Internet-of-Things (IoT) enabling technologies such as ZigBee, WiFi, 6LowPAN, RFID, Machine-to-Machine, LTE-Advanced, etc. depend on the license-free Industrial Scientific and Medical (ISM) bands for the Internet. The proliferation of IoT devices is not only anticipated to create a huge amount of congestion in the near future, but even now the unlicensed spectrum is not enough in the ISM bands. Towards this end, Cognitive Radio (CR) technology can resolve the spectrum shortage issue since CR users can opportunistically exploit white spaces in licensed channels of the adjacent wireless systems. In CR networks, it is critical to coordinate spectrum access among Secondary Users (SUs) while protecting priority rights of Primary Users (PUs). Therein, SUs need to take good care of hidden PUs in order to avoid harmful interference. Further, a densely deployed CR network can compromise spectrum sensing quality and certainty of the results when a large number of SUs contends to access the same channel. Therefore, based on the vulnerable sensing results, SUs can cause interference to the PUs. In this paper, we first investigate the leading issues and then propose a novel Handshake Sense Multiple Access with Collision Avoidance (HSMA/CA) protocol for CR-based IoT networks. Our proposed HSMA/CA scheme resolves hidden primary terminal problem and maintains sufficient priority rights to PUs in a densely distributed network. In addition, we optimize the spectrum sensing period to maximize the system performance by maintaining peculiarities in the sensing operation like false alarm and misdetection. To evaluate the performance of HSMA/CA, we have analyzed the protocol through the Markov chain model in terms of throughput and verify its accuracy by simulations. Simulation results show that our scheme is suitable for non-collaborative densely deployed CR-based IoT networks.