No, several companies sell potting soil called Black Soil, and it is! This is well composted material,. Here's a link to what I'm using
http://www.lambertpeatmoss.com/products/lambert-black-earth-type-blend/ . I mix it with 25% coco and some horse and or cow compost, Blood meal and some Doctor Earth dry nutrients and filled my raised bed with it. I've stopped using regular organic potting soil and switched to the black soil indoors also. My auto pots have that in them and is now my base for running Megacrop nutrients. I just cut out the stump of the previous plant, and plant again in the hole. My last grow was done that way, it was one of my best grows yet!