Texas Entrepreneurs Invest In CBD Oil Despite Legal Questions
DALLAS (CBSDFW.COM) - They are three of the most popular letters in business right now. C-B-D.
It's an oil derived from cannabis and despite questions about its legality in Texas entrepreneurs are investing a lot of money in the controversial product.
Michael Welch is a Dallas entrepreneur who more than a million dollars invested in CBD infused drinks he says he's not even sure are legal in Texas.
"We do have some concerns obviously," says Welch, President and CEO of Rocky Mountain High Brands. "I would say it is a risky bold move in many companies are taking it risky bold move."
Welch says his line hemp extract products do not contain THC which is the component that gets marijuana users high.
"It's going to help relieve anxiety relieve stress it's known to help as an appetite suppressant to help with sleep," he says.
But a group opposed to legalizing marijuana in Texas also thinks CBD should be banned.
"You can't always get all that THC out of the CBD oil there's always going to be a little bit of that," says Patricia Silva-Duran, Texans Against Legalizing Marijuana.
Silva-Duran says her daughter who is open about her addiction got hooked on marijuana at 15.
"because of that my daughter started doing other drugs as well mixing the drugs and right now she's in a court ordered treatment center," she says.
The owner of the CBD Kratom store in Dallas says he tests his products to make sure they are legal and agrees with those who want to see CBD products regulated.
Rocky Mountain High plans to bring its CBD infused drinks to store shelves by the end of the month.
"CBD is sort of in a gray area the laws are a little bit ambiguous," says Welch.
Authorities and Houston recently seized CBD oil from three smoke shops there.
But we are told those stores were selling it with an illegal synthetic addictive.
The state legislature is expected to address the issue during its session next year.