This post is presented by our media partner Cannabis News Wire
View the original article here.
CBD and hemp firms recently scored a major win after Facebook’s parent company Meta loosened its hemp and cannabis advertising policies. In a recent notice, Meta announced the changes to its advertising policies and noted that companies in the cannabis space would now be allowed to advertise non-ingestible cannabidiol products under certain limitations. The social media giant also said that CBD-infused products that have 0.3% or less of THC can be promoted on its platforms if those products meet certain conditions.
America’s state-level cannabis industry has been incredibly lucrative from its inception, generating billions of dollars in sales and creating hundreds of thousands of new job opportunities. However, since the plant is illegal at the federal level and classified as a Schedule I controlled drug with no medical application, America’s cannabis industry is severely limited.
One of the most significant limitations is that the players in the cannabis sector are prohibited from advertising their products on most conventional platforms, making it extremely difficult for them to attract customers and boost sales.
With Meta’s recent announcement, hemp and cannabis retailers will be able to promote their products to the billions of consumers that use platforms such as Facebook, Instagram and recent addition Threads. Cannabis businesses will require written approval from parent company Meta as well as proof that their products are compliant with local laws and certified with Legitscript before they can prompt their products on Meta platforms.
Furthermore, the social media conglomerate has revised its hemp advertising policies to allow hemp businesses to promote their goods on Meta in the Canada, Mexico, and U.S. markets as long as they comply with local laws, industry guidelines and codes. Businesses will not require written permission to promote products with less than the legal threshold for THC (0.3%) in these three markets.
Meta will also publish hemp-related ads that seek to educate the public, advocate for or give “public service announcements related to CBD” without the need for written permission as long as they do not promote prohibited products.
The company said in a statement that it wants people to discover new products and services and learn about them on its platforms. Meta cautioned that ads containing CBD products will not be allowed to state or claim that the products can prevent, treat, cure, diagnose or mitigate any medical issue in humans and animals. Additionally, Meta’s ban on advertising THC-containing products or psychoactive cannabis products will remain active, the company said.
As more cannabis companies gain access to running adverts on various social media platforms, the industry is likely to grow, and this growth could deepen the reach of ancillary companies such as Advanced Container Technologies Inc. (OTC: ACTX), which indirectly benefit from the progress registered by cannabis enterprises.
NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX
About CNW420
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CNW420.com
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer
Do you have questions or are you interested in working with CNW420? Ask our Editor
CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com
CNW420 is part of the InvestorBrandNetwork.
This post was originally published by our media partner here.
