Marijuana isn't legal in the U.S. and may not be for a long time. But there can be lots of confusion for investors because in some ways, it is legal. And cannabidiol (CBD), the non-psychoactive substance in cannabis that is closely associated with its health benefits, is becoming more mainstream. Recently, Major League Baseball's Kansas City Royals announced a partnership with a CBD company, Pure Spectrum, promoting the health effects of the substance on overall wellness.

Investors, however, should be wary of these types of reports, as they can be misleading and perhaps even suggest that legalization is closer at hand than it really is.

The headline about the partnership mentioned a CBD company, as is normally the case. But an important distinction that often gets omitted and that investors may not have noticed is that the Royals partnered with a business that makes hemp-based CBD. It's a small but significant difference.

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Source Fool.com