CBD Product Quality Control Could Become the Norm Thanks to Proposed Illinois Legislation

You have to be living under a rock if you still haven’t heard of CBD, or as the nerds call it, cannabidiol. It’s one of the cannabinoids found in the cannabis plant, and it accounts for 40% of the plant’s extracts. Unlike THC, CBD isn’t psychoactive, so you definitely won’t get high using it. Why then, is CBD all the rage these days?

Well, people use CBD to manage chronic pain, inflammation, and to manage stress and anxiety. While there’s little scientific research and evidence on the effectiveness of CBD, there’s plenty of anecdotal evidence from tons of people who’ve used the product.

Last year, the cultivation of industrial hemp, from whence CBD is extracted, was legalized federally. Since then, a ton of CBD products have flooded the market, mostly due to its insane demand. According to Brightfield Group, a Chicago-based cannabis research firm, the sale of CBD products is expected to reach $5 billion this year alone. That’s an increase of more than 700% from last year, and it could grow to up to $23 billion by 2023.

Federal regulators have since been scrambling to catch up. CBD products adorn the shelves of Walgreens, gas stations, and many other retailers, and unfortunately, there’s no way of testing whether these products stand up to the quality they claim. Coco Meers, the cofounder of Equilibria, a Chicago-based CBD company, states that there could be harmful pesticides or heavy metals in CBD products, or there might even be lower levels of CBD than what’s reported on the label. Without standard quality control measures set in place, all this could be going on without the consumers’ knowledge.

The proposed bill before state lawmakers would require all CBD products to go through standardized quality tests, and any that don’t reach a certain quality level will be removed from the shelves. Violators will face fines of $1,000 and more with increasing violations, and these fines will go to a newly formed CBD Safety Fund. The fund will aid in further enforcement of the law.

Most people who consume CBD products are rarely concerned with what’s in it. Rahul Easwar, the co-founder of Chicago-based CBD retailer LeafyQuick, says most customers are more concerned with flavor than with third-party testing. This places the onus of regulation on the state government as the federal government still considers how to regulate this industry. A state-mandated test would help ensure the consumers are buying products that are safe to consume.

Analysts believe the entire CBD industry, including The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) and VPR Brands LP (OTCQB: VPRB), will be waiting to see what kind of precedent the CBD quality control law in Illinois sets for other states.

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