The future is a difficult thing to predict with any guarantee of accuracy, but by using scientific facts, statistics, and learning from history, we can make some educated guesses. If you’ve been following my forays into the Differences between Hemp, CBD, Marijuana and the Legality of each of them, you are probably wondering just like I am, what’s going to happen next? This is how the future is looking for hemp, CBD, and medical marijuana:
December 2018, both of the Chambers of Congress passed a Farm Bill that removes hemp from the Controlled Substances Act. When President Trump signed the Bill, hemp became legal to grow federally. This means that the imports from China are dropping from an all time high in 2015 of 78.1 million dollars of imports to 67.3 million of imports in 2018, because instead of only research plants being able to grow small amounts of hemp, it will once again be legal to grow as a farm crop.
The World Health Organization reports CBD does not produce harm or potential for abuse. This will help the CBD industry grow to 3 billion over the next 5 years as its properties are utilized in everything from digestible oils to bath bombs. If the door opens to investment capital, growth will increase to 20 billion. It is still uncertain what will happen if pharmaceutical companies try to patent CBD for use in medicines as this would change its classification from a “supplement” to a “medication”.
Unfortunately, there is still so much we do not know about medical marijuana. There is not much news about the future of medical marijuana. Some states have ruled it legal for medical use and more and more are expected to continue doing this. A few have legalized it for recreational use. We know that research will continue and it is expected that the United States will eventually approve all 50 states to have medical marijuana available in a controlled and non-hallucinogenic form.