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[54] [154] It is a common misconception that the legal ability to sell hemp (which may contain CBD), and hemp extracts and derivatives (including CBD), makes CBD legal for sale as a supplement or medicine.
In 1997, cannabis was estimated to be overall the number four value crop in the US, and number one or two in many states, including California, New York, and Florida. This estimate is based on a value to growers of ~60% of retail value, or $3,000 per pound ($6,600/kg). [288] In 2006, cannabis was estimated to have been a $36 billion market. [289]
CBD shares a precursor with THC and is the main cannabinoid in CBD-dominant Cannabis strains. CBD has been shown to play a role in preventing the short-term memory loss associated with THC. [29] There is tentative evidence that CBD has an anti-psychotic effect, but research in this area is limited. [30] [24]
Ten other states have more restrictive laws limiting THC content, for the purpose of allowing access to products that are rich in cannabidiol (CBD), a non-psychoactive component of cannabis. [9] In 2024 thirty-seven states including District of Columbia have legalized the use of medical marijuana and CBD including recreational use as well. [76]
A review of the Leaf + Flower CBD Instant Curl Defining Cream.
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As of 2017, the hemp industry estimated that annual sales of hemp products were around $820 million annually; hemp-derived CBD have been the major force driving this growth. [ 140 ] Despite this progress, hemp businesses in the US have had difficulties expanding as they have faced challenges in traditional marketing and sales approaches.