CBS has declined a Super Bowl television advertisement requiring the legalization of medical marijuana sponsored by one of the biggest cannabis investment firm.
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Cannabis is now legal in some form in 33 US states and the Trump administration, while making no transfer to decriminalize cannabis at a federal level, has revealed no interest in enforcing existing statutes that would impact the fast-growing, multibillion marijuana industry.
But the still-fluid legal situation appears to have actually put CBS off taking the advertisement from New York-based < a href=" https://www.bloomberg.com/quote/ACRGF:US" title=" Bloomberg Quote: Acreage" class =" u-underline
” > Acreage Holdings during the 3 February game between New England Patriots and the Los Angeles Rams.” We’re dissatisfied by the news but somewhat unsurprised,” Allen informed CNN Company. “Still, we developed the ad in the spirit of a public service announcement. We feel it’s our obligation to advocate on behalf of our patients.”
Scott Greiper, the president of Viridian Capital Advisors, among the biggest investment advisors in the area, said the challenging legal status of marijuana “causes big business like CBS concern to promote a federally prohibited substance”. He added: “It’s regrettable, and it’s conservative, however their concerns are legitimate.”
Acreage Holdings is one of the largest players in the United States market and features a specified vision” in the transformational power that marijuana has to recover and change the world” and an objective to bring” safe, cost effective cannabis to everyone who needs it”.
Highlighting how rapidly the marijuana business has actually moved from its counterculture roots, the business counts the previous Home speaker John Boehner and previous Canadian prime minister Brian Mulroney amongst its board members.
Acreage, which is value d at more than$ 2.4 bn, was proposing to broadcast the ad, which would have cost $5m for a 30-second spot, to “create an advocacy project for constituents who are being lost in the discussion” of the medical cannabis debate, according to Allen.
The Super Bowl is the most high profile advertising occasion of the year where companies and advocacy groups defend slots that will be seen by its huge audience. In 2015′s video game attracted 103.4 million TV audiences.
While the advertisements might be weed free, the gamers won’t be. Most of NFL gamers smoke marijuana, according to gamers, many to assist deal with injuries– and a big percentage of NFL fans do too.
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