This Week in CBD: April 19, 2019
With 4/20 coming up, Carl’s Jr. is making history by becoming the first major fast-food chain to provide a CBD burger. Featuring a CBD-infused sauce, the “Rocky Mountain High: Cheeseburger Delight” will be sold at only one location in Denver, CO. For now, at least.
In other food news (if jelly beans can be called “food”), Jelly Belly wants you to know that they do not manufacture CBD jelly beans. The confusion stems from an announcement made last month that David Klein, credited as the creator of Jelly Belly jelly beans, has started a new line of CBD-infused jelly beans.
Klein’s company, Spectrum Confections, creates CBD beans in 38 flavors, but has no connection to the Jelly Belly company.
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4 Corners Cannabis
Following in the wake of similar announcements from Walmart, CVS, and Rite Aid, the Vitamin Shoppe has become the latest chain retailer to announce plans to carry CBD products. But unlike the other retailers, who are sticking with CBD topicals for now, Vitamin Shoppe has decided to sell oral CBD as well.
And Urban Outfitters, the international retail clothing corporation, is also getting on the CBD bandwagon. The company announced this week that they will begin selling CBD for Life hemp-derived CBD products in some store locations in California and New York.
In very good news for the CBD industry, Arizona-based Hypur Ventures announced on Wednesday that they will provide payment processing services for hemp and CBD merchants throughout the US.
Despite the signing of the 2018 Farm Bill, other payment processing companies like Elavon, Square, and Stripe have stepped away from providing payment solutions for US hemp and CBD companies. This lack of options for financial services, forces companies in the industry to rely on international payment processors.
Bloomberg ran an article this week on the current CBD investment boom. Despite the uncertainty caused by the unknown future of FDA regulation, hemp and CBD companies are raising impressive amounts of money to expand production.
For example, just this week, Colorado CBD extractor, Mile High Labs, announced a new $65 million term loan to secure “mountains of hemp” for CBD extraction.
And in the wake of all that investment, other industries are feeling the effects. Fast Company cites nine different industries that are being affected by the CBD boom. Read the article for the full list, but some notable industries include biodiesel, plastics, paper…and cannabis lawyers.
In Oklahoma, Equitable Organic Ventures filed a complaint in federal court alleging that a Farm Service Agency official has been using threats to discourage farmers from growing hemp under the state’s (legal) industrial hemp pilot program.
The lawsuit alleges that the official told inquiring farmers that “if they plant even one hemp seed, they will be subject to losing their existing farm loans, be ineligible for further loans from the FSA, and be subject to criminal charges.”
The plaintiff is hoping for a declaratory judgment that farmers can participate in the Oklahoma Hemp Program without infringing on FSA (Farm Service Agency) guidelines.
More From CBD Hacker This Week
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Celebrate 4/20 With These CBD Deals
This weekend, celebrate 4/20 by treating yourself to some of the best CBD wellness products around. We’ve got some exclusive deals on some of our favorite CBD brands.
Things are constantly shifting in the world of politics and hemp, and this week was no different.
In Kansas, Governor Laura Kelly signed House Bill 2167 into law, expanding the state’s hemp program from being purely research-based to including commercialization. The bill also ensures that hemp products are not listed as controlled substances in the state.
In Nebraska, a bill that would legalize the growth of industrial hemp just passed its first debate. The Nebraska Hemp Act has been turned down before, but legislators are hopeful that this time it will pass. Despite the concerns of some senators, the first debate passed 37-4.
And in Florida, a House panel voted on Thursday to send a bill to the chamber floor that would initiate a state hemp program. The Florida Senate has a similar version of the bill that has already passed all of its committees. Citrus greening, a disease that is decimating orange trees in Florida, has farmers looking to hemp as a possible alternative crop.
Following their release last week of a survey of American CBD oil users, Consumer Reports has turned their attention to CBD safety. The article published this week outlines possible issues with subpar CBD products, like unreliable amounts of CBD and THC as well as the possibility of synthetic cannabinoids.
Advice from the article for CBD shoppers includes:
- Ask for a Certificate of Analysis before purchasing
- Buy CBD products from states (like Oregon and Colorado) that require some level of testing for CBD products
- Look for the US Hemp Authority’s seal of approval