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.
“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.