Chromium (III) picolinate (CrPic 3) is a chemical compound sold as a nutritional supplement to treat type 2 diabetes and promote weight loss.This bright-red coordination compound is derived from chromium (III) and picolinic acid.hromium has been identified to regulate insulin by increasing the sensitivity of the insulin receptor. As such, chromium (III) picolinate has been used as a treatment for type 2 diabetes, although its effectiveness remains controversial due to conflicting and/or poorly carried out clinical studies.