Uber may soon be able to make a very special delivery.
With states working to legalize recreational use of cannabis, the ride-sharing company wants in!
Although marijuana remains a Schedule 1 drug under federal guidelines along with ecstasy, heroin, LSD, and magic mushrooms, 16 states and the District of Columbia have legalized cannabis for recreational use. Currently, 36 states have legalized marijuana for medical use.
For now, Uber wants its focus to remain on current delivery options with key categories such as food and alcohol.
“We see so much opportunity out there, and we’re going to focus on the opportunity at hand,” continued Khosrowshahi.
Just in the last month, New York, New Mexico, and Virginia have all legalized recreational cannabis for adults leading many to believe that federal legalization is on the horizon.
Globe News Wire anticipates the U.S. cannabis market to double to $45.1 billion by 2025 with more than $16 billion coming from medical marijuana sales. Adult-use sales are expected to reach $25.1 billion.
Increased consumer access in markets that recently passed recreational use is expected to reach $1.2 billion in revenue by 2022.
While some states have passed recreational use, they’ve also committed to ensuring that communities most impacted by the war on drugs also receive the benefits of legalization.
According to Black Enterprise, New York City is donating 40% of its cannabis tax revenue to minority communities where Black and Hispanic residents have had a disproportionate number of marijuana-related arrests.
In Virginia, 30% of the cannabis tax revenue will go to a fund that will benefit communities that have been historically over-policed for cannabis-related crimes.