WADAâ€™s approval of CBD gives another boost to the booming CBD industry
Health benefits of CBD are becoming increasingly accepted, and the World Anti-Doping Agency has confirmed it by approving the use of CBD by athletes. In this light, cannabis companies focused on CBD and medical cannabis like World High Life Plc (NEX:LIFE) are on the track towards high financial returns.
The World Anti-Doping Agency (WADA) announced the approval of the use of cannabidiol, better known as CBD, in oil, spray, tincture and cream form for all athletes worldwide.
Announced a few months ago, the agencyâ€™s decision came into effect on January 1, when CBD was removed from the list of banned substances on its website.
In this way, CBD, one of the 80 cannabinoids present in the molecular structure of cannabis, can be used as an alternative treatment for pain in athletes.
The international body gave the green light to this substance, after mentioning that cannabidiol (CBD) lacks the psychoactive effects that other components of the cannabis plant have, such as tetrahydrocannabinol (THC).
It should be noted that the World Anti-Doping Agency did not authorise the use of derivatives containing THC either before or during sporting competitions. Examples include natural marijuana, hashish or synthetic THC products.
â€śHowever, athletes should be aware that some CBD products extracted from cannabis plants may also contain THC, which could lead to a positive result,â€ť the WADA warned in a statement.
According to WADA, the use of CBD by athletes does not violate the three fundamental requirements for a substance to be considered as doping in sport.
These three requirements are that the substance is harmful to health, enhances the athleteâ€™s performance or violates the spirit of sport. In fact, these last two reasons are the main reasons why marijuana is prohibited.
With regards to marijuana, another derivative of cannabis, thereâ€™s controversy among specialists. Opinions are divided into two groups: those who see marijuana as a form of relaxation or those who see it as a way of altering consciousness. In both cases, it is something potentially harmful for athletes.
The opposite is true of CBD, which, unlike traditional marijuana, does have positive evidence of use in the sports environment as a key treatment for inflammation and pain.
It should be noted that the use of cannabidiol in sport worldwide is a result of its approval by the World Health Organization (WHO). In February 2019, the Organization recommended to Governments worldwide to remove cannabis and cannabis resin from Schedule IV of the UN Single Convention on Narcotic Drugs.
This compilation contains the list of substances which are considered dangerous to the health of both athletes and the general public.
The WHO resolution is considered to be historic and was a result of a meeting with drug experts held between November 12 and November 16, 2018. This meeting resulted in finding the therapeutic approach to CBD.
In this respect, experts mentioned that, in its pure state, cannabidiol is neither harmful nor at risk of addiction. It is therefore not a controlled substance in itself, but only as a component of cannabis extract.
In this regard, it should be mentioned that the Food and Drug Administration (FDA) in the United States approves the use of CBD in the treatment of conditions such as multiple sclerosis and two types of childhood epilepsy.
The global cannabis market is gaining momentum thanks to the widespread recognition of the medical and recreational benefits of cannabis and the acceptance of CBD-based products.
World High Life Plc (NEX:LIFE) is a UK-based investment company founded by two highly experienced North Americans, the founders of Supreme Cannabis (TSX:FIRE) and 1933 Industries (CSE:TGIF). After the founders quickly capitalized on the cannabis legalization in North America, they are bringing the hard-won experience and apply it to Europe through WHL.
World High Lifeâ€™s strategy is to identify and acquire only the companies with rising potential that are operating within the medical cannabis and CBD sectors in European countries with permissive laws towards the industry. The company offers a unique opportunity for investors who want to ensure high financial returns from investing their money in the cannabis sector.
WHL has started creating a portfolio of top cannabis companies from the UK and other European countries, and investors can have access to all of them by purchasing a single stock. This is a great opportunity for investors and a second chance for everyone who missed out on the Canadian marijuana boom.
The acceptance of CBD by the World Anti-Doping Agency in the athletes treatment is just another confirmation that the substanceâ€™s benefits on human health are a reality. World High Life is aware of the growing importance of CBD-based products and has set the foundation of becoming a leader in the European CBD sector.