ALBUQUERQUE, N.M.- The hemp-derived CBD industry is currently operating with no oversight from the government, leaving some New Mexico companies to self-regulate.
“What this all boils down to is consumer protection,” said Matt Kennicott, a co-founder of Glo CBD which produces chewable CBD tablets.
“This is a substance that people are putting into their bodies so we need to make sure it’s clean, it’s safe and what we say is in there is actually in there,” said Kennicott.
Some people use hemp-derived CBD for pain or anxiety. However, the FDA is not currently approving any CBD products for commercial sale.
Kennicott says his company follows FDA regulations and guidelines for manufacturing that apply mainly to pharmaceutical products.
“As you know CBD doesn’t really have any regulation around it right now but we wanted to a different company by setting the standard and following FDA regulations,” said Kennicott.
4 Investigates exposed how the CBD industry is currently operating in the dark with no government-imposed health or safety regulations.
State Rep. Derrick Lente says a new law will eventually allow the state to hold all CBD companies operating in New Mexico to a common standard.
“These types of rules and policies are all being made but they’ll ensure the consumer is buying a quality product from the State of New Mexico,” said Rep. Lente.
In the meantime, Kennicott says his company is focused on fostering complete transparency with their product. It features detailed information, including a batch number and a QR code on the label that directs consumers to test results of the product.
“What we’re hoping to do is kind of set the standard for CBD companies and when regulations come down, we’re going to be prepared for those regulations and maybe just make a few adjustments here and there,” said Kennicott.
While it could take years for the FDA to roll out regulations for CBD products, the State of New Mexico is expected to implement its new rules and regulations in a matter of months.