The CBD industry growth and potential make it attractive to many investors and previously anonymous venture capitalists are now willing to be open. Before delving into this growing industry, here are the basics:
What is CBD?
CBD is one of more than 100 cannabinoids found and CBD oil can be extracted from the cannabis and hemp plants. Below are the essential 4 legal components regarding the industry:
Legal in 11 U.S. states, recreational marijuana refers to cannabis used to intentionally experience its intoxicating and mind-altering effects.
CBD oil is a non-intoxicating nutritional supplement made from hemp that is used to promote wellness. It is legal under U.S. Federal Law. Individual states may enact their own laws around hemp-derived CBD.
Medical marijuana refers to the use of cannabis as a physician-recommended therapy for treating certain health conditions and symptoms. It is legal in 33 U.S. states.
Hemp is a versatile industrial crop with more than 25,000 product applications. Over 40 states have established commercial or pilot hemp cultivation programs made legal under the Farm Bill.
As the legal cannabis industry continues to develop and public support for the legalization of recreational and medical marijuana use grows, an increasing number of investors have taken note. Public and private cannabis-related companies raised nearly $13.8 million in 2018, compared to $3.5 billion in 2017, according to data from Viridian Capital Advisors cited by Fortune. With interest in pot stocks rising, many outsiders without intimate knowledge of the business are considering making investments in the space. As with any new industry, though, learning about the ins and outs of the marijuana landscape can be overwhelming.
While there’s an increasing trend in the demand for CBD, it’s more difficult to find payment processing solutions due to the laws that bound the cannabis industry. Here at SPS, we have solutions for every problem. We have reliable solutions and we are more than happy to help you with finding the best for your business. Don't miss this opportunity. Reach out to us to learn more. It’s an exciting time to get involved in the cannabis industry. There are countless opportunities to join together with a huge variety of businesses.