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Expand chart
Data: Brightfield Group; Chart: Axios Visuals

Thanks to passage of the most recent U.S. farm bill legalizing hemp, cannabidiol — or CBD — is being sold widely throughout the country.

Why it matters: Mainstream acceptance is expected to bring explosive growth, with analysts from Brightfield Group estimating the U.S. CBD market will grow 706% from its 2018 levels by the end of the year, and reach nearly $24 billion by 2023.

  • Initially, sales of CBD products were generally limited to cannabis-specific companies, including vaping and hemp shops, but in Q2 retailers like CVS and Walgreens moved into the space.
  • Large pharmacy, retail and grocery chains are expected to take 57% of CBD retail market revenue by year-end.

Why you'll hear about this again: "Over the short-to medium-term, we expect expansion across both pharma and grocery as well as the emergence of supercenters, gyms, pet stores, natural food chains, and other big box retailers," Brightfield said in a recent publication.

Go deeper: Axios' Deep Dive on the business of marijuana

Go deeper

House passes $1.9 trillion COVID relief package

Photo: Screenshot via C-SPAN

The House approved President Biden's $1.9 trillion COVID relief package on a 219-212 vote early Saturday morning, sending it to the Senate for a possible rewrite before it gets to Biden's desk.

The big picture: The vote was a critical first step for the package, which includes $1,400 cash payments for many Americans, a national vaccination program, ramped-up COVID testing and contact tracing, state and local funding and money to help schools reopen.

8 hours ago - Health

Biden says it's "not the time to relax" after touring vaccination site

President Biden speaking after visiting a FEMA Covid-19 vaccination facility in Houston on Feb. 26. Photo: Mandel Ngan/AFP via Getty Images

President Biden said Friday that "it's not the time to relax" coronavirus mitigation efforts and warned that the number of cases and hospitalizations could rise again as new variants of the virus emerge.

Why it matters: Biden, who made the remarks after touring a vaccination site in Houston, echoed CDC director Rochelle Walensky, who said earlier on Friday that while the U.S. has seen a recent drop in cases and hospitalizations, "these declines follow the highest peak we have experienced in the pandemic."

Updated 8 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: Most COVID-19 survivors can weather risk of reinfection, study says — "Twindemic" averted as flu reports plummet amid coronavirus crisis
  2. Vaccine: FDA advisory panel endorses J&J COVID vaccine for emergency use — About 20% of U.S. adults have received first vaccine dose, White House says — New data reignites the debate over coronavirus vaccine strategy.
  3. Economy: What's really going on with the labor market.
  4. Local: All adult Minnesotans will likely be eligible for COVID-19 vaccine by summer — Another wealthy Florida community receives special access to COVID-19 vaccine.
  5. Sports: Poll weighs impact of athlete vaccination.