A bill passed by the North Carolina Senate to legalize medical marijuana is likely doomed after the state House backed a competing bill that would permit cannabis products to be sold in the state only if they are approved by the U.S. Food and Drug Administration.
North Carolina’s state Senate on Thursday gave its initial approval to a restrictive, limited-license medical marijuana bill by an overwhelming vote of 35-10, but a Democratic senator expressed concerns that the vertical structure would shut out hemp growers.
U.S. health authorities on Thursday ordered three hemp companies to stop marketing CBD products for animals, warning that the cannabinoid might not be safe for them or the food supply.
North Carolina lawmakers could take up and pass a medical marijuana bill in an upcoming short session that runs from May 18 to June 30.
A handful of states remain in play to legalize medical or recreational marijuana through legislative action in 2022, but other efforts have faltered in recent weeks as some legislatures wrap up their work for the year.
Legal and lightly taxed, CBD operators have enormous business advantages compared to their colleagues growing and selling high-THC cannabis and its extracts.
But how will they fit in the overall cannabis industry when all THC levels – think recreational marijuana – are legal?
A bank in Raleigh, North Carolina, launched a banking program dedicated to marijuana and CBD companies.
