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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

CBD Kratom Denounces Possible Delta-8 THC Ban in New York

November 1, 2021 GMT

ST. LOUIS--(BUSINESS WIRE)--Nov 1, 2021--

CBD Kratom, the largest privately owned cannabis and kratom retail chain in the United States, today condemned the New York Cannabis Control Board’s (CCB) move to possibly ban Delta-8 THC in New York state. The CCB has scheduled a meeting on Wednesday, November 3, where the board may vote on banning Delta-8 THC.

“The CCB is simply not doing the job they were appointed to do on behalf of the people in New York state,” said David Palatnik, co-owner of CBD Kratom. “They claim this ban is for the benefit of public health but how is that possible when consumers have asked for regulations, not a ban? A hallmark of CBD Kratom has been the self-regulation of our products and we have always supported sensible government regulations. Unfortunately, the CCB ban would be a dangerous decision that would harm countless New Yorkers who use this safe, effective, and proven product to battle a wide range of serious issues.”

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With a possible ban imminent, CBD Kratom recently issued a public comment letter to thousands of customers and constituents, encouraging them to send the letter to CCB board members and state representatives. In the latest round of public comments 100% of New Yorkers who submitted comments about Delta-8 specifically opposed any type of ban.

“We encourage everyone to join us in the fight to prevent this wrongful ban on Delta-8 THC,” Palatnik said. “Without a safe market for these products, a ban will cause hundreds, if not thousands, of people to turn to illegal markets to obtain these products. As a result, this could lead to many dangerous health outcomes for New Yorkers.”

Not only would a ban deprive consumers the many benefits of a naturally derived hemp supplement, the prohibition of Delta-8 THC would have a number of other negative consequences for New Yorkers and the state, including:

  • The potential loss of hundreds of jobs statewide.
  • Cost New York state millions in tax revenue.
  • Damage local small businesses and communities, still reeling from the impact of COVID-19.
  • Hurt minority-owned and women-owned businesses while creating a negative cultural impact on commerce in the state.
  • Harm veterans who use Delta-8 THC to help PTSD.
  • Lead to an increase in the black market, which is likely to result in more crime, drug arrests, and an increase in the number of people in an already overcrowded criminal justice system.

A compound found in the hemp plant, Delta-8 THC contains less than 0.3% of Delta 9 THC and has become increasingly popular in recent years for its many health benefits. In 2018, the U.S. Farm Bill was passed by Congress, legalizing Delta-8 THC at the federal level.

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“Instead of trying to safely regulate Delta-8 THC, the CCB is looking to push our emerging industry out of the light and back into the dark,” said Palatnik. “Banning this product will leave hundreds of people jobless and criminalize a recently liberated and marginalized group of New Yorkers seemingly overnight.”

ABOUT CBD KRATOM:

CBD Kratom is committed to helping customers lead healthy and fulfilling lives. Through their extensive product selection that includes edibles, topical creams, oils, skin care and pet treats, customers are guaranteed to find the right product for their unique needs. CBD Kratom has 44 retail locations throughout Chicago, Dallas, Houston, New York, Philadelphia, and St. Louis. By the end of 2021, CBD Kratom will operate six locations in Manhattan with plans to continue expansion into 2022. For more information, visit shopcbdkratom.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211101005965/en/

CONTACT: Greg Severin

314-616-8553

gseverin@mngcity.com

KEYWORD: NEW YORK MISSOURI UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TOBACCO SPECIALTY PHARMACEUTICAL LAW ENFORCEMENT/EMERGENCY SERVICES PUBLIC POLICY/GOVERNMENT RETAIL HOSPITALS ALTERNATIVE MEDICINE OTHER CONSUMER HEALTH OTHER NATURAL RESOURCES PHYSICAL THERAPY MANAGED CARE GENERAL HEALTH NATURAL RESOURCES CONSUMER MEDICAL SUPPLIES ONLINE RETAIL STATE/LOCAL OTHER RETAIL WINE & SPIRITS OTHER HEALTH OTHER POLICY ISSUES

SOURCE: CBD Kratom

Copyright Business Wire 2021.

PUB: 11/01/2021 04:38 PM/DISC: 11/01/2021 04:38 PM

http://www.businesswire.com/news/home/20211101005965/en