On Oct. 10, during SupplySide West 2014 in Las Vegas, Informa Exhibitions LLC hosted the Agricultural Hemp Summit: CBD and the Hemp Revolution. CannaVest executives joined medical and science experts to review the burgeoning market for the cannabinoid CBD and share key developments affecting an American crop (hemp) that dates back to English settlers.

This year, Congress gave American farmers the right to plant hemp for research and development. Section 7606 of the 2014 Farm Bill authorizes institutions of higher education or state agriculture departments to study the growth, cultivation or marketing of industrial hemp in states that permit such activity. CannaVest Chief Executive Michael Mona, Jr. and others in the hemp industry are hopeful that the legislation will pave the way for federal legalization of hemp cultivation for commercial purposes in the United States.

Research has shown CBD may be effective in producing a number of health benefits, from relieving seizures to reducing inflammation. In 2012, the journal Pharmaceuticals identified 34 CBD studies, and the results to date have been promising. Although a renowned neurosurgeon acknowledged there has been a limited number of human trials on CBD, pharmaceutical companies are charging ahead with human trials in the hopes of administering CBD-infused drugs to patients suffering from epilepsy and other conditions.

Read INSIDER's full report on cannabis by downloading “Cannabis Revolution: An Exploration of Hemp and CBD."