The CEO of the medical cannabis company Tilray, Irwin Simon, believes that the legalization of cannabis at the federal level will provide great business opportunities in the United States.
In a recent interview with Yahoo Finance Live, Simon predicted that the opportunity would reach more than $100 billion.
“If you look at cannabis today in the U.S., 93% of Americans favor legalization of medical cannabis and about 63% to 65% want self-use for adults,” he said. “Today it’s legal in 33 states, plus DC. So basically most people want cannabis [יהיה זמין] legally.”
Simon emphasized that the opportunities can be expanded to cannabis-related products such as personal care products, clothing, food and beverages.
“What will happen once the US legalizes, the big companies like Diageo, Brown-Forman, ABI, even I think Nestles and Unilevers will want to be in the cannabis business because they know the Millennials and Gen-Z, and that’s what they want ,” Simon said.
Simon’s comments come after Senate leaders, led by Majority Leader Chuck Schumer, D-N.Y. They introduced a bill last month that would end the federal ban on marijuana, and allow states to set their own laws without fear of retaliation from the federal government.
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