RE:RE:RE:RE:RE:RE:BS Billybonk the FDA submitted the CBD recommendations last week. Just needs a signature from the White House Office of Management and Budget.
This will not require the House or Senate. Several red states jumped head first into hemp growing when it became legal in 2018, it'll get approval and the sector will be off to the races. It's anticipated to be a short matter of weeks.
The Head of the FDA had previously referred to CDB legalization/regulation as "inevitable".
If anyone still follows Bevcanna, almost all their LOI's are for CBD beverages. Once approved companies will be able to sell to the US (with hemp derived CBD. Cannabis derived currently needs to be <0.3% THC, waiting for final rules to verify). That's US market access immediately whether they sell to CPG manufacturers here or shipping distilate to companies in the US directly.
If there's a glut in the Cannabis sector, CBD should be the way to go. All of their scale advantages translate exactly the same in the hemp sector as they rely on small C02 extractors for the current grey-area, state dependant market.
Interested to see if these new US market developments work their way into Nextleaf's messaging.