The 2018 U.S. Farm Bill changes the way that CBD-based products are legally classified. If the federal government permits the sale of cannabis-sourced products online, established companies in the space could reap huge rewards.
- The legalization of cannabis in Canada and some U.S. States has demonstrated the latent demand for cannabis-based products.
- CBD is used to make numerous products and its potential uses are growing.
- Research suggests that the market for CBD products could grow to an estimated $22 billion over the next four years.
SinglePoint Inc. (OTCQB: SING) (SING Profile) is in a good position to take full advantage of the changes in how CBD products are regulated. Major producers such as Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), Aphria Inc. (NYSE: APHA) (TSX: APHA), Medical Marijuana Inc. (OTC: MJNA) and OrganiGram Holdings Inc. (OTCQX: OGRMF) (TSX.V: OGI) are also well-placed to expand into the CBD space, but they may have to compete with a new class of growers.
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About SinglePoint, Inc.
SinglePoint, Inc. is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry. For more information, visit the company’s website at www.SinglePoint.com.
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