LegalityHowever, that’s not to say that everything is going the plant’s way. As it stands, there’s still a federal blanket restricting marijuana. While some experts are surmising that there’s a possibility of the 2019 elections ending its ban, marijuana is still illegal at the federal level. Still, that didn’t stop the sector from gaining a strong foothold in the market.In fact, through a legal “loophole,” hemp-based CBD is federally legal, which, as it happens, is the main compound driving the market. Presenting many opportunities, various companies have taken advantage of the plant, utilizing it to gain a footing in the industry.
Taking advantage of the green rushOne of these companies is PotNetwork Holdings, Inc. (OTCMKTS:POTN), a Colorado-based firm that has exhibited continuous success in the relatively young industry.A certified leader in the industry, POTN operates as both publicly traded company focused on shareholder growth and as a holding company for its subsidiaries, which include the well-known Diamond CBD.Backed by a team of industry experts to doctors and professionals, the company is able to take advantage of the growing CBD trend and incorporate it into the firm’s business model. As a result, the company is able to successfully distribute its more than 15 recognizable brands to over 10,000 retail stores and distributors across the U.S.The success is largely due to its distribution arm, Diamond CBD, which it acquired through First Venture Capital. Currently one of the biggest CBD manufacturers across the country, Diamond CBD has managed to successfully earn its place in the market, what with the company being a crowd-favorite not just with its loyal customers, but also in various market trade shows, where it gets exposure from international distributors.As a matter of fact, Diamond CBD has managed to more than double its revenue month after month, which is an enormous growth for a company in the middle of a new industry.One of the CBD industry’s strengths is how flexible it is, and how vast the variety its products exhibit. As of writing, there are now more states across the United States where medical and recreational marijuana are legal than states where both categories are prohibited, and each state manufactures a wide array of CBD products all tailored to different consumer groups.POTN, through Diamond CBD, took advantage of this opportunity, manufacturing a line of products that range from recreational vape pens and gummies to supplements specially made for pain relief and anti-inflammation, to pet treats that can help tone down your pet’s anxiety.In the company’s most recent effort to solidify its place in the market, POTN has filed a Form 10 registration statement to become a fully reporting company under the Securities and Exchange Commission. The move is in line with the company’s decision to change its name to Biotech Hemp, Inc., which represents the company’s goal and focus better. These moves are aimed to help provide POTN’s consumers and investors more transparency with its practices.The CBD market is gearing for tremendous growth in the coming years. Vast product lines that click with the consumers ensure that, and the success of companies like POTN may very well be the indicator of the marijuana stars finally aligning.
—DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information. This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
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