The Vitamin Shoppe is the latest large retailer to announce it now carries CBD, but unlike other drugstore chains, the New Jersey-based company is selling edible CBD supplements and drops. The move goes against repeated warnings from the U.S. Food and Drug Administration (FDA) that CBD in food, cosmetics and dietary supplements remains illegal. With 700 stores […]Read More
While other banks and payment processors are stepping back, Hypur, an Arizona-based payments processor, has launched services to serve hemp and CBD merchants throughout the United States. Elavon, a U.S. Bank payments solution subsidiary, recently announced it would withdraw its services to the sector because of concerns over federal regulations. Other payment processing companies such as […]Read More
Urban Outfitters entered into an agreement with New York-based cannabis company iAnthus Holdings to begin selling CBD products in six stores and online. The New York-based clothing and home decor retailer plans to begin selling CBD For Life – a line that includes topicals, cosmetics and tinctures – later this month. The agreement will place […]Read More
The stability that the 2018 Farm Bill was supposed to bring to the hemp industry remains elusive, particularly on the banking front, where a risk-averse industry has been pulling its previously dipped toes out of the water. U.S. Bank’s payments processing subsidiary Elavon recently opted to pull out of offering services to hemp farmers and […]Read More
The Farm Bill’s passage presents marijuana cultivators, extractors, manufacturers and retailers with a boatload of federally legal business opportunities by way of hemp-derived CBD. But the pivot from a mainly marijuana company to a CBD firm is fraught with regulatory hurdles, gray areas and logistical challenges. Entering the hemp-derived CBD space isn’t as simple as […]Read More
Assuming the U.S. Food and Drug Administration develops health and safety regulations for CBD products, larger hemp companies with more capital may be poised to gobble up mom-and-pop hemp companies to supply big consumer-packaged-goods companies with CBD. In other words, the hemp industry may grow in acreage but contract in participants. For GenCanna, a Kentucky […]Read More
A third large U.S. pharmacy chain announced plans to carry CBD products in two states starting this month, following the trend of major retailers cashing in on the demand for hemp-derived CBD.Read More
Entrepreneurs say they’re carried away by the excitement of hemp’s potential. Hemp Industry Daily projects hemp-derived CBD retail sales will surge to as much as $7.5 billion by 2023, up from about $1 billion this year. Nevertheless, entrepreneurs are uncertain where the rush will take them or what the market is going to look like when […]Read More
Those of us who have been actively building cannabis-related businesses since the legal cannabis industry’s earliest days have long understood the potential of the hemp industry. Personally, it’s fascinated me ever since I met a hemp farmer at the very first MJBizCon, which was held in Denver in 2012. It was one of those serendipitous […]Read More
Several Arizona-based companies agreed to stop using television talk-show host and medical marijuana activist Montel Williams’ name in their CBD materials.Read More
A California court is giving hemp and CBD importers reason to smile, even though a federal judge dismissed most of a CBD company’s legal challenge to U.S. Customs and Border Protection. In his decision, U.S. District Judge Jesus Bernal repeatedly said the 2018 Farm Bill makes clear that hemp shipments shouldn’t be considered marijuana nor destroyed. […]Read More
Three CBD companies received letters from the U.S. Food and Drug Administration (FDA) and the Federal Trade Commission (FTC) warning them against making “unsubstantiated claims” about their products’ medical benefits. The companies, Advanced Spine and Pain (Relievus) in Jenison, Michigan, Nutra Pure in Vancouver, Washington, and PotNetwork Holdings in Fort Lauderdale, Florida, are accused of promoting […]Read More
Laura Drotleff Interviews Dr. Jonathan Vaught, CEO & Founder of Front Range BiosciencesHemp Industry Daily reporter, Laura Drotleff, interviews Dr. Jonathan Vaught, CEO & Founder of Front Range Biosciences.
Monica Raymunt Interviews Giovanni Isoldi, CTO at Materia Medica ProcessingHemp Industry Daily international reporter, Monica Raymunt, interviews Giovanni Isoldi, CTO at Materia Medica Processing.
Starting a CBD Business During a Time of UncertaintyThe economy has seen its fair share of up’s and down’s, but the CBD industry, still in infancy, has been a wild ride. The CBD industry has been the mecca for business entrepreneurs and start-ups, but what happens when economic or environmental circumstances out of your control strike? Hemp Industry Daily reporter Ivan Moreno, speaks with Jennifer Culpepper, Founder and Principal at Brand Joint and Co-founder at I+I Botanicals, and Christopher Gavigan, Founder and CEO at Prima, to discuss their experience during COVID-19.