Within the last few years, CBD has become one of the most quickly-expanding products in the health and wellness industry. It has been marketed as a potential pain reliever, sleep aid, and everything in between, with thousands of people talking about how it has helped them improve their health and their lives. Following the 2018 Farm Bill, which made CBD federally legal for sale and consumption, many different types of products have flooded the market. But with this influx of new products, regulation has only become more difficult and less effective across the board. If you don’t look carefully enough at what you’re purchasing, you’ll often find people selling hemp oil as CBD oil or otherwise scamming their customers.
For this and other reasons, Consumer Brands has recently decided to launch a group called the Coalition for Smart CBD Regulation, which is committed to protecting consumers with input from experts across multiple industries. In addition to protecting customers, the group also aims to introduce new reforms to the CBD industry by providing the necessary resources and advocating for change at the federal level. The group’s members are incredibly diverse, including those from federal law enforcement agencies, retail experts, narcotics experts, and other critical industry groups.
One of the main catalysts for the forming of this group was the coronavirus pandemic. Many scammers and other bad actors within the CBD industry took the opportunity to prey on people’s fears during this novel pandemic, promising that their products would work as cure-alls or protection from the virus. The idea that CBD could work as a virus preventative has no scientific backing, and this is the kind of conflict that this new coalition aims to solve. To achieve this, they plan on investing in new research as well as industry oversight to protect both customers and small businesses from those who attempt to take advantage of the market.
The coalition also aims to make sure that every CBD product entering the market is abiding by new, strict regulatory processes to make consumers safe. Safety is the number one priority for this new group, and they plan on extending the very few CBD regulations currently existing in the market. As of right now, virtually any company can market its CBD products without having to abide by strict government standards. Companies can use virtually whatever additives or extraction processes they please without having to answer to a higher governing body. While most CBD products on the market are widely considered safe and effective, there will undoubtedly be scammers in any industry.
One in every three Americans has reported using CBD at some point, and many of them incorrectly assume that strict regulatory procedures govern the products they use and 70% of American CBD users are actively using CBD as an alternative to a traditional pharmaceutical. When people depend on CBD to aid them in their everyday life, it is incredibly vital that we have measures in place to keep these products as safe as possible. The coalition is also working with the Attorney General Alliance to combat and eventually punish those who are using the coronavirus pandemic as an opportunity to sell falsely advertised CBD products.