Is tranexamic acid considered a cosmetic or a drug ingredient in the US?

In the United States, tranexamic acid used in skincare products is regulated as a cosmetic ingredient, not a drug, as long as the product is marketed for cosmetic purposes such as brightening or even skin tone — not to treat a medical condition. Marketing claims must stay within FDA cosmetic boundaries. Manufacturers listed on AJ Cosmo Labs can advise on compliant claim language for your target markets.