The explosion in popularity of Delta 8 tetrahydrocannabinol (THC) has piqued the interest of cannabis enthusiasts looking to merge their love of THC with their entrepreneurial ambitions.
In addition to selling Delta 8 products in a brick-and-mortar shop, retailers may want to consider tapping into the world of online sales of Delta 8 THC products to significantly expand their reach.
Delta 8’s allure stems from its lighter effect on the mind. While it still induces a “high,” it’s not as strong as the effect that Delta 9 typically has when consumed.
While Delta 8 is a form of THC, it is Delta 9 that is more commonly referred to when the topic of THC arises. Delta 8 and Delta 9 are similar in chemical structure, though the psychoactive effects of the former are typically not as potent as those of the latter.
The difference in structure and mind effects lies in the double bond placement. While Delta 8 has the double bond placed on the eighth carbon, Delta 9 has it on the ninth, hence the names Delta “8” and Delta “9”. Because of this difference in placement of the double bond, they each bind slightly differently to the endocannabinoid system, which is why the psychoactive effects are different in terms of potency.
Before opening a Delta 8 e-commerce store, it’s important to understand the legalities surrounding the compound.
Right now, the legal aspect of Delta 8 THC is a bit of a grey area. The compound can be derived from either hemp or cannabis, which is an important point to understand because of the difference in legalities surrounding both plants.
Thanks to the Farm Bill of 2018, hemp is legal and can therefore be lawfully grown and used for extractions across all states on a federal and state level. In this case, hemp-derived Delta 8 legal would be considered legal.
And since much of the Delta 8 THC on the market is extracted from the hemp plant, it would therefore be considered legal.
Opening up an online Delta 8 e-shop requires that the platform you use to sell your products allows such sales. Even though Delta 8 is gaining in popularity, it’s still relatively new. And as such, financial institutions and payment processors will have to adhere to both state and federal regulations as they pertain to hemp products.
Further, both banks and payment processors will have to work together to approve e-commerce retailers in the industry.
Considering the high risk classification of Delta 8, it may be more of a challenge to obtain a merchant account. Fortunately, there are companies that offer merchant accounts for Delta 8 products, such as Easy Pay Direct, Pay Kings, and Soar Payments. These types of merchant account providers are willing to accept the liability for the heightened risk associated with selling products like Delta 8 THC.
E-commerce platforms will also likely require that you submit an attestation form if you want to sell hemp and hemp-derived products, such as Delta 8. Further, you’ll have to attest that your products contain no more than 0.3% THC in order to remain in compliance with all state, federal, and local laws.
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