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cbd transactions

The CBD market exceeded $4 billion in 2019, according to a study by the Brightfield Group, and they expect the industry to top $25 billion by 2025.

Recreational cannabis use isn’t quite the same as medical use. CBD oil and other products intended for medical use typically come in smaller doses and aren’t full-spectrum CBD (or “whole plant” CBD), which contains THC as well.

And the numbers nearly double for adults who have tried it once or more. According to a 2019 Consumer Reports CBD survey:

When it comes to where CBD users get their products, a 2019 Consumer Reports study says:

How much money is spent on CBD?

Additionally, the FDA has not approved products that contain cannabis or cannabis-derived compounds for medical use. In fact, at the federal level, all marijuana is illegal (medical or otherwise). It’s still classified as a Schedule I substance (along with heroin and LSD) by the DEA under the Controlled Substances Act . However, 33 states have legalized it for medical purposes, and 11 of those have approved recreational use for adults 21 and older. Technically, federal law supersedes state law, but the federal government has not chosen to prosecute businesses and/or individuals selling or using cannabis in states where it’s been legalized.

People tout CBD as a miracle treatment for heart disease, cancer, autoimmune diseases, Alzheimer’s, acne, and much more. Researchers haven’t found substantial evidence that it can effectively treat any of these conditions, but we also know that inflammation and stress can be contributing factors to these conditions. So, there may be some truth to the claims that CBD is beneficial to everyday health. Whether it’s in a morning smoothie, part of a skincare routine, or something else entirely, regular CBD use can potentially be beneficial for some people, although it comes with risks too.

Like other medications, CBD can have side effects, too. In one study , one-third of CBD users reported a non-serious side effect, including dry mouth, euphoria, hunger, irritated eyes, and/or fatigue. And according to Michael Hall, MD, the founder of the Hall Longevity Clinic , the spectrum of side effects is even broader.

CBD side effects

While it shows plenty of promise in treating various conditions, “it is not a one-size-fits-all [remedy] to treat specific conditions or symptoms of those conditions for every individual,” says Manisha Singal, MD, the founder of Aethera Beauty . “Research on the benefits and action of CBD in topical formulations as well as ingestible forms is ongoing. That experimentation is in its preliminary stages and there is a long way to go. The medical potential for CBD and other cannabinoids is undeniable, but medical research takes time and careful analysis.”

People claim that CBD can treat everything from acne to cancer. But the most common uses are for pain, inflammation, anxiety, and insomnia.

Cbd transactions

In 2012, Colorado and Washington became the first states to fully legalize marijuana in a recreational view.

In this piece, we’ll deep-dive into what CBD is, how you can sell it online, and the role that payment processing will play in your success.

Present day: A plethora of CBD

Paying by credit or debit card is one of the most popular ways to carry out online transactions. According to a survey of over 2,000 people that was carried out by Harris Poll in August 2017, 44% of people preferred paying by debit card. If you can’t provide this, chances are your customers will seek out alternative suppliers.

2012 and onwards: Recreational cannabis becomes legal

Nonetheless, a few considerations should be taken into account before choosing a service. For example, pay attention to the CBD payment processors that are compatible with your ecommerce site design. You should also be on the lookout for a company that offers point-of-sale (POS) availability, as this will reduce the in-office workload and administrative tasks required of your team if you have a physical store location.