Photo: Smith Collection/Gado/Getty Images

Gummy candies, soft drinks, dog treats, body lotions — these days, everything under the sun is available with CBD, or cannabidoil, an ingredient derived from a non-psychotropic part of the marijuana plant.

The big picture: While everyone from Kim Kardashian to Gwyneth Paltrow relishes the supposedly relaxing qualities of CBD, the FDA is still evaluating the therapeutic claims of the industry.

The numbers that matter: In 2018, the U.S. cannabinoid market, including high-THC products with small amounts of CBD, totaled about $10.5 billion, according to a report by Arcview, a cannabis research and investment group.

  • By 2024, the market is projected to grow to $44.8 billion.
  • That tops U.S. legal spending on cannabis (medical and recreational), which Arcview says was $9.8 billion in 2018 and could reach $30 billion in 2024.
  • Caveat: These markets are difficult to track accurately, so the numbers should be treated as estimates.

What we're hearing: “Over time, there is a sense by some people in the industry that [CBD] is a bigger opportunity than marijuana and THC around the globe,” Chris Walsh, president and founding editor of MJBizDaily, tells Axios.

  • Buzzy categories include beauty products like skin care and pet products, Walsh says.
  • Big pharma and large convenience chains are driving a lot of the market’s growth.
  • But a current lack of oversight and regulation means that low-quality (or even scammy) products can discourage consumers who have bad experiences.

Go deeper:

Go deeper

Updated 36 mins ago - Politics & Policy

Supreme Court blocks Alabama curbside voting measure

Photo: Mark Wilson/Getty Images

The Supreme Court on Wednesday evening blocked a lower court order that would have allowed voters to cast ballots curbside at Alabama polling places on Election Day.

Whit it matters: With less than two weeks until Election Day, the justices voted 5-3 to reinstate the curbside voting ban and overturn a lower court judge's ruling designed to protect people with disabilities during the coronavirus pandemic.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Senate Democrats block vote on McConnell's targeted COVID relief bill McConnell urges White House not to strike stimulus deal before election.
  2. Economy: Why the stimulus delay isn't a crisis (yet).
  3. Health: New York reports most COVID cases since MayStudies show drop in coronavirus death rate — The next wave is gaining steam.
  4. Education: Schools haven't become hotspots — San Francisco public schools likely won't reopen before the end of the year.
  5. World: Spain becomes first nation in Western Europe to exceed 1 million cases.

U.S. officials: Iran and Russia aim to interfere in election

Iran and Russia have obtained voter registration information that can be used to undermine confidence in the U.S. election system, Director of National Intelligence John Ratcliffe announced at a press conference Wednesday evening.

Why it matters: The revelation comes roughly two weeks before Election Day. Ratcliffe said Iran has sent threatening emails to Democratic voters this week in states across the U.S. and spread videos claiming that people can vote more than once.

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