Tilray CEO Irwin Simon She believes that legalizing cannabis at the federal level would provide significant business opportunities in the United States.
In a recent interview with Yahoo Finance LiveSimon predicts the opportunity will be more than $100 billion.
“If you look at cannabis today in the United States, 93% of Americans want it medical cannabis “It has been approved and about 63%, and 65% want adults to use it,” he said. “Today it is legal in about 33 states, as well as the capital. So, there is … that the majority of people want cannabis [to be available] Legally.”
Simon stressed that opportunities could be expanded to include cannabis-adjacent products such as Food, personal care items and beverages.
“What will happen once the US is legalized, and big companies like Diageo, Brown-Forman and ABI, I even think Nestle’s and Unilever’s will want to go into the cannabis business because they know Gen-Z, millennials, that’s often what Simon said.
Simon’s comments come after Senate leaders led by Majority Leader Chuck Schumer introduced a bill last month that would end the federal ban on marijuana, allowing states to set their own laws without fear of federal government retaliation.