Tilray CEO expects Marijuana Legalization in the US
Irwin Simon, CEO of Tilray expects the U.S. to Legalize Cannabis within the next couple of years.
Tilray is the world’s largest global cannabis company that operates in Canada, the United States, Europe, Australia and Latin America that distributes, cultivates and researches cannabis. In Canada Tilray holds roughly 14% of the cannabis market share in Canada with hopes of expanding. Although Tilray is not currently operating in the U.S., there are plans to enter the market.
Simon spoke in an interview with Yahoo finance and stated “I see over the next 18-24 months that cannabis in some format will have legalization”, Simon later went on to say “In regards to legalization happening in the U.S., I think we will be ready to partner when that does happen”.
Currently there are 18 states in the U.S., plus Washington D.C., that allow recreational and 37 states that allow medical cannabis. In the most recent news New Mexico, Connecticut, and Virginia have allowed their residents to use legal cannabis as of July 2021.
Senate Majority Leader Charles E. Schumer released a draft legislation known as the Cannabis Administration and Opportunity Act that would legalize cannabis at the federal level. A recent study showed that 60% of Americans support the legalization of cannabis for recreational and medical purposes.