Will Twitter’s New Cannabis Ad Rules Bring More Revenue for Elon Musk?

Twitter became the first major social media company to allow cannabis ads earlier this year under its 420-friendly ownertech. Now, the platform is relaxing regulations in an effort to lure more advertisers from US states where marijuana is legal.

“Going forward, certified advertisers may feature cannabis products in ad creatives,” Twitter said in a post on its website. Previously, cannabis advertisers could not feature a product in their ads, nor could they actually promote their sale.

“They may continue to responsibly link their owned and operated web pages and e-commerce experiences to CBD, THC and cannabis-related products and services,” Twitter said.

Billionaire Tesla CEO has been forced to undertake drastic cost cuts and scramble to find more sources of revenue to justify his $44 billion purchase of Twitter. The platform also lifted its ban on political ads in January.

Still, companies interested in advertising cannabis products on Twitter must comply with a long list of rules. They must be licensed and pre-authorized by Twitter, must target only jurisdictions where they are licensed and must avoid targeting anyone under the age of 21, among other policies.

Facebook parent Meta, Google and other major tech companies ban cannabis ads. Google allows ads for FDA-approved CBD products and topical, hemp-derived CBD products with a THC content of 0.3% or less in California, Colorado, and Puerto Rico, but not for marijuana in states where it’s legal .

Musk was widely associated with marijuana use in 2018 when he tweeted that he was considering buying Tesla for $420 a share – a price widely believed to have occurred at a specific time on the afternoon of April 20. The tie was supposed to be when cannabis users celebrate annually. medicine by participating in it. Shortly after that August 2018 tweet, Musk smoked a marijuana joint on a podcast with Joe Rogan.

In a trial focused on whether Musk’s buyout tweets misled Tesla investors, Musk testified that his offer price was not a marijuana reference, while acknowledging why people might think so.

“There is some, I think, karma around 420. I must question whether it is good or bad karma,” Musk said on the witness stand.

The origin of the term “420” was generally long obscure. Some claimed it referred to a police code for marijuana possession or that it originated from a Bob Dylan song.

But a consensus has emerged that it began with a group of California high school students in the 1970s. With marijuana widely illegal at the time, a friend’s brother feared being busted for a patch of cannabis he was growing in the woods at Point Reyes, north of San Francisco, so he drew a map and The teenagers are allowed to harvest, the story goes.

During the fall of 1971, at 4:20 p.m., right after classes and football practice, the group would meet near the school’s statue of chemist Louis Pasteur, smoke a joint and head out to search the weed patch. They never found it, but the number stuck.

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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)