Amazon’s recent decision to remove hemp oil from its online catalog will have a ripple effect that will be felt far and wide. The global impact will likely not be as significant as the effects of the United States’ war on drugs, but its consequences will still likely be felt across the globe.
The recent decision by Amazon to stop selling certain e-commerce products containing marijuana, which includes all but a few states in the U.S., is generating a lot of buzz. Here’s why: Amazon is a powerful player in the $36.3 billion global cannabis market and its decision is likely to have ripple effects throughout the industry.
It’s no secret that Amazon is one of the largest companies in the world. It would be the third largest company in the world. Amazon’s total online net revenue is estimated to be around $386 billion by 2020. This figure does not include revenue from other products and services sold by Amazon. Amazon has literally revolutionized the way consumers shop, much to the chagrin of small and large retailers. This is the case all over the world. With that in mind, it was very, very important that Amazon recently announced it was updating its cannabis policy.
Amazon’s policies are on the right side of history
According to employment data, Amazon employs about 1.3 million people worldwide, and that number is growing every year. This makes Amazon the second largest employer in the world. Until recently, Amazon required potential employees to take and pass a drug test. One of the demands was a ban on the use of cannabis. Amazon still requires a drug test, but the presence of THC in the results is no longer a disqualifying factor. In the past, like many other employers, we have suspended people at Amazon if they tested positive for marijuana, the company said in a blog post. But as the laws in the United States change, we have changed course. The public announcement went beyond a simple change in drug testing guidelines. It also contained strong language in favor of legalization.
Support for the MORE Act
In addition to reforming its cannabis testing policy, Amazon also said the following in a statement: And because we know this issue is bigger than Amazon, our policy team will actively support the Marijuana Opportunity Reinvestment and Relief Act of 2021 (MORE Act), federal legislation that would legalize marijuana on a federal level, lift criminal records and invest in affected communities, the press release said. We hope that other employers will join us and that the politicians will act quickly to pass this bill. Given Amazon’s size and influence around the world, it’s safe to say that other countries will join Amazon on the right side of history, at least when it comes to cannabis policy.