Cannabis (unsplash photo)
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.
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“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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