The legal cannabis industry is swiftly gaining traction across the United States. As of the most recent federal election, the majority of voters and lawmakers in more than 30 states have swung in favor of medicinal marijuana laws on the books, with 10 states outright allowing recreational use.
However, it’s worth noting that the cannabis industry is not exclusively about selling products for “getting high” While the psychoactive potential of cannabis is certainly its most widely known feature, its a product of a single compound within the plant known as THC, short for tetrahydrocannabinol. THC is just one of upwards of 100 different cannabinoid compound found in cannabis, the rest of which do not induce a psychedelic experience.
How Companies Can Sell CBD Products
Cannabidiol (CBD) is one of the cannabinoids found in marijuana, along with THC. Unlike THC, consuming CBD doesn’t lead to a psychedelic experience. Instead, it helps calm down your nerves.
While CBD products have grown in popularity, it’s still not legal everywhere in the U.S. CBD oils, lotions, supplements are popping up at health food stores, online shops, and pet stores. They’re being marketed as the cure for anxiety, depression, and other mental health conditions.
CBD that’s taken orally can alleviate the symptoms associated with anxiety and depression. When used topically, it can relieve chronic pain and soothe sore and tired muscles. CBD products are even sold in places where marijuana is still not legalized. That’s because CBD oils are hemp-derived, which means they contain less THC.
It’s totally illegal, but the laws aren’t being enforced. That hasn’t stopped people purchasing CBD products. Last year, sales of CBD in the U.S. topped over $350 million. Some forecasters predict that by 2020 those sales will surpass $1 billion.
Anyone in the U.S. can purchase CBD online. It’s available in shampoos, body lotions, oils, candies, coffees, and vape juice. According to The World Health Organization, CBD is not dangerous to use. Even the World Anti-Doping Agency removed it from its prohibited substances list.
How to Sell CBD Products Online
Though CBD has increased in popularity, you should be extremely careful when selling CBD products. When you’re purchasing CBD products for profit, you should keep some of the following suggestions in mind:
- Verify that each of your products come from a licensed source.
- Test all of your CBD products to make sure it contains pure CBD tincture.
- Don’t sell your products to state that restrict the sales of CBD.
- Don’t make any medical claims about your CBD products.
- Keep up with the state and federal laws in regards to CBD sales.
Legalized Marijuana Laws in the U.S.
Only 10 states plus Washington D.C. have made it legal to purchase and use recreational marijuana. In addition, 33 states including D.C. have approved the use of medical marijuana. Marijuana legalization is slowly rolling out on a state-to-state basis. Thanks to the 2016 election, six states voted for legalized marijuana. It became one of the most heated debates of all time.
Keep in mind that marijuana is still classified as a Schedule I drug that has a potential for abuse. It’s still at the same level as ecstasy, heroin, and meth. Here is a list of the 10 states including the District of Columbia where it’s legal to purchase and consume recreational marijuana. You’ll also find 33 states plus D.C. that have approved the use of medical marijuana.
States With Legal Recreational Marijuana:
District of Columbia
States With Legal Medical Marijuana:
Even as states continue to legalize marijuana, selling cannabis is strictly prohibited at the federal level. While more states are in favor of medical marijuana usage, the federal government still views cannabis as a dangerous drug. Congress may call to reschedule and decriminalize marijuana, but that may happen in the distant future. Selling CBD products could be a profitable option, but you have to know where your products came from and keep up with the federal and state laws.