The 2018 Farm Bill federally legalized industrial hemp and, by extension, CBD products hemp extract products like CBD oils. However, entrepreneurs must be aware of significant regulatory considerations surrounding the industrial hemp industry. The 2018 Farm Bill essentially removed CBD from the federal Controlled Substances Act and the oversight of the Drug Enforcement Agency. Instead, it placed governance of the hemp industry and cbd hemp extract oil in the hands of the FDA. The FDA is still devising regulations, which leaves the CBD industry in a gray area. So far, the federal agency has signaled that marketing CBD as having health benefits will not be tolerated. It has also initiated a crackdown against CBD-infused foods and beverages in some instances. Further complicating the regulatory landscape is the 2017 approval of the CBD-based pharmaceutical Epidolex, an epilepsy medication approved by the FDA. Since CBD is a primary ingredient in an FDA-approved drug, using it in food products without FDA approval could be illegal. Clearer guidance is sorely needed for CBD businesses to operate in compliance with federal regulations. In 2023, the FDA issued a statement that a new regulatory pathway for CBD products must be established because current frameworks are too limiting. The regulatory body indicated it will work with Congress to establish an appropriate regulatory strategy moving forward. "I think the FDA does have to step in, and they will," said Slovik. "I expect a lot of changes to labels; we’re seeing a lot of businesses out there now using the term ‘hemp extract’ instead of CBD, or they’re not thinking of health benefits so much.