CEO of Mike Tyson, Ric Flair, and Hulk Hogan’s $160 Million Empire Reveals How National and State Laws Impact Their Cannabis Business (Exclusive)

Published 10/08/2023, 2:30 PM EDT

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It isn’t news that legendary boxer Mike Tyson owns a fledgling cannabis business. Established two years ago, Tyson 2.0 is a leader in the industry with an award-winning lineup of cannabis products and accessories. The products from the brand are sold in over 100,000 stores in 17 countries. In this pursuit of Tyson, names like Ric Flair and Hulk Hogan have joined the bandwagon in the emerging industry.

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Recently, EssentiallySports’ Noah Lack interviewed the co-founder and CEO of Tyson 2.0, Adam Wilks. In the conversation, Wilks touched upon the growth of the cannabis industry in the country. One important line of discussion was how recreational weed establishments navigate through the state and federal laws of the country.

From Medical to Recreational use, Mike Tyson’s cannabis company has seen it all

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In an exclusive conversation with EssentiallySports, Adam Wilks revealed that ever since Tyson 2.0‘s inception, the business has seen a huge chunk of states go from allowing medical weed consumption to legalizing the use of it for recreational purposes. He explained, “A lot of the markets that we’re in, we’ve been able to transition with the government approval and state’s recs. So we’ll go into markets that are medical and through the last couple of years most of them have been converted into recreational, which we’ve been able to watch the transition and ride the wave and sales obviously follow.” Tyson’s first rodeo in this sphere came in the year 2018 with the launch of his 40-acre cannabis ranch in California.

Further, giving examples of states that have worked well for Tyson 2.0, Wilks said, “Maryland is a good example, it was great for us medically, when it went rec, sales just skyrocketed. Missouri, another great example. Missouri is one of our stronger markets. I mean, a lot of these… people always think California, New York, and Florida … Colorado, but you’d be surprised. A lot of the new markets where there’s less, I don’t wanna but there’s less education on the cannabis knowledge.” Both Maryland and Missouri are the most recent states to have legalized the use of marijuana for recreational purposes.

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“Federal and legal across the nation,” hopes Adam Wilks 

The CEO, when outlining how more states in the country are legalizing the use of cannabis, said, “States like Misissipi, just launched Tyson 2.0 and Ric Flair in Misissipi. A state where you would never think you’d be legally smoking weed, right?” Tyson 2.0 launched their products in the state in March of 2022.

Wilks said, “It’s only a matter of time that we’ll be federal and legal across the nation. As you’ve seen in recent news, the Safe Banking Act is moving forward. Something that we’ve all been pushing for a long time so that you know cannabis companies and cannabis brands can bank their capital. And just have access to capital, you know?”

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Today, when most states have legalized the use of recreational marijuana, the process of opening up the space began in 1996. California became the first state to legalize the use of cannabis on medical grounds. Years later, in 2012, Washington and Colorado became the first states to allow the legal use of marijuana for recreational purposes.

Since then, 23 states and 3 US territories have legalized the recreational use of marijuana. Today, this area has become a potential ground for businesses to flourish. One such remains Mike Tyson’s Tyson 2.0.

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What do you think of Wilks’ revelation about the legalization of recreational marijuana in the country?

Watch This Story: Watch: Mike Tyson Smokes Blunt Bigger Than His Head

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Written by:

Mohammed Shafiulla

704Articles

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My affinity toward combat sports began when Dad would spend late nights watching reruns of famous Indian wrestlers battling it out in WWE. But with years, having lost touch with the sport, I found an opportunity to be a part of it yet again, and this time even contribute toward it through my writing. Hello! I am Mohammed Shafiulla R.
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Edited by:

Gokul Pillai

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