Twitter further eases US cannabis advertising rules, adds new markets
Following recent updates to its policy that would finally allow for cannabis advertising on the platform, Twitter is further loosening its limits on cannabis industry advertising, reports MJ Biz Daily.
The site will now enable vetted, state-legal businesses to show packaged cannabis products in their marketing campaigns while allowing ads in new U.S. markets.
The publication reports that the site will be permitting medical cannabis ads targeting users in Alabama, Arkansas, Florida, Minnesota, Mississippi, Missouri, Oklahoma, Pennsylvania, Puerto Rico, Rhode Island, South Dakota and West Virginia, and Adult-use cannabis ads will also be permitted in Missouri’s new adult-use market.
Alexa Alianiello, Twitter’s head of sales and partnerships, told MJ Biz Daily that Twitter’s decision to allow images of packaged cannabis products brings “a lot more opportunity for these brands to reach consumers and teach them about the actual product, (as opposed to) it just being a brand-awareness type of play.”
Why Are Cannabis Stocks Trading Higher Today?
Benzinga reports that cannabis stocks shot up in Thursday’s pre-market and are holding following the reintroduction of the SAFE Banking Act in Congress on Wednesday.
Under which, financial institutions would be allowed to provide banking and financial services to legal cannabis businesses.
Congressman Earl Blumenauer (D-OR), founder and co-chair of the Congressional Cannabis Caucus, stated: “This legislation will save lives and livelihoods. It is past time that Congress addresses the irrational, unfair, and unsafe prohibition of basic banking services to state-legal cannabis businesses.
“The House has passed the SAFE Banking Act on a bipartisan basis seven times. I am delighted that the Senate is joining us in making it a priority.”