EU Ruling And Election Result May Change The Face Of The CBD Market Around The World

EU Ruling And Election Result May Change The Face Of The CBD Market Around The World

 

This is an ever-changing world, where shifts in the political landscape seem to happen daily, with far-reaching ramifications. An important decision, a change in the law, or even an election result can see an entire market open up. Leading to an increase in productivity, where the industry may never be the same again.

Observers believe two major events on the international stage could change the CBD market in Europe and the United States, bringing better growth and understanding.

On one hand, a recent ruling by the European Court of Justice (ECJ), could have a profound effect on the CBD industry in the EU (European Union). However, at the same time, despite the incumbent's protests, Joe Biden being elected US President could be beneficial to the Cannabidiol market, and cannabis firms across the globe.

In the case of the EU, the European Court of Justice has declared a Member State may not bar the marketing of CBD, produced legally, in another EU country. As well as making it clear, going by their findings, Cannabidiol does not meet the parameters of being a drug or narcotic, with no harmful or psychotropic effects on your wellbeing.

The ruling is seen as a way of clarifying the EU’s regulatory structure concerning CBD and help people in the industry with their growth plans. This comes on top of the UK stating Cannabidiol should be considered a Novel food and treated as such.

However, at the same time, many cannabis firms in the US are welcoming the election of Joe Biden. Particularly, as he is reportedly open to reforming federal legalisation in the US, regarding cannabis, which is presently still illegal at a federal level.

Some believe Biden may be considering decriminalising cannabis, which could expand the US market and lead toan upsurge in investment. It should also be noted severalUS states have already legalised cannabis for a variety ofpurposes.

Many industry experts see the recent EU decision, as well as the election of Joe Biden, as major turning points. Encouraging new players to enter the business, while increasing sales and productivity in Europe and the US. It could change the face of the CBD market internationally, as we enter a new era, following a ground-breaking ruling and election result.