From the FDA site :
"K@ is a botanical that qualifies as a dietary ingredient under section 201(ff)(1) of the Federal Food, Drug, and Cosmetic Act (the Act) [21 U.S.C. 321(ff)(1)]. When marketed as a dietary ingredient, FDA also considers K@ to be a new dietary ingredient under section 413(d) of the Act [21 U.S.C. 350b(d)] because, to the best of the agency's knowledge, there is no information demonstrating that this substance was marketed as a dietary ingredient in the United States before October 15, 1994. ...............
In the absence of a history of use or other evidence of safety establishing that K@ will reasonably be expected to be safe as a dietary ingredient, K@ and K@-containing dietary supplements and bulk dietary ingredients are adulterated under section 402(f)(1)(B) of the Act [21 U.S.C. 342(f)(1)(B)], because they contain a new dietary ingredient for which there is inadequate information to provide reasonable assurance that such ingredient does not present a significant or unreasonable risk of illness or injury."
To the FDA, it seems to be a lot of things but not really. It's best for everyone just to keep it off the radar but so many of these companies want to make a few extra bucks regardless of the damage they do to the industries involved.