Since states across the country first began legalizing cannabis, the ability for cannabis-related businesses to advertise on social media — or even mention or show cannabis products — has remained a contentious issue. 

Many platforms will quickly remove cannabis business accounts once they catch wind of their content, leaving professionals with limited access to their audience and ultimately having to jump through hurdles like self-censorship to maintain their accounts. Some have also questioned if the consistent censorship surrounding cannabis and other drug content may lead to gaps in education or information encouraging harm reduction.

Despite these concerns, there remains a prevailing push to ensure children are not exposed to cannabis marketing and that reform as a whole does not encourage use among people under the legal age.

Colorado is currently caught in the middle of this push and pull, as lawmakers are working to advance legislation that would force social media platforms to ban users for talking positively about, promoting or advertising cannabis and cannabis products online, along with other regulated drugs and substances.

Colorado’s Polarizing Content-Regulation Bill

The bill, SB24-158, is currently facing criticism from multiple angles. 

The legislation was recently amended to include language saying that “a social media platform may allow a user to promote, sell, or advertise medical marijuana or retail marijuana to users who are at least twenty-one years of age,” so long as the content is in compliance with state cannabis laws, Marijuana Moment reports. 

Members of the Senate Committee on Business, Labor and Technology ultimately approved the amended bill unanimously, advancing it to the Appropriations Committee.

Still, some critics argue that the revised legislation does not adequately address concerns around other substances, like psilocybin — which Colorado voters decriminalized and legalized for therapeutic use in 2022 — alongside hemp-derived products or over-the-counter cough syrups.

As it stands currently, the bill would restrict promotion of hemp-derived products with more than 1.25 mg of THC or a CBD-to-THC ratio of less than 20:1. Most other hemp-containing products meant for human consumption that are not a dietary supplement, food, food additive or herb would also be restricted.

R Street Institute’s Shoshana Weismann called out some of the issues in the bill’s initial language, stating that it has some “potentially disastrous quirks.” Speaking with Marijuana Moment, Weismann referenced that the updated bill would prevent social media users from promoting substances like Nyquil or anti-anxiety medications.

“And if you promote those medications, you will be reported to law enforcement,” Weismann told the publication via email. “That is asinine.”

Social Media Age Verification, Data Considerations

So what about the cannabis exemption for those over 21? Does allowing companies to advertise specifically to those of legal age act as a proper workaround?

The bill states that social media companies must “use a commercially reasonable process to verify each user’s age” and “retain any information obtained for age verification purposes only for the purpose of compliance and for no other purpose and to dispose of such information securely after age verification is complete.”

In a recent blog post, Weismann notes that this process is not only expensive for businesses but also would require Colorado social media users to upload sensitive information to any given social media site they use. 

“Although the bill requires platforms to dispose of this information once a user’s age is verified, the rule does not apply to third-party verifiers — rendering enforcement against them nearly impossible. Further, it doesn’t stop nefarious actors who would seek to hack such valuable information,” Weismann writes. 

The bill mandates companies to retain “any data and metadata concerning users’ identities and activities” for one year, and Weismann argues that this only makes data more enticing and accessible for hackers. 

Noting the potential First Amendment and free speech violations of the bill, Weismann also references the bill’s language prohibiting social media companies from alerting users “to the fact that a law enforcement agency is investigating the user’s activity and account,” arguing that this violates Fourth Amendment principles.

“This means that if someone is unaware the government is investigating them due to what is, in effect, a legislatively mandated gag order, they cannot fight government actions or exercise their rights,” Weismann states. “While these orders may be necessary in certain cases, it shouldn’t be an across-the-board call.”

Unanswered Questions and Uncertain Outcomes

There are a number of other potential scenarios the legislation could affect that lawmakers must still answer to. 

For example, it’s still unclear as to whether a medical patient posting about their cannabis use to social media would be banned under the legislation. Even someone posting that an over-the-counter cough syrup helped them to feel better, or Colorado Gov. Jared Polis’ (D) recent touting of the state’s emerging psychedelic industry as a positive and beneficial move, could potentially be banned under the language of the bill. 

The bill’s sponsor, Sen. Chris Hansen (D) told Marijuana Moment last month that he was “working on answers” to these questions.

Should the legislation pass, social media companies would need to update their policies and publicly post them on or before July 1, 2025. Companies would also need to submit annual reports to the state attorney general to confirm “whether the current version of the published policies contain definitions and provisions relating to illicit substances.”

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Elon Musk says that he benefits from the use of ketamine –– and investors should be pleased that he takes it –– but when he posts late at night on the social media platform he owns, he insists that he is rarely under the influence.

The Tesla CEO made all of those comments during a well-publicized interview with the journalist Don Lemon.

“There are times when I have sort of a … negative chemical state in my brain, like depression I guess, or depression that’s not linked to any negative news, and ketamine is helpful for getting one out of the negative frame of mind,” Musk told Lemon, as quoted by CNN.com. 

Per CNN, “Musk added that he has a prescription for the drug from ‘an actual, real doctor’ and uses ‘a small amount once every other week or something like that.’”

Musk’s drug use has been the subject of intense speculation and media coverage for years. The Wall Street Journal reported last year that Musk is known to use ketamine.

“Routine drug use has moved from an after-hours activity squarely into corporate culture, leaving boards and business leaders to wrestle with their responsibilities for a workforce that frequently uses. At the vanguard are tech executives and employees who see psychedelics and similar substances, among them psilocybin, ketamine and LSD, as gateways to business breakthroughs,” the Journal reported, noting that the “account of Musk’s drug use comes from people who witnessed him use ketamine and others with direct knowledge of his use.”

Following the publication of that story, Musk posted an endorsement of ketamine’s benefits.

“Depression is overdiagnosed in the US, but for some people it really is a brain chemistry issue,” Musk said at the time. “But zombifying people with SSRIs for sure happens way too much. From what I’ve seen with friends, ketamine taken occasionally is a better option.”

The Wall Street Journal also reported earlier this year on Musk’s drug use, noting that it apparently spooked some executives at his SpaceX.

That prompted NASA to issue a statement clearing the company of any illicit activity.

“The agency does not have evidence of non-compliance from SpaceX on how the company addresses the drug- and alcohol-free workforce regulations,” NASA said in a statement at the time. “We expect our commercial partners to meet all workplace safety requirements in the execution of those missions and the services they provide the American people.”

In his interview with Lemon, Musk said that his use of ketamine should not concern investors.

“From a standpoint of Wall Street, what matters is execution,” Musk said, as quoted by CNN. “Are you building value for investors? Tesla is worth about as much as the rest of the car industry combined … so from an investor standpoint, if there is something I’m taking, I should keep taking it.”

More from CNN’s report on the interview:

“While Musk said he doesn’t drink and doesn’t ‘know how to smoke pot,’ he didn’t specify whether he was talking about ketamine or another substance when he said he is ‘almost always’ sober while posting late at night…Musk also discussed the state of the core advertising business on X, which has suffered since the billionaire acquired the company formerly known as Twitter because of a rise in hateful and controversial content on the platform. Musk previously said advertisers who left X over concerns about antisemitic content could ‘go f**k yourself’ and accused them of killing the company.”

Musk’s interview with Lemon has drawn considerable attention this week for its contentious exchanges. The tension spilled over and apparently prompted Musk to cancel a planned deal with Lemon, the former CNN host, to host a new show on the social media platform X.

“Elon publicly encouraged me to join X with a new show, saying I would have his ‘full support,’” Lemon said in a statement last week.

He added that Musk’s “commitment to a global town square where all questions can be asked and all ideas can be shared seems not to include questions of him from people like me.”

At one point in the interview, Lemon asked Musk about the uptick in hate speech on the platform, formerly known as Twitter, since Musk took it over a year ago.

“I don’t have to answer questions from reporters, Don,” Musk said in response, as quoted by CNN. “The only reason I’m doing this interview is because you’re on the X platform and you asked for it. Otherwise, I would not do this interview.”

In a statement of its own, X said, “The Don Lemon Show is welcome to publish its content on X, without censorship, as we believe in providing a platform for creators to scale their work and connect with new communities. However, like any enterprise, we reserve the right to make decisions about our business partnerships, and after careful consideration, X decided not to enter into a commercial partnership with the show.”

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Billionaire Elon Musk floated spending $1 billion on a joke—specifically to rename Wikipedia as “Dickipedia,” while right-wing distrust in the open-source database grows. 

Musk broke the internet last year when he bought Twitter for $44 billion dollars and whittled it down to the bones, transforming it into a monetizing mill that charges for blue check marks, subscriptions to verified accounts, and the platform might charge all users $1 per month. Now Twitter/X is only worth one-tenth the amount it was worth when Musk bought it. Fortune reported last September that Twitter/X has lost 90% of its value and could be worth just $4 billion.  

He’s at it again, now with Wikipedia.

On Oct. 22, billionaire Musk posted a screenshot on X, formerly Twitter, showing that “Wikipedia is not for sale.” He then offered the database $1 billion if they change the Wikipedia name to Dickipedia, even if they quickly change it back.

“Have you ever wondered why the Wikimedia Foundation wants so much money? It certainly isn’t needed to operate Wikipedia,” Musk posited. “You can literally fit a copy of the entire text on your phone! So, what’s the money for? Inquiring minds want to know.” 

X users used the “Add Context” feature on the app to answer his question. “Expenses: $146m – 43-45% engineering improvements, product development, design and research, and legal support – 31-32% grants, projects, trainings, tools for contributor capacity, and support for the legal defense of editors – 13% Administration – 11-12% Fundraising,” users wrote.

The next day, Musk posted on X that he’s offering $1 billion to the platform if they change its name to “Dickipedia.” “I will give them a billion dollars if they change their name to Dickipedia,” he posted, adding that they could change the name back.

He replied to his post, adding “In the interests of accuracy.”

Wikipedia is the world’s largest database, and is using the first Google result to pop up when users ask the internet any question. Wikipedia launched on Jan. 15, 2001, before the events of 9/11. While certainly not considered an academic primary source, Wikipedia is made up of freely editable content, and the articles are hyperlinked to guide readers to more information.

The articles are written collaboratively by volunteers, known as Wikipedians, who are usually anonymous. It’s not a source, because Wikipedia articles can be edited by anyone with internet access), except in limited cases where editing is restricted.

Growing Right-Wing Distrust of Wikipedia

An 2021 article from the Cato Institute suggested that we’ve already lost the battle against disinformation on the internet, but people are currently battling over who controls the agenda on Wikipedia. Media platforms, especially in places like cable news, tend to lean right or left, and it’s constantly getting harder to filter out the nonsense.

But why do people who lean right-wing distrust Wikipedia? 

In 2022, a Wikipedia article on recession gained over 200,000 views. Right-wing conspiracy theorists claim Wikipedia manipulated its definition of a recession to favor the Biden administration.

Conservative news platform The Daily Signal speculated about left-wing Wikipedia bias. “You see the pattern comparing political donations from different professions: Surgeons, oil workers, truck drivers, loggers, and pilots lean right; artists, bartenders, librarians, reporters, and teachers lean left,” Daily Signal writer John Stossel wrote.

Elon Musk Buys Twitter

In April 2022, Musk bought Twitter with a plan to change everything.

Musk acquired Twitter, Inc. according to an April 25, 2022 press release. The move made Twitter private and set off a firestorm of speculation, but no one could foresee the dramatic changes in store. Twitter, Inc. entered into a definitive agreement to be acquired by an entity wholly owned by Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion.

Musk ran a complete overhaul of the platform formerly known as Twitter, but here’s a quick recap of some of Musk’s changes:

• Laid off 75% of Twitter staff.
• Reinstated the Twitter account of former President Donald Trump.
• Monetized the infamous blue check marks that used to indicate verified accounts based on public interest.
• Renamed and rebranded Twitter as X.
• Floated charging every X user $1 per month, just to use the platform, which already is live as a beta test in the Philippines and New Zealand.

NBC News reports that monetizing the blue check marks is fueling fake news on the Israel-Palestine war—typically old war footage or even role-player activity fronting to be new acts of violence.

“People who have paid for blue checks have a financial incentive to LARP [live action role-play] as war reporters by dredging up old stories or fake footage,” Emerson T. Brooking, a researcher at the Atlantic Council’s Digital Forensics Research Lab, wrote. “Elon Musk enables this.”

Time will tell if Musk can buy changes on Wikipedia as well.

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Major social media platforms continue to gradually warm up to cannabis. As Meta rival Twitter announced it will allow some CBD and THC ads last February, Meta is taking steps as well by continuing to loosen up restrictions for CBD-related ads. On July 11, Facebook posted an announcement, unveiling Meta’s new policy on CBD and related products in the U.S., Canada, and Mexico, and changing some of the language from hemp to CBD. 

“We want people to continue to discover and learn about new products and services on our technologies,” Facebook wrote. “Effective today, we are renaming our advertising policy Hemp & Related Products to CBD & Related Products and allowing the promotion of legally permissible, non-ingestible CBD in the U.S., with some restrictions.”

Keep in mind that these products have been legal for some purposes at the federal level since the passage of the 2018 Farm Bill, which legalized industrial hemp and hemp products with insignificant amounts or >0.3% THC on a dry-weight basis.

“Under the new policy, advertisers don’t need written permission to run ads that: Promote or offer the sale of hemp products that don’t contain CBD or >0.3% THC (e.g. hemp seed and hemp fiber) in Canada, Mexico, and the United States, provided that they comply with all applicable local laws, required or established industry codes and guidelines,” a Meta spokesperson told High Times in an email statement.

In 2019, when Facebook announced it would allow topical hemp product ads—but not ads for ingestible products. This could be in part because the FDA determined that THC and CBD products are excluded from the dietary supplement definition. The new changes clarify between hemp and CBD products and remove the written permission requirement. This also includes ads to “educate, advocate, or give public service announcements related to CBD and related products provided that such ads don’t offer any prohibited products for sale.”

This is unlikely to allow hemp-derived products marketed as psychoactive. The spokesperson continued, “Advertisers will continue to be prohibited from running ads that promote THC products or cannabis products containing related psychoactive components. Additionally, advertisers can only run ads that promote or offer the sale of legally permissible, non-ingestible CBD products that don’t contain more than 0.3% THC as long as they are: 

• Certified with Legitscript
• Have written permission from Meta
• Comply with all applicable local laws required or established industry codes and guidelines.

“Further, ads for CBD products must not target people under 18 years of age and are only allowed in the U.S.,” the spokesperson continued. 

This is a slight improvement compared to what we’re used to: Meta’s Instagram and Facebook routinely pull cannabis accounts off the platforms in a game of cat and mouse if they are deemed to violate Community Standards. There’s no indication that will stop anytime soon.

In February, Twitter announced it will now be allowing ads for CBD and THC products in certain jurisdictions. “As the cannabis industry has expanded, so too has the conversation on Twitter. In the US—one of the most influential markets for cannabis—it is larger than the conversation around topics such as pets, cooking, and golf, as well as food and beverage categories including fast food, coffee, and liquor,” Twitter wrote.

Facebook’s new app Threads—dubbed the “Twitter Killer”—grew astronomically as soon as it was released to the public, hitting 100 million users within days. Social media apps are in high competition, even in the way they regulate CBD and/or THC-related ads.

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Twitter is opening the door for advertisers of packaged weed products, the Associated Press reports, with refined changes to the announcement that it will begin allowing THC ads in addition to CBD ads last February. 

The new changes will allow packaged cannabis products in ad creative and include updated medical and adult-use cannabis markets. It’s the latest major shift on the platform since being purchased by Elon Musk in April 2022.

“As of today, in certain US states we have taken measures to relax our Cannabis Ads policy to create more opportunities for responsible cannabis marketing—the largest step forward by any social media platform,” Alexa Alianiello, of Twitter US Sales & Partnerships and Rohan Routroy, of Twitter Next wrote on a blog post on the Twitter website. 

When Twitter initially announced changes to its ad policy in February, Twitter users criticized how several features still didn’t appear to work. Users complained that features like radius targeting and conversion tracking still were not functional. It appeared that some features were in the beta stage.

The new changes could iron out some of those problems, in theory. “Going forward, Twitter is allowing advertisers to promote brand preference and informational cannabis-related content for CBD, THC, and cannabis-related products and services,” the blog post announcement reads.

The post continues, “We look forward to helping more customers unlock the power of Twitter Ads to connect with the cannabis conversation and drive their business forward.”

According to Alianiello, Twitter also added additional medical cannabis markets and adult-use markets to the platform. Several restrictions remain in place, mostly surrounding the practice of making unproven or false medical claims.

Any advertisement for cannabis and CBD content must not appeal to minors in the creative, landing pages must be age gated, and sales must be age verified; not use characters, sports-persons, celebrities, or images/icons appealing to minors; not use minors or pregnant women as models in advertising; not make claims of efficacy or health benefits; not make false/misleading claims; not show depiction of cannabis product use; not depict people using or under the influence; and not encourage transport across state lines.

A Gradual Loosening of Cannabis Rules

Twitter announced major changes to its cannabis policy in February, saying that it would allow THC, CBD, and similar ads in the U.S.

The changes were first reported by AdCann. “Up until now, only CBD topical brands were permitted to advertise on Twitter’s platform,” AdCann wrote on its website. “Moving forward—the social network will allow for the promotion of regulated THC and CBD-containing cannabis products, accessories, services and more.” 

Twitter posted the policy update on its Drugs and Drug Paraphernalia section of the website, which outlines the process for advertisers promoting cannabis products.

Elon Musk made drastic changes to the Twitter platform, notably removing the coveted blue check marks from verified accounts. Twitter Blue completely rewrote the system, instead allowing verified blue check marks to anyone who is willing to pay a small monthly fee.

This change caused an uproar among prominent Twitter users such as Stephen King, whose complaint over an unwanted blue check mark led to a personal exchange with Musk. Lebron James also announced he refused to pay for the blue check mark but was gifted one anyways.

One of Tucker Carlson’s final interviews was with Elon Musk, before being unexpectedly canned by Fox News despite being one of the platform’s biggest stars. In the interview, when confronted about the billions of dollars’ worth drop in value for Twitter, Musk said there are “some things money can’t buy.”

Time will tell if the new changes to THC and CBD ads stay in place.

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The Benzinga Cannabis Capital Conference, renowned as the world’s largest and most successful cannabis investing and finance event, is returning to the iconic Fountainbleu Hotel in Miami on April 11-12, 2023.

With over 3,000 industry operators, investors, policymakers, and advocates expected to attend, registrations have surged by 30% compared to last year, reflecting the industry’s rapid expansion. It is expected that 90% of the total cannabis market cap will be at this event, making it the perfect place to network with the top operators in the space.

Twitter and Uber Dive into the Budding Cannabis Industry 

In a major development, Twitter and Uber are set to participate in the Benzinga Cannabis Capital Conference, highlighting the increasing crossover between mainstream business and the cannabis sector.

Alexa Alianello of Twitter US Sales & Partnerships, Rohan Routroy of Twitter NEXT, as well as Jesse Young, Global Lead of New Ventures at Uber Technologies, are among the top executives scheduled to speak.

This marks the first time Twitter executives will meet with cannabis industry leaders to discuss the social media giant’s role in cannabis advertising, making it the first platform in the social media landscape to open its doors to the burgeoning industry.

Politicians Join the Conversation 

The conference will also witness the participation of prominent politicians, including Rep. Dave Joyce, U.S. Representative for Ohio’s 14th Congressional District, and Rep. Troy Carter, U.S. Representative for Louisiana’s 2nd Congressional District.

Their attendance underlines the importance of political support for the continued growth and mainstream acceptance of the cannabis industry.

A Hub for Networking and Learning Opportunities 

The Benzinga Cannabis Capital Conference offers an unrivaled platform for networking, deal-making, and knowledge-sharing among the world’s leading cannabis investors and top-performing companies. Among the star-studded lineup of speakers are Gina Collins (CMO, Trulieve), Emily Paxhia (Managing Partner, Poseidon), Tim Seymour (CNBC News Anchor, and Founder and CIO of Seymour Asset Management), Matt Darin (CEO, Curaleaf), and many more.

The event provides attendees with an exceptional opportunity to learn about thriving in the cannabis business amid challenging market conditions, discovering the next generation of industry-leading businesses, and understanding what investors are seeking in today’s market. Attendees will also have the chance to connect with CEOs and decision-makers from top industry companies, gain insider access to celebrities, and drive public opinion and narratives via the largest financial media voice in the sector.

The 2023 Benzinga Cannabis Capital Conference is set to be an indispensable event for cannabis entrepreneurs and investors looking to forge new partnerships, generate meaningful ventures, and engage in vital conversations about the current state of the industry.

Check out the full lineup here and get your tickets here. Prices are surging fast! 

Ten reasons to join the Benzinga Cannabis Capital Conference: 

1. Learn how to thrive in your cannabis business amid a bear market. 

2. Discover the next generation of industry-leading businesses. 

3. Identify exclusive opportunities for retail investors. 

4. Gain invaluable tactics from the most profitable businesses. 

5. Learn what investors are looking for in a challenging market. 

6. Network with CEOs and decision-makers from top companies in the industry. 7. Gain insider access to celebrities sharing their stories and brand-building secrets. 8. Ask industry leaders and celebrities your burning questions and receive real-time answers. 

9. Drive public opinion and your own narrative via the largest financial media voice in the industry. 

10. Connect with your next investor or co-founder and make lasting friendships.

BONUS: Don’t miss the tantalizing Benzinga Cannabis Capital Conference afterparty, an irresistible evening set for April 12 at the illustrious LIV nightclub, nestled within the iconic Fontainebleau Hotel. Prepare to be mesmerized by scintillating performances from seductive artists like Lexy Panterra and a plethora of enticing surprises that await you.

The Benzinga Cannabis Capital Conference is designed to help cannabis entrepreneurs and investors make the most of their time, offering an unparalleled opportunity for networking, deal-making, and learning from the world’s leading cannabis investors and top-performing companies.

Don’t miss out on this year’s exceptional speaker lineup, including: 

● Alexa Alianiello, Twitter US Sales & Partnerships 

● Rohan Routroy, Twitter NEXT

● Rep. Dave Joyce, U.S. Representative for Ohio’s 14th Congressional District

● Rep. Troy Carter, U.S. Representative for Louisiana’s 2nd Congressional District

● Jessie Young, Global Lead, New Verticals, Uber Technologies 

● Gina Collins, CMO, Trulieve 

● Emily Paxhia, Managing Partner, Poseidon 

● Tim Seymour, CNBC News Anchor and Founder and Chief Investment Officer of Seymour Asset Management (SAM) 

● Matt Darin, CEO, Curaleaf 

● Weldon Angelos, Founder and President, The Weldon Project 

● Darren Weiss, COO, Verano Holdings 

● David Goubert, President and CEO, Ayr Wellness 

● Matt Hawkins, Co-Founder and Managing Partner, Entourage Effect Capital

● Kristi Palmer, Co-Founder, Kiva Confections 

● Kelly Flores, COO, Wana Brands 

● Jason Wild, CIO and President at JW Asset Management 

● Wendy Berger, Board Member, Green Thumb Industries 

● Paul Weaver, Director and Head of Cannabis at Boston Beer 

● Gia Morón, President of Women Grow

“Cannabis businesses have closed deals in aggregate north of $1.5-$2 billion at our prior events. And get ready: the 2023 conference will be even larger, with a record level of investment capital and top-notch operators,” says Chief Zinger Jason Raznick.

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In a seismic shift away from the way nearly all major social media platforms handle cannabis ad-related content, Twitter announced it will be the first to allow cannabis-related ads based in the U.S. 

Twitter announced that it will allow advertisers to promote branded and informational cannabis-related content under the following categories: CBD and similar cannabinoid products; THC and similar products; as well as cannabis-related products and services such as delivery services, labs, growing technology, search engines, and events.

The cannabis ad policy move changes everything for businesses with the money to advertise. Toronto, Ontario-based AdCann in Canada was the first to break the news.

“Up until now, only CBD topical brands were permitted to advertise on Twitter’s platform,” AdCann wrote on its website. “Moving forward—the social network will allow for the promotion of regulated THC and CBD-containing cannabis products, accessories, services and more.” 

AdCann continued, “American cannabis companies, brands, and purveyors will need to pass through a Twitter advertiser approval process to ensure they are legitimate and educated on the platform. Once approved, industry marketers will have access to Twitter’s entire suite of advertising products including promoted tweets, promoted product opportunities, location-specific takeovers, in-stream video sponsorships and partner publication features.”

AdCann reiterated that in Canada, cannabis has been legal at the federal level since 2018, so Twitter already allows for cannabis advertising in the country.

Cannabis Companies React to Policy Change

Leading cannabis company PAX, makers of industry standard devices like the PAX Pro and PAX Era, is among the first brands to advertise cannabis-related content on Twitter. 

“This is a big moment, as a major advertising platform is making the decision to treat cannabis like any other consumer products category,” Luke Droulez, VP of Marketing at PAX said in a statement obtained by High Times. “We’re excited to be among the first of Twitter’s cannabis advertising partners and be able to engage customers more directly. After decades of prohibitionist propaganda, there is an opportunity to destigmatize and normalize the plant and its use.”

Twitter posted the policy update on its Drugs and Drug Paraphernalia section of the website, which outlines the process for advertisers promoting cannabis products.

“We permit approved cannabis (including CBD – cannabinoids) advertisers to target the United States, subject to the following restrictions:

• Advertisers must be licensed by the appropriate authorities, and pre-authorized by Twitter.
• Advertisers may only target jurisdictions in which they are licensed to promote these products or services online.
• Advertisers may not promote or offer the sale of cannabis (including CBD – cannabinoids)
  • Exception: Ads for topical (non-ingestible) hemp-derived CBD topical products containing equal to or less than the 0.3% THC government-set threshold.       
• Advertisers are responsible for complying with all applicable laws, rules, regulations, and advertising guidelines.
• Advertisers may not target customers under the age of 21.”

Elon Musk and the New Twitter

Twitter owner and billionaire Elon Musk is in an ongoing game of chess: It’s the latest major change on the platform under his watch, among many, including the decisions to launch paid verification and reinstate accounts like Donald Trump’s.  

Meanwhile, on Feb. 4, Twitter owner Elon Musk cryptically tweeted “420,” which assuredly is a jab back at a previous 2018 tweet about 420 that landed him in trouble with government and aerospace officials.

In 2018, Musk rounded up Tesla shares from $419 to $420, announcing his plan to go private in a tweet. “Am considering taking Tesla private at $420,” Musk tweeted on Aug. 7, 2018. “Funding secured.”—sending officials from The Securities and Exchange Commission (SEC) into a tailspin. Musk denied the tweet was about cannabis in a California court.

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While most platforms push back against cannabis content, the bird is now welcoming weed ads, and even offering financial incentives to new ad buyers.

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During a California court appearance Monday, when questioned about a 420 tweet, Elon Musk suddenly forgot the significance of the number in pot culture. The tech billionaire responded after being cornered by a prosecutor representing Tesla employees for a class action lawsuit alleging he tweeted and misled shareholders about the price of Tesla shares.

The fiasco began several years ago. In 2018, Musk rounded up Tesla shares from $419 to $420, announcing his plan to go private in a tweet. “Am considering taking Tesla private at $420,” Musk tweeted on Aug. 7, 2018. “Funding secured.”—sending officials from The Securities and Exchange Commission (SEC) into a tailspin.

Musk said he tweeted the share price based on what he said was a “firm commitment” from Saudi Arabia’s Public Investment Fund (PIF) to take Tesla private. But about 10 days later, Musk admitted that the Tesla buyout he had envisioned wasn’t going to materialize.

After an investigation, the SEC fined Musk $40 million, forcing the billionaire to step down as chair of Tesla’s board. The SEC said that Musk misled investors. In the SEC’s complaint, Musk was accused of rounding up the share price to $420 from $419 “because he had recently learned about the number’s significance in marijuana culture.” 

Musk caused instantaneous uproar about a month later, sparking a blunt with Joe Rogan on his show “The Joe Rogan Experience” on Sept. 3, 2018, shocking Tesla investors and officials across the board. His troubles didn’t end there. High Times asked if it was “the most expensive blunt of all time” due to the fallout, with NASA- and SpaceX-associated officials reviewing his security clearance.

The Verge reports that Nicholas Porritt is an attorney for a class of Tesla investors suing Musk for millions of dollars that they say resulted from his failure to take Tesla private. 

The courtroom got tense: “You rounded up to 420 because you thought that would be a joke that your girlfriend will enjoy, isn’t that correct?” Porritt asked. “No,” Musk said, adding, “there is some, I think, karma around 420. I should question whether that is good or bad karma at this point.”

Musk said that 420 wasn’t a weed joke, but a roughly 20% premium on the $419 stock price at the time. “420 was not chosen because of a joke,” Musk testified. “It was chosen because there was a 20 percent premium over the stock price.” Musk also claimed that it was a “coincidence.”

The jury will decide if Musk should have to pay out up to billions of dollars in damages to Tesla shareholders for the money they lost due to his tweets.

Judge Edward Chen ruled that the jury should be aware that Musk’s 2018 tweets are false. Jurors will now need to decide whether Musk deceived Tesla shareholders because of his tweets.

Musk said that he was not relying on a commitment for the Saudi PIF when he tweeted “funding secured,” adding that his shares in SpaceX would also help fund the deal to take Tesla private. “Just as I sold stock in Tesla to buy Twitter… I didn’t want to sell Tesla stock, but I did sell Tesla stock,” Musk said. “My SpaceX shares alone would have meant that funding was secured.”

Musk has also been sued by a group of former Twitter employees after a mass firing. Musk recently became the CEO of Twitter after buying the platform for $44 billion in October 2022. Saudi Prince Alwaleed bin Talal bin Abdulaziz is Twitter’s second-largest shareholder after Musk. 

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This week: Nikki Fried, Florida’s highest ranking Democrat, sues Joe Biden over weed and guns. Also: What Elon Musk’s Twitter takeover could mean for cannabis.

The post The Roll-up #239: Nikki Fried tells us why she’s suing Joe Biden over cannabis and guns appeared first on Leafly.

The post The Roll-up #239: Nikki Fried tells us why she’s suing Joe Biden over cannabis and guns appeared first on Paradise Found.