CVS and Walgreens to venture into cannabis industry

Your friendly neighborhood pharmacy also just became … your friendly neighborhood weed dealer?

Now that cannabis is something people want to be associated with, more and more companies are seeking ways to invest. Most people (like Mike Tyson) have opted to invest in their own lines of cannabis products in states where the drug is legal for recreational use. Other companies, like CVS, are focusing their efforts on creating a product that can be used across all fifty states.

Since CBD—the non-psychoactive derivative of the cannabis plant—is now legal in all fifty states, pharmacy retailers like Walgreens and CVS are looking to cut off a piece of the pie. The laws surrounding the legality of CBD is still foggy in certain places. Not every state has created laws that allow the product, despite the fact that the federal government has legalized and regulated it. For that reason, only a couple of states will be able to buy the CBD products available in Walgreens stores.

CVS was first to announce its venture into the cannabis world. However, Walgreens took no time at all to follow suit. The company announced this week that it will be offering a line of CBD products in 1,500 stores across a select few states. The states that will see CBD products on Walgreens shelves are Oregon, Colorado, New Mexico, Kentucky, Tennessee, Vermont, South Carolina, Illinois and Indiana.