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CBD Monthly Roundup: November

The latest, biggest stories on scientific research, legal developments, and economic trends in the CBD world. 

CBD Science

Summary: One study declares that cannabinoids are too risky to use as a treatment for psychiatric disorders, while another finds that CBD is safe for use with pets. 

New meta-analysis declares that the potential risk of using cannabinoids (including CBD) for mental disorders outweigh benefits

The meta-analysis was published in the Lancet Psychiatry journal. It found that the evidence supporting cannabinoids as a treatment for psychiatric disorders was “scarce” and “very low quality.” However, the study used the umbrella term “medical cannabinoids” to include both plant-based and synthetic cannabis products, and the studies it reviewed were primarily concerned with THC, not CBD. 

First clinical trial on using CBD for pets find it safe

The study found that daily use of CBD is safe for pets at a dose of 2mg/kg of bodyweight. In a clinical trial conducted by the same doctor, Dr. Joseph Wakshlag, found that more than 80% of dogs experiencing multi-joint discomfort saw significant or dramatic improvement. 

New King’s College study to investigate CBD as a treatment for Parkinson’s related psychosis

Some clinical trials have indicated that CBD holds promise as a treatment for psychiatric disorders, and this double-blind placebo-controlled trial will investigate whether CBD can treat Parkinson’s related disorders. 

CBD Legal Developments

Summary: The USDA announces a framework for growing hemp, while Senators continue to urge the FDA to follow suit and develop regulations. 

USDA announces national regulatory framework for growing industrial hemp

The new program will allow farmers in all 50 states to grow hemp, and includes licensing requirements, testing of crops for THC levels, records maintenance, and the disposal of plants that do not meet the requirements. 

Senator Chuck Schumer urges FDA to establish regulations for CBD

This follows a similar urging by Senate Majority Leader Mitch McConell last month: they each pointed to the potential of the hemp industry to generate jobs and revenue, and also the currently unreliable quality of products on the CBD market due to lack of regulation. 

CBD Business Developments

Summary: Square becomes the largest payment processing service to open up to CBD businesses, while major sports and nutrition companies start incorporating CBD into their products. 

Square opens up payment processing services to CBD companies

After first announcing a beta program permitting CBD companies to adopt Square payment processing, this month Square announced that their platform will be open to all CBD companies. Square will charge CBD sellers 3.90% plus 10 cents per transaction for in-person tap, swipe, and dip payments. Online payments will cost 4.20% plus 30 cents per transaction

Sports beverage company announces CBD recovery drink

O2, which makes oxygenated sports recovery drinks infused with electrolytes, announced the release of a hemp-infused recovery drink with 10mg of CBD. The drink also has 7x more oxygen than water and 50% more electrolytes than other sports drinks on the market. 

Biosteel also announces CBD sports drink

O2’s announcement came on the heels of a similar announcement by sports nutrition company Biosteel. Biosteel, a popular brand that is used by major sports franchises in the NBA, NFL, MLB, and NHL, was purchased by Canopy Growth, North America’s largest publicly traded cannabis company: this drink will be Canopy’s first CBD-related use of the Biosteel brand.