CBD (CBD) is legal in most states as long as it’s derived from hemp, and has been popular among consumers due to its popularity. However, there is limited scientific evidence as to its effectiveness. Despite this, Pure Science Lab, a prominent player in the CBD space, has filed for Chapter 11 bankruptcy due to market conditions and debt. The company claims its CBD products help with pain management, sleep, and mental health. The Food Drug Administration has stated that there is insufficient evidence to support the use of CBD for most medical indications. Despite limited data showing CBD sales data, the market appears to be growing. An estimated 10.5% of the US population reports using CBD for therapeutic purposes.