Uber CEO Dara Khosrowshahi told CNBC Monday that the ride-sharing company could get into cannabis delivery if federal laws change.
“When the road is clear for cannabis; when federal laws come into play, we’re absolutely going to take a look at it,” Khosrowshahi told CNBC’s TechCheck.
Marijuana remains a Schedule 1 drug under federal guidelines along with ecstasy, LSD, heroin, and magic mushrooms. However, 16 states and the District of Columbia have legalized cannabis for recreational use, leading many to believe federal legalization is on the horizon. Thirty-six states have legalized marijuana for medical use. In the last month alone, New York, Virginia, and New Mexico have all legalized recreational cannabis for adults.
Cannabis delivery services are currently available in California, Nevada, and Oregon without restrictions. Khosrowshahi said on TechCheck that for now, the company will continue its focus on the delivery of food and alcohol, but that could change if federal law does as well.
“For right now with grocery, with food, with alcohol, etc., we see so much opportunity out there, and we’re going to focus on the opportunity at hand,” Khosrowshahi said according to Business Insider.
The U.S. cannabis market is already worth more than $10 billion and is skyrocketing. According to Globe News Wire, the U.S. cannabis market is expected to double to $45.1 billion by 2025. More than $16 billion of that will be from medical marijuana sales, while adult-use sales are expected to reach $25.1 billion.
Additionally, increased consumer access in markets that recently passed recreational use is expected to reach $1.2 billion in revenue by 2022.
Many states that have passed recreational use, have also committed to ensure the communities most impacted by the war on drugs also receive the benefits of legalization. In New York City, 40% of cannabis tax revenue will go to minority communities where Black and Hispanic residents have had a disproportionate number of marijuana-related arrests.
In Virginia, 30% of cannabis tax revenue will go to a fund aimed at communities that have been historically over-policed for cannabis-related crimes.