CBD is one of more than 100 cannabinoids, which are compounds found throughout the cannabis and hemp plants. The most famous cannabinoid is undoubtedly tetrahydrocannabinol (THC), which is responsible for the intoxication associated with the consumption of cannabis. CBD, however, does not produce an intoxicating effect; instead, it offers potential therapeutic and health benefits, though research into its potential medical applications is ongoing.
The CBD sector of the cannabis and hemp industry is one of the fastest growing segments of the space. Here's how you could start a CBD business and get involved.
[If you're looking for more details on how to start a business and all the steps you need to take, see our step-by-step guide to get started.]
How to start a CBD business
Needless to say, society is growing more open-minded and accepting of CBD. Many individuals are turning to it for pain relief, stress management, better sleep, and more; and many gas stations, restaurants, and local CVS stores now sell it.
On November 3, 2020, Mississippi voters successfully legalized a medical cannabis program for the state. Measure 1 was split up into two parts for voters to respond to. The first question of whether Mississippi should allow medical marijuana passed with 66.84% voting in favor of legalization. The second question of whether Initiative No. 65 or Initiative No. 65A should be enacted the establish a medical cannabis program passed with 73.39% voting in favor of Initiative No. 65, the more comprehensive initiative backed by Mississippians for Compassionate Care.
The Mississippi State Legislature passed House Concurrent Resolution 39 as a legislative alternative to the initiative, which appeared on the ballot as Alternative 65A. The legislature’s alternative was less robust. It restricted smoking to only terminally ill patients and did not define qualifying conditions, tax rates, possession limits, or the licensing structure for a regulated dispensing system. Details would be decided by the legislature if voters passed it into law.
On November 30, 2017, the Mississippi Department of Health announced the addition of autism and obstructive sleep apnea to the state’s limited medical marijuana program. Starting July 1, 2018, patients who suffer from these conditions will be eligible to apply for the program.
On May 14, 2021, the Mississippi Supreme Court ruled in favor of a state mayor who filed a legal challenge against the voter-approved medical cannabis ballot measure, nullifying its certification by the Secretary of State. Therefore, a medical cannabis program is no longer being implemented in the state.
RECOMMENDED MISSISSIPPI MARIJUANA BUSINESS PLANS:
To be proactive and begin preparing for if the state re-legalizes a medical cannabis program, view our recommended resources below.
A campaign group known as Mississippians for Compassionate Care proposed a 2020 ballot initiative to legalize a medical marijuana program in the state. Initiative 65 qualified for the November 2020 ballot and was filed with the Mississippi State Legislature on January 7, 2020. Proponents of the measure submitted more than 214,000 signatures in September, of which, 105,686 were found to be valid. To qualify for the ballot, 86,185 valid signatures were required.
Mississippi Gov. Phil Bryant signed a limited medical marijuana bill also known as Harper Grace’s Law on April 17, 2014. The law allows for state residents suffering from a debilitating epileptic condition a legal protection for the use and possession of CBD oil, a marijuana extract. The law only allows for the National Center for Natural Products Research at the University of Mississippi to produce and the Department of Pharmacy Services at the University of Mississippi to dispense the CBD oil.
Mississippi Proposed Medical Marijuana Treatment Center License Guidelines
Status: In Mississippi, qualifying patients may use and possess cannabidiol. The Mississippi Supreme Court overturned a voter-approved ballot initiative to legalize a medical cannabis program in the state.
However, on May 14, 2021, the Mississippi Supreme Court ruled in favor of a state mayor who filed a legal challenge against the voter-approved medical cannabis ballot measure, nullifying its certification by the Secretary of State. Therefore, a medical cannabis program is no longer being implemented in the state.