Tilray CEO Still Says its a $100 million Business

Irwin Simon is the CEO of Cannabis MSO brand, Tilray. Simon told Yahoo Finance live that, “The U.S. is a $100 billion opportunity in cannabis.”

It’s estimated that close to 90% of Americans want medical cannabis legalized in the country, and more than 60% want adult use legalized as well.

Simon told Yahoo, “What will happen once the U.S. legalizes, the big companies like Diageo, Brown-Forman, ABI, even I think the Nestle’s and the Unilever’s will want to be into the cannabis business because they know Gen-Z, millennials, that’s very much what they want.”

The CEO of Curaleaf, Matt Darin, added, “We believe the future is in innovation. And many of these new categories that are coming online are really driving a lot of the growth in the industry.”

And while the issue of federal legalization is still temporarily holding back the industry from further growth, that’s expected to end, and it’s only a question of when.

Curaleaf’s CEO Darin said, "We're very encouraged by what's coming out of Washington, D.C. currently. There's never been more bipartisan support for sensible reforms."

And while federal legalization is the ultimate goal, there is still plenty of money to be made in the industry even as things stand now. Darin said, "Even if cannabis does not legalize for the next few years in the U.S., we're going to get tremendous growth out of our spirits business, our beer business, our Manitoba Harvest business."

​Simon said. "Europe medical cannabis is legal in 20 different countries. And then with Canada. Listen, Canada is the same size as California. And we're not going to stop on the acquisition trail.”

---