THE WHAT? The US Food and Drugs Administration could be in line for a US$5 million increase in its budget next fiscal year, according to a report published by Hemp Industry Daily. President Trump is said to have requested the rise to allow the federal agency to adequately regulate the booming CBD market.
THE DETAILS The additional money would advance the FDA’s regulations on products containing CBD, which are pending.
“FDA is seeing a significant increase in activity relating to the marketing of unlawful cannabis-derived products, especially those containing cannabidiol, since the Farm Bill passed,” the agency said in a statement, per Hemp Industry Today.
THE WHY? FDA is playing catch up following the rapid rise in CBD-related launches. The additional budget would allow it to not only develop and apply policy and regulations but also process product review applications, conduct research and inspections.