The FDA is going to have its first hearing on the regulation of CBD or cannabidiol on Friday. It takes place among the craze for CBD products such as potions, lotions, gummies, capsules, and oils.
The goal of the meeting is to collect info on a variety of topics associated with products loaded with these components. A lot of interested parties will speak in the hearing, including consumers, doctors, and cannabis firms.
In fact, CBD doesn’t cause users to get “high. Many people have been inhaling or ingesting CBD as recreational marijuana for years. What is different now is the fact that CBD is isolated as a compound and added to different products and supplements, which results in many questions to its safety.
“We really do not know anything about the safety,” said a drug expert at Harvard University. “Our country still doesn’t have any mechanism to control supplement effectively and guarantee that they are safe to use.”
Those products are often promoted as great ways to deal with different health issues such as chronic pain, anxiety, and insomnia. However, most of these claims are still unsupported. Indeed, there might be some possible harmful effects.
“Many people tend to avoid truly effective options since they believe that CBD would help them,” said Dr. Peter Lurie, the president of a consumer watchdog organization.
Supplement firms are trying to urge the FDA to take action on the regulation of CBD-containing products. “We are concerned that there are many companies that just make use of the current situation rather understanding what they are doing.”
The financial effects are significant enormous. It is estimated that CBD sales in the United States are expected to reach around $20 billion in 2024.
The market started taking off in 2018 after Congress introduced a new law that removes hemp from the list of controlled substances. However, CBD, a derivative from hemp, is still regulated by the FDA.
The purpose of the hearing on Friday is only to collect the necessary information. This means that there will be no official decisions would be made by the FDA. It might take many years to put any form of CBD regulation in place, which might frustrate plenty of industry insiders.
Many CBD manufacturers and distributors are still waiting as they want to comply with the law. In other words, they are hoping for a new framework so that they would legally and legitimately create high-quality products that contain CBD.