Fans of CBD are rejoicing this week thanks to the U.S. Farm...

Fans of CBD are rejoicing this week thanks to the U.S. Farm Bill, which President Trump signed into law on Thursday. Last week, Congress voted to pass the bill with a vote of 369 to 47 in the House of Representatives. It passed in the Senate with a vote of 87 to 13.

The Agriculture Improvement Act of 2018, better known as the Farm Bill, legalizes the production of hemp, a form of cannabis and a source of CBD. While this development doesn’t clarify CBD’s legal status (the Drug Enforcement Administration still classifies it as illegal), it does make it easier for CBD product manufacturers to do business. For instance, it will now be easier to deal with federally regulated institutions, such as banks and credit card processors, which, in the past, could be challenging to work with when retailing CBD products, because of hemp’s drug classification. Another benefit to the industry is the fact that researchers will now have better access to CBD, which should lead to more trials and studies on its reputed health benefits.