On May 19, 2021, Senators Rand Paul (R-KY), Ron Wyden (D-OR), and Jeff Merkley (D-OR) introduced The Hemp Access and Consumer Safety Act of 2021 (the “Act”), which generally provides a legal pathway for certain hemp-derived cannabidiol (“CBD”) products.
Currently, all CBD and CBD products are regulated by the Food and Drug Administration (the “FDA”) pursuant to the Federal Food, Drug, and Cosmetic Act (the “FDCA”). As a CBD derivative has been approved by the FDA in a currently marketed drug, CBD cannot, as a matter of law under the FDCA, be lawfully placed into commerce as a food or dietary supplement at this time.
As provided within the Act, CBD and CBD products could be placed into commerce as a food or dietary supplement under the FDCA. Please note that all CBD and CBD products would remain subject to the specific food and/or dietary supplement compliance obligations as provided within the FDCA.
Derived from hemp, CBD and CBD-infused products have exploded in popularity throughout the United States. A recent study estimates that the national CBD market could reach a value of $16 billion by 2025. Despite widespread growth and ubiquitous consumption, CBD remains largely unregulated on a federal level at this time.