David, Fort Lauderdale - On the opening day of APE, 2FIRSTS interviewed Jordan, a CBD distributor representative from Florida. Jordan introduced us to his understanding of the Florida market.
The "Compassionate Medical Cannabis Act" passed in Florida in 2014, which means that some patients are allowed to use medical marijuana and low-THC cannabis.
However, what really drives the booming CBD market in Florida is the "Farm Bill" introduced by the United States in 2018.
According to Jordan, this bill basically opened the door for some cannabis products that meet certain requirements, and the most notable is that cannabinoids (including non-psychotropic cannabinoids such as CBD) are released from federal regulation.
Jordan mentioned the key points to 2FIRSTS that as long as the "Delta-9 THC content is below 0.3%, it is classified as hemp instead of marijuana."
After the bill was passed, as long as the product meets the federal limits and label requirements, it can be legally produced, sold, and transported.
However, there may be some differences in implementation at the state level, such as stricter regulation of marijuana in Florida. "First of all, you must have a laboratory with a QR code to test all substances in the sample to be tested, including THC and CBD content, as well as testing for molds, heavy metals, and pesticides," Jordan said.
"You never know when new regulations will be introduced", said Jordan, as Dave from DemandVape put it, "things can change overnight".
Although there are rules at the macro level, the relevant regulations and supervision of the government regarding the development of the CBD market will not remain unchanged and will be adjusted over time and in response to new problems. Distributors like Jordan should strive to make the product ingredients clear and avoid any gray areas or the possibility of being banned by regulations.
"Because you never know when new regulations will be introduced. They (regulatory agencies) may change the rules tomorrow," Jordan said.
In recent years, the attitude towards recreational marijuana in the United States has become more tolerant, and Jordan himself is optimistic about the future legalization of recreational marijuana in Florida, which is only a matter of time. The current data seems to support his idea. As 2FIRSTS understands, as of February 2023, 21 states and the District of Columbia have legalized recreational marijuana, while before November 2011, this number was 0.
How will the future market develop?
In his view, Jordan believes that the development in the American consumer market is even difficult for industry practitioners to predict. He cited the rise of psychedelic mushrooms in the United States last year. Before that, the market had never seen such products, and no one could predict the birth of this dark horse.
"Now this industry is increasingly turning to psychedelic mushrooms and other alternative smoking products, and consumers are paying more and more attention to health," Jordan said.
In Jordan's view, the development prospects of the CBD market in Florida are broad, especially with the gradual relaxation of marijuana regulations and the increasing awareness of health among consumers, which may lead to the emergence of more innovative products and demand.
However, how to comply with regulations in a constantly changing regulatory environment is still a huge challenge for practitioners. Regardless of how the future market changes, Jordan said he will continue to focus on providing high-quality CBD products to consumers.
2FIRSTS will continue to follow the APE exhibition, and relevant reports will be expected.
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