When the 2018 farm bill legalized the cultivation and sale of industrial hemp and its derivatives, it opened the floodgates on an extremely lucrative market. With less than five years of legal sales under its belt, the hemp-derived cannabidiol (“CBD”) sector has seen hundreds of millions of dollars’ worth of product sales. Extracted from hemp, CBD is said to be chock full of potent and versatile medicinal properties and consumers have been purchasing CBD products in droves to reportedly help alleviate issues such as anxiety, chronic pain, and insomnia, among others.
According to a Grand View Research report, the CBD market was estimated to be worth $1.64 billion in 2020 and is poised to hit…
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