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The Projected Effect of Marijuana Legalization on the Athletic Industry

"Silke Mckinney" (2019-06-23)


id="mod_46571254">With the resurgence of the marijuana industry in more recent years, countless discussions have been done about it, whether in forums, events, news, or even just simple online exchanges. What's more, as the world gears itself for a green sea change, companies and businesses that are centered on it started sprouting everywhere, taking root in an industry projected to succeed. And with the U.S. preparing for the legalization of industrial hemp (a cousin of the marijuana plant with lots of uses), it seems that this industry has nowhere to go but up, and it plans on taking everyone with it.

Yet, with all of this talk about the cannabis industry, it seems that its effects on athletes (and athletes in general) are always out of the entire discussion. One of the reasons may be as a result of marijuana's reputation. Widely known for its psychoactive effects, marijuana has been known to impair athletes, and not improve their skills, throughout the years. Another reason may be because during the competitive season, a list of substances is banned by the World Anti Doping Association (WADA), and marijuana is included in the list.

Nevertheless, marijuana stays as athletes' second most popular substance, just after alcohol. And with Canada moving towards full legalization in a month's time, people are wondering how this will affect the industry moving forward.

Making the slow transition
Of course, these prohibitions against the drug are understandable. After all, there are ethical issues surrounding it, and depending on dosage, it may become addictive.

This is why some of these athletes are making the switch to its cousin hemp, where cannabidiol (CBD) is normally extracted from. Known for its wide array of health and medicinal benefits, CBD is largely responsible for revitalizing the industry. As a result, CBD products are all the rage nowadays, especially with athletes, thanks to its pain relieving properties.

Diamond CBD, a subsidiary of PotNetwork Holdings, Inc. (OTCMKTS:POTN), is a manufacturer of such products, creating a vast CBD line that will cater to every consumer, like its CBD oil that can be used for working out, and CBD gummies that kids can enjoy.

In fact, it's these same CBD products that got approved for use earlier this year by Big 3, a professional basketball league. Being the first ever U.S. league to do so, Big 3 even encourages its athletes to use CBD treatment.

As a result, CBD companies quickly found success, with Diamond CBD practically doubling its revenues month after month. Its parent company, POTN, is another success story, garnering massive yearly revenues.

It's still unclear how the athletic industry will react to the upcoming change in marijuana's legality, what with hard-rooted misconceptions concerning the plant. Still, as more and more athletes slowly make the change to using CBD, then it's not all too crazy to project that the transition will be a long, albeit rough at times, one. After all, companies like POTN are continuous in their efforts to change the world's perception of these misunderstood plants.

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