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Cannabis in US is a ‘$100 Billion Opportunity: Tilray CEO Says

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Cannabis in US is a ‘$100 Billion Opportunity Tilray CEO Says

(CTN News) – Weldon Angelos spoke to “Kennedy” about his testimony at a Senate hearing on cannabis reform after being sentenced to 55 years in prison.

The CEO of Tilray, Irwin Simon, believes that the legalization of cannabis at the federal level will create major business opportunities in the United States.

Simon predicted that the opportunity would be in excess of $100 billion in a recent interview with Yahoo Finance Live.

In Los Angeles on May 8, 2020, a mature marijuana plant blooms under artificial lights before harvest.

Today, 93% of Americans want medical cannabis legalized, and approximately 63%, 65% want adult use,” he said.

Cannabis is legal today in 33 states and the District of Columbia. So, it’s out there that … most people want cannabis to be legalized.”

Oklahoma’s Marijuana Industry has High Expectations To Become ‘Wild West Of Weed’

It is possible to expand these opportunities to cannabis-adjacent products such as food, personal care items, and beverages.

Upon legalization in the US, Simon predicts that big companies like Diageo, Brown-Forman, ABI, and even Nestles and Unilevers will want to get into the cannabis business since they know Gen-Z and millennials want that.

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Arsi Mughal is a staff writer at CTN News, delivering insightful and engaging content on a wide range of topics. With a knack for clear and concise writing, he crafts articles that resonate with readers. Arsi's pieces are well-researched, informative, and presented in a straightforward manner, making complex subjects accessible to a broad audience. His writing style strikes the perfect balance between professionalism and casual approachability, ensuring an enjoyable reading experience.

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