The CBD industry is growing and mainstream acceptance will be tried later this month at the Indy 500. New Mexico-based Craft 1861 will sponsor the Carlin race team in one of the first deals of its kind in major professional sports.
Craft 1861’s logo and name will be on display as Carlin’s car circles the track during the prestigious race, building on a partnership that began during off-season test runs earlier this year.
Cannabidiol, better known as CBD is a hemp-derived compound without any of the psychoactive components associated with marijuana use. The CBD market has gained popularity with CBD-infused products for health-based benefits. Traditionally, cannabis and products of association have largely remained taboo and off-limits in major professional sports, with the vast majority banning their use. Advertising is also rare, including a recently proposed Super Bowl add that was rejected by the NFL last year.
Strict guidelines were met in regards to allow such a sponsorship opportunity in IndyCar, and the space will continue to be monitored by legal representation. Hemp-based CBD products are legal in all states under federal law, as long as they contain less than 0.3 percent THC. Currently the U.S. Food and Drug Administration is examining the potential regulations for the booming industry.
“We are extremely proud to be able to work with a new brand to IndyCar,” said Trevor Carlin, team principal of Carlin. “As a young team to the NTT IndyCar Series we are learning and expanding quickly. To have the backing of Craft 1861, also expanding quickly in a developing industry is very exciting. Hopefully, this is the start of a long relationship.”