A British pharmaceutical company is closer to getting its CBD medicine to the U.S. market with the government’s blessing, a first for the cannabis industry and potential game-changer for all marijuana and cannabidiol producers. A panel of government health advisers gave a unanimous recommendation Thursday to the U.S. Food and Drug Administration to approve Epidiolex, […]
Flush with cash and looking for a toehold in the United States, Canadian marijuana companies are making big investments in hemp. Consider: Canopy Growth (NYSE: CGC), an Ontario marijuana producer that snagged an investment for 5 billion Canadian dollars ($3.8 billion) from a New York alcohol company, recently announced it is entering the U.S. hemp market. […]
But why is hemp illegal in the first place? After all, America was built on hemp, an industrial crop which contains tiny amounts of THC, the chemical compound in cannabis that produces psychoactive effects. Several Founding Fathers grew hemp. Cultivation of hemp was mandated by law in the Massachusetts, Virginia and Connecticut colonies. Beginning in 1631, hemp was legal tender for paying taxes in many of the American colonies and remained so for state taxes until the early 1800s.
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