke Wallin
Hemp Business Executive, Hemp Policy & Legal, Policy & Legal
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By Smoke Wallin The presidential race is not the only election in 2020 that is pivotal to our economic future. After an unprecedented $10.9 billion in worldwide sales generated in 2018, legal cannabis sales are projected to hit between…

The Emerging Hemp Industry – Government Regulation Can Help Businesses Grow

by Robert Roche Hemp cultivation and processing could be a boon for the struggling farmers and small businesses. Economists estimate consumer demand for the (non-psychoactive) hemp-derived CBD market could reach $22 billion by 2022. While COVID-19 has triggered record high…

Colorado-Based Hemp Organization Sues DEA

A Colorado-based hemp trade organization is suing the Drug Enforcement Administration over a new laboratory-testing policy that members of the hemp industry fear could hurt future CBD production. The Hemp Industries Association (HIA) and RE Botanicals, a hemp-product manufacturer out of…

A Bipartisan Bill Would Regulate Hemp CBD as a Dietary Supplement

by Nathalie Bougenies, Attorney at Harris Bricken Last week, Oregon Representative Kurt Schrader (D) and Virginia Representative Morgan Griffith (R) introduced The Hemp and Hemp-Derived CBD Consumer Protection and Market Stabilization Act of 2020 (“H.R. 8179”). If enacted in its current…

Did the DEA’s new rule confirm hemp-derived Delta-8 THC is illegal?

By: Andrea Steel and Lisa Pittman Last Friday, the Drug Enforcement Administration (the “DEA”) published a rule regarding the scheduling of hemp and marijuana, effective immediately (the “Rule”). The cannabis community swiftly reacted with an interpretation that this Rule outlawed…

Hemp CBD industry facing uncertainties during election year

If Democrats take control of the Senate following the 2020 election, the hemp industry could arguably suffer a significant loss since Mitch McConnell will no longer be Senate majority leader. U.S. Sen. Mitch McConnell has long been a powerful advocate…

FDA’s Draft Guidance for Clinical Research Regarding Cannabis and Cannabis Derivatives Takes a Firm Stance on the 0.3% THC Level

By Agustin Rodriguez and Dascher Pasco On Tuesday, July 21, 2020, the U.S. Food and Drug Administration (FDA) issued “Cannabis and Cannabis-Derived Compounds: Quality Considerations for Clinical Research, Draft Guidance for Industry.” This is the first draft guidance from the…

USDA on Colorado’s State Hemp Plan: Try Again

The U.S. Department of Agriculture has sent Colorado officials back to the drawing board to revise the state's proposed hemp-farming laws submitted to the feds in June. Legalized nationwide in late 2018, farming of industrial hemp is still subject to…

B Corp Certification: Another Way to Legitimize the Hemp CBD Industry?

by Nathalie Bougenies, Attorney@Harris Bricken For the past eighteen months, hemp stakeholders have been begging the federal government to regulate the hemp-derived cannabidiol (“Hemp CBD”) industry. As of date, the Food and Drug Administration (the “FDA”) has received over 4,000 comments from shareholders…

Texas Now Accepting Applications To Manufacture, Sell Consumable Hemp Products

AUSTIN, Texas (CBSDFW.COM) – The Texas Department of State Health Services announced Monday it has launched a new program to regulate the manufacturing, processing, distribution and retail sale of consumable hemp products. It’s called the Consumable Hemp Program. DSHS is…

Awaiting FDA Rulemaking, Courts Are Pressing Pause on CBD Class Actions

August 3, 2020
David Biderman
Hemp Business Executive, Hemp Policy & Legal
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By David Biderman, Barak Cohen, Tommy Tobin The cannabidiol (CBD) industry has seen a new wave of consumer class actions. The industry is poised to see further cases, especially as the market for CBD-containing products grows. At the same time,…

Federal Policy on Hemp CBD Is Taking Shape: What Needs to Be Addressed?

By Daniel Shortt, Attorney @ Harris Bricken This is the first post in a two-part series. Last week, the Food and Drug Administration (FDA) submitted a CBD enforcement policy to the White House. We do not yet have the text…

Is CBN a Controlled Substance? Yes. No. Maybe.

By Natalie Bougenies, Attorney at Harris Bricken Earlier this year, we discussed the legality of lesser-known hemp-derived cannabinoids which appeared to be gaining success in the U.S. One of these promising cannabinoids is cannabinol (“CBN”). Put simply, CBN is a…