The New Year is here! We turn the chapter and start a new decade as we ushered in 2020.
This new decade will be an interesting one for the cannabis industry. We’ve already seen so much happen within the cannabis industry and CBD market during the last year alone, not to mention the past decade.
CBD (cannabidiol) started to emerge and gain popularity after Colorado’s historic move to legalize recreational marijuana. When you think back that far, it can seem like a distant reality, crazy to think just how far the cannabis industry has come.
Before we dive in, a special thank you to all cannabis activists, innovators, and just overall movers and shakers who have helped progress the industry to this fruitful point. The movement has grown strong and has crossed international borders.
Here are some of the biggest cannabis moments of the past decade:
Canada’s Nationwide Cannabis Legalization in 2018
One of the most notable moments in weed history is when Canda execute the bold move of legalizing marijuana.
Not even the United States, who first legalized medical marijuana back in 1994, was close to legalizing nationwide.
Furthermore, less than half of US states had any type of cannabis legalization. That’s pretty crazy when you think about it.
Thailand’s Medical Marijuana Legalization in 2018
2018, for the most part, was a good year for cannabis and CBD movement. Along with seeing Canada legalize weed nationwide, we also saw Thailand vote in the use of medical marijuana after researches realized cannabis’s potential wellness benefits.
For a country like Thailand, a country that has maintained relatively harsh drug penalties, this came as a surprise to many.
None the less, it was a great surprise to see the world become greener as another country took it’s first steps toward a more marijuana and CBD friendly society.
Farm Bill Passing in 2018
One of the main reasons you have probably seen a boom in CBD products since the passing of this bill. The Farm Bill allowed for companies in the United States to grow and distribute hemp for sale in all fifty states.
FDA (Food and Drug Administration) Approved First CBD-based Drug
This was a big win in a way for the CBD industry. The FDA approved the first CBD-based drug called Epidiolex.
The drug was created and approved to help treat intense seizures caused by two forms of epilepsy, Lennox-Gastaut syndrome and Dravet syndrome.
The FDA states in one of their posts that,
“Dravet syndrome is a rare genetic condition that appears during the first year of life with frequent fever-related seizures (febrile seizures)”
While “Lennox-Gastaut syndrome begins in childhood. It is characterized by multiple types of seizures. People with Lennox-Gastaut syndrome begin having frequent seizures in early childhood, usually between ages 3 and 5.”
Colorado’s Statewide Marijuana Legalization in 2014
Arguably the most important and boldest move made in the cannabis industry and CBD market.
Colorado’s legalization had American’s and people around the world watching. Skeptics around the world were hoping the industry would fall on its face, other’s were beyond excited to see this progressive policy be taken seriously.
With legalization came a wave of questions and concerns. Every few months brought in uncertain changes and businesses fell just as quickly as they started.
The world was watching as Colorado navigated some of the toughest challenges about legalizing marijuana. Many questions arose such as:
- How strong should edibles be?
- How much flower is legal to grow and sale?
- How will people be tested if driving under the influence of marijuana?
At one point, there were most marijuana dispensaries in Colorado than Starbucks and fast-food restaurants. Let that sink in for a minute. That’s a lot of weed and a lot of dispensaries.
We’ve seen a lot of changes in the cannabis industry and the world of CBD.
We’ve seen companies rise and fall, we’ve seen policies change basically overnight, and we’ve watched as the world as continually embraced cannabis and CBD. A trend we hope continues throughout this decade.
It will be an exciting ride, just like this past decade. Great things ahead!
The Future of CBD
It is arguable that the cannabis industry could be one of the most uncertain and unpredictable industries.
With so many unique factors that other more established industries don’t have to deal with, the cannabis industry and CBD market have gone through a series of ups and downs.
We predict that this new decade will also be very similar. The challenges of legalizing a new substance like cannabis pose so many questions all across the board.
For example, figuring out how many milligrams of CBD of THC (tetrahydrocannabinol) should be legally allowed in edibles and things of this nature.
These types of questions and challenges could continue for years because there are so many moving parts to the marijuana movement.
However, we have seen some great successes this past decade, hopefully at some point during this new decade, we see cannabis become legalized on the Federal level.
Where to buy CBD?
That might seem like a silly question with CBD oils and other CBD products being sold virtually everywhere.
However, just because you see cannabidiol products in stores doesn’t mean they are always made with quality ingredients or even real CBD.
Due to the lack of regulations enforced for the CBD market, products containing poor quality, and even sometimes harmful ingredients have entered the market.
This is why people should reframe from buying cannabidiol products from places like gas stations.
Your best and safest bet is purchasing products from CBD dispensaries or CBD stores, these places have a better understanding of what quality CBD products should look like and typically provide lab reports results for all of their products, something to not take for granted when purchasing CBD.