Mexico's President Lopez Obrador Slams NBA's New Cannabis Policy

The NBA has eliminated cannabis testing for players and is considering allowing them to invest in NBA and WNBA teams, as well as promote and/or invest in sports betting and cannabis companies. Until now, NBA players have been prohibited from participating in cannabis sponsorships or business ventures.

While some personalities are optimistic about the NBA's new rules, others are openly against them. 

Former Athletes Are Optimistic

Several former NBA players are already supporting the legalization of cannabis, with many advocating for its use and opening their own cannabis shops or creating their own cannabis brands.

Some notable examples include Al Harrington, who co-founded Viola Brands in Los Angeles; Kevin Durant, who partnered with Weedmaps to help remove the stigma around marijuana use among athletes; and Chris Webber, who founded Webber Wellness and collaborated with Jason Wild of JW Asset Management to establish a $100 million cannabis impact fund.

Other former athletes such as Mike Tyson, are also involved in the cannabis industry. Former boxing champion Mike Tyson is encouraging basketball players to use his marijuana products following the NBA's new cannabis testing policy.

In a recent interview with TMZ Sports, Mike Tyson commented on the NBA's new cannabis testing policy and recommended his own brand of marijuana to basketball players, calling it the "best in the world." 

He also expressed optimism about the future of the cannabis industry, stating that he looks forward to it becoming a common superfood available in stores and gas stations worldwide.

Critiques From Mexico’s President

However, the NBA’s announcement has not been endorsed by all. Mexican President Andres Manuel Lopez Obrador took to Twitter to respond to the NBA and aired other grievances about the United States.

“They threaten to invade, they sell high-powered weapons (...) they do nothing for their young people, they suffer —unfortunately— from the terrible and deadly fentanyl pandemic, but they do not address the causes. They are not concerned with well-being, only money, nor do they strengthen moral, cultural, and spiritual values," Lopez Obrador tweeted. "Nor do they limit drug use, on the contrary, they encourage it even in sports. It's sad and decadent.” 

Want to know more about the latest industry trends? Join us at the Benzinga Cannabis Capital Conference on April 11-12. This is the place where DEALS GET DONE, where money is raised, M&A conversations start and companies meet investors and key partners.

Don’t miss out on the opportunity to meet Mike Tyson. Secure your tickets now before prices go up.

Photo by Jorge Aguilar on Unsplash

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisNewsMarketsAMLOAndres Manuel Lopez ObradorBenzinga Cannabis Capital ConferenceMexico CannabisMIke TysonNBA
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!
CCC-Oct-24-Banner-1

Click on the image for more info.

Cannabis rescheduling seems to be right around the corner

Want to understand what this means for the future of the industry?

Hear directly for top executives, investors and policymakers at the Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. 

Get your tickets now before prices surge by following this link.