Elon Musk Opens Twitter's Doors to Cannabis Ads
The entrepreneur is considered favorable to the use of the plant both by his statements and appearances smoking marijuana
By editorial team Sechat
Just a few months after buying Twitter for $44 billion, Elon Musk took his biggest step yet in support of the cannabis industry by opening his social media service to cannabis advertisements - unlike any competing platform.
On Wednesday (15th), Twitter's policies were updated to allow licensed cannabis-related companies to display ads – with restrictions – in U.S. states where advertising for the plant is permitted.
“Starting today, in some U.S. states, we have taken steps to relax our cannabis advertising policy to create more opportunities for responsible cannabis marketing – the biggest step on any social media platform,” stated Alexa Alianiello, head of advertising sales and partnerships in the U.S. for Twitter.
The new rules are by far the largest adoption of marijuana ads by a digital platform. Unlike other major social media companies, such as Meta, the parent company of Facebook and Instagram, which have long banned these types of advertisements, Elon Musk's Twitter has taken a significant step.
Twitter's more flexible rules come as more states have legalized marijuana sales in the U.S. Currently, adult use of cannabis is legal in 21 states, but it remains illegal at the federal level.
The decision by Twitter also comes at a time when the cannabis industry is facing severe economic turbulence that is driving down stock prices for many publicly traded companies and leading others to bankruptcy.
Various companies in the sector, including retail and wholesale stores, are suffering due to competition from illegal sellers and the high cost of doing business.
Still, the impact of Twitter's policy change is unclear. The new rules come with restrictions that significantly limit the types of ads allowed, to the point that most ads are still prohibited on the service.
“The cannabis space on Twitter is fun and engaging with users tweeting about their experiences with the use of the plant – whether medicinally, for wellness, or for adult consumption – as well as recommending brands, products, and retail locations. The conversation also reflects where the cannabis industry is currently heading: legislative/political reform, business development, and community impact,” concluded Alexa Alianiello.