HomeBusinessCannabis in the US is a '$100 billion opportunity', says Tilray CEO...

Cannabis in the US is a ‘$100 billion opportunity’, says Tilray CEO Irwin Simon

Tilray CEO Irwin Simon believes the legalization of cannabis at the federal level will open up great business opportunities in the United States.

In a recent interview with Yahoo Finance Live, Simon predicted the odds would be over $100 billion.

A green marijuana leaf

FILE: A mature marijuana plant blooms under artificial light prior to harvest at Loving Kindness Farms in Los Angeles on May 8, 2020. (AP Photo/Richard Vogel, File/AP Images)

“If you look at cannabis in the US, 93% of Americans want medical cannabis legalized and about 63%, 65% want adult use,” he said. “Today it’s legal in about 33 states, plus DC. So it’s there that… that the majority of people want cannabis [to be available] legally.”

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Simon stressed that the possibilities could be extended to cannabis-adjacent products such as food, personal care products and beverages.

“What will happen once the US legalizes, the big companies like Diageo, Brown-Forman, ABI, even I think the Nestle’s and the Unilever’s want to get into the cannabis business because they know Gen-Z, millennials, that’s very bad whatever they want,” said Simon.

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Simon’s comments come after Senate leaders led by Majority Leader Chuck Schumer, DN.Y., introduced a bill last month that would end the federal ban on marijuana, allowing states to enact their own laws without fear of federal retaliation. government.

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