Martha Stewart's pot partner talks about money to marijuana

Martha Stewart has partnered with the pot company, Canopy Growth, to develop a new line of CBD products for animals and humans. Stewart will start as an advisor in new product development, according to Bruce Linton, chief executive officer of Canopy Growth, which aims to move ahead of the federal legalization of marijuana.

"We can not say exactly where Martha will end up," Linton told Stuart Varney of FOX Business on Monday. "But our goal is to enter America when it's not legal at the federal level."

CBD stands for Cannabinoids, which are the natural chemicals found in marijuana plants used in medicine to treat the symptoms associated with a wide variety of disorders and diseases, according to the National Institute on Drug Abuse. The marijuana plant contains more than 100 cannabinoids, but the most popular and useful in medicine are cannabidiol (CBD) and tetrahydrocannabinol (THC), a substance primarily responsible for psychoactive effects.

Marijuana for medical purposes is currently legal in 33 states, while recreational marijuana is legal in 10 states, including Washington, DC. However, marijuana is still banned at the federal level.

"What does it look like [is] it's actually at the federal level that they're going to say that if it's a party and a doctor from Colorado, but if the next state does not want what's right, they will not have it not, "said Linton. "When this decision is made, we would always agree, we think, to all conditions …. And we would be in the bigtime. "

The CBD was recently adopted in the state of New York under the new federal Farm Act, which, according to Linton, will allow the amount of CBD used in products to appear on food labels. ingredients.

"The CBD is now regulated by the FDA," he said. "It also means that the FDA is slow, but in the state of New York and I think you will see other states, they say that if you want to put the amount of ingredients on the containers you can do it in New York. Indicate if you produce it here and that it is licensed here. "

However, legalizing the recreational pot is a federal decision.

"If the federal government does not say it's good, it means the banks do not think it's good," he said.

According to the Drug Enforcement Agency, marijuana is currently ranked in the list of Schedule 1 drugs, which equates to ecstasy, heroin and LSD. And Linton said he hoped that taking the lead on the side of the CBD would open the financial gates once the THC legalized.

"When you stay on the federal site, you can stay on the New York Stock Exchange. [It] means you can have bank accounts with Bank of America. [It] That means that when I go to a regulated environment like Germany, I can actually apply for a license because I do not violate any federal law, "he said. "And what we said is to stay on this side and push the rules rather than breaking them."

According to Linton, Canopy Growth is present in more than a dozen countries, including Germany, where pot supply is approved by the federal government.