Here is the latest CBD news from this week:
- Former New England Patriot Rob Gronkowski is going to create his own CBD products
- Former Broncos Running Back and Hall of Famer Terrell Davis says NFL should allow CBD
- The USDA is now allowing some hemp farmers to access federal crop insurance
Rob Gronkowski Plans to Launch Own CBD Products, Partners with Abacus Health
Former Patriots tight end Rob Gronkowski announced this week that he has partnered with CBDMEDIC, a brand under Abacus Health, to advocate for CBD in sports.
“I’m here today to appeal to the sports governing bodies of the world to update their position on CBD, whether that’s the NBA, MLB, or NFL,” said Gronkowski in a press conference. “It’s just time.”
The three-time Super Bowl champion, who retired in March after nine seasons in the NFL, suffered several injuries throughout his career.
Visibly emotional, Gronkowski spoke about how football brought him down and that he “wasn’t in a good place.”
However, after this past NFL season, Gronkowski heard about CBDMEDIC and began taking their products.
“For the first time in more than a decade, I am pain-free. And that is a big deal,” said Gronkowski.
Gronkowski and Abacus Health plan to create a line of recovery products for athletes.
The World Anti-Doping Agency lifted its ban on CBD last year, which allows Olympians and athletes competing in international competitions to use CBD.
Other sports organizations like the PGA allow their athletes to use CBD; however, there are consequences if they test positive for THC.
Major pro sports leagues like the NFL, NBA, and MLB as Gronkowski mentioned have a ban on cannabis of any kind.
Several former players are advocating for these leagues to allow CBD.
Terrell Davis Advocates for CBD Use in the NFL
Retired Broncos running back Terrell Davis went on CNBC this week to advocate for CBD and promote his own CBD brand.
David played for seven seasons and won two Super Bowls during his career in 1997 and 1998 NFL seasons.
He is the co-founder of DEFY, a CBD-based performance drink company.
Afterward, he suffered significant knee injuries, which shortened his career.
However, according to Davis, CBD has significantly improved his health.
“I feel about as good as I did when I played. My knees, I have more flexibility in my joints right now,” said Davis. “For a year and a half now I’ve had one migraine, and I didn’t have a full-blown migraine, so it’s helped me in that respect.”
Davis also expressed support for the NFL’s announcement to team up with the NFL Players Association to research CBD and other alternative therapies for pain treatment.
Currently, CBD and all forms of cannabis are banned by the NFL.
“I think the NFL is doing what it should be doing,” said Davis, “they’re looking at it, and they’re going to be doing research on it to make sure that it is something that is viable.”
While David did not start researching CBD until two years ago, he mentioned that players have been using CBD for many years.
“In a few years, hopefully sooner rather than later, CBD will be something that players who are currently playing will be able to use as a measure of taking care of the pain management, the inflammation,” said Davis.
“It’s a beautiful thing. It’s worked for me. It’s worked for a lot of players,” Davis continued.
The Hall of Famer’s CBD company is the first to create CBD-infused performance drinks.
The drinks contain 20mg of CBD and 0% THC.
USDA Announces Some Hemp Farmers Can Access Federal Crop Insurance
The USDA is now allowing some hemp farmers to have access to federal crop insurance, as outlined in the 2018 Farm Bill.
For now, the USDA is offering crop insurance to farmers who are operating under 2014 Farm Bill state pilot programs for the 2020 growing season.
Only farmers who are growing hemp for fiber, flower, or seeds are eligible.
These farmers will have access to Whole-Farm Revenue Protection, which insures up to $8.5 million in revenue.
“Numerous producers are anxious for a way to protect their hemp crops from natural disasters,” said RMA Administrator Martin Barbre in a statement. “The WFRP policy will provide a safety net for them. We expect to be able to offer additional hemp coverage options as USDA continues implementing the 2018 Farm Bill.”
Producers who plan to grow hemp under the 2018 Farm Bill’s provisions will have to wait until the USDA regulations on hemp are established to receive federal crop insurance.
The USDA has stated that it plans to release its plan in the fall of 2019, in time for the 2020 growing season.
States will then have to submit their hemp production plans to the USDA for approval.
“Once rulemaking is complete, RMA, the Farm Service Agency (FSA), the Natural Resources Conservation Service and other USDA agencies will share eligibility information on their programs, which include safety net, conservation, farm loan and disaster assistance programs. This includes FSA looking at additional coverage options through its Noninsured Crop Disaster Assistance Program and through RMA-administered crop insurance,” states the USDA’s announcement.
Financial assistance for hemp producers and businesses has been a significant issue in the industry since the 2018 Farm Bill was passed.
Several politicians have put pressure on federal agencies to clarify the legality of hemp so financial institutions would offer their services to hemp-related businesses.
Recently, the National Credit Union Association issued new guidance to its members that it was legal for credit unions to service hemp businesses.