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Delta 8 and the New Year Predictions

Written by Antonio DeRose

Delta-8-tetrahydrocannabinol (D8) has had a wild year in 2021. This minor cannabinoid has been a major topic in news headlines and state court dockets. Many states have chosen to restrict D8 or ban it altogether. Although this hasn’t been the case for all states, with D8  remaining legal in 30 states.

California took a big stance with the passing of Assembly Bill 45. Then there are states like Texas, that have banned it, making D8 illegal. Then the ban was overruled, making D8 legal in the Lone Star State once again. At the same time, states like Michigan and Connecticut are regulating D8 the same way they’re regulating delta-9-tetrahydrocannabinol (THC). Other states, like Kentucky and Mississippi that seem to be legal grey areas when it comes to D8.

There’s also been movement regarding D8 at the federal level. In November, the United States Drug Enforcement Agency (DEA) released a statement clarifying their position on D8. In their statement, the DEA confirmed that D8 is legal at a federal level as long as it is made from hemp. It also has to follow the same guidelines and restrictions for hemp products, which means there cannot be more than 0.3% THC in D8 products.

As for the global position on D8, there’s still a lot of room for growth. The United States and Canada are both leading the market in D8 sales. Some countries have been slower to adopt pro-cannabis laws, like those in Asia, where cannabis is still viewed fairly negatively. Whereas, the cannabis laws of several countries in Europe are more favorable.

All in all, the prediction for D8 in 2022 is that we will continue to see a disconnect between the federal and state governments within the U.S. This will most likely lead to a few more states restricting it, while others will continue to leave it alone. The DEA has already made its official statement, so we’re unlikely to see much more come from the federal level. As for the global outlook of D8 in 2022, the U.S. and Canada are going to continue to dominate the market, while other countries like Mexico, and some countries in Europe, continue to catch up.

 

References:

US DOJ-DEA Clarifies Its Position That Hemp-derived Delta 8 THC Is NOT Illegal. Yahoo Finance. 2021. https://finance.yahoo.com/news/us-doj-dea-clarifies-position-120600928.html

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Antonio DeRose

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