Cannalaw Conference Wrap-up: What’s Next for Marijuana?
The conference closed with a look ahead to the future of the cannabis industry, patent issues, and emerging psychedelic market. What will we see with regards to patent enforcement? Only two cannabis related lawsuits have been filed to date, one that died. However, there is speculation that as the industry grows and federal regulation is introduced, there will be a rise in patent lawsuits. Aside from a few large patent holders, most patents are owned by inventors and small companies which could lead to patent troll activity. When is the FDA going to regulate hemp products, including consumables? The FDA has approved certain hemp products, such as hulled hemp, but they are looking into the safety and efficacy of other hemp products. Steps are being taken, including establishing a CBD working group, but it will be some time before the FDA issues regulations. What about psychedelics? Several states have introduced legislation to decriminalize and legalize psychedelics, with Oregon being the first state to pass legislation. If the industry uses cannabis as a blueprint and learns from their successes and missteps, we could see legalization move quicker than expected.
Quickfire Questions: What’s next?
The panel offered insight and predictions into the future of the cannabis industry, patent issues, and emerging psychedelic market. When is the FDA going to regulate hemp products, including consumables? The FDA has approved certain hemp products, such as hulled hemp, but they are looking into the safety and efficacy of other hemp products. Steps are being taken, including establishing a CBD working group, but it will be some time before the FDA issues regulations. What will we see with regards to patent enforcement? Only two cannabis related lawsuits have been filed to date, one that died. However, there is speculation that as the industry grows and federal regulation is introduced, there will be a rise in patent lawsuits. Aside from a few large patent holders, most patents are owned by inventors and small companies which could lead to patent troll activity. What about psychedelics? Several states have introduced legislation to decriminalize and legalize psychedelics, with Oregon being the first state to pass legislation. If the industry uses cannabis as a blueprint and learns from their successes and missteps, we could see legalization move quicker than expected.