Who Funds Marijuana Legalization?

AltriaMaker of Marlboro

Altria bought 45% of Canadian marijuana producer Cronos Group, took four of seven board seats, and signed a global marijuana exclusivity deal.

British American TobaccoMaker of Camel, Newport, Lucky Strike

BAT has poured three rounds of money into Canadian marijuana producer Organigram: C$221 million for 19.9% in 2021, C$124.6 million in 2023 to 2025 (including a C$83 million "Jupiter" fund for U.S. and overseas deals), and C$65.2 million in 2026 to buy Germany's Sanity Group.

British American TobaccoCharlotte's Web (CBD)

BAT bought a $56.8 million convertible note in Colorado CBD company Charlotte's Web, put $10 million into a joint venture to seek FDA approval for a hemp-extract drug, and added $10 million more in equity in 2026.

Philip Morris InternationalMaker of Marlboro outside the U.S.

PMI's pharma arm agreed to invest $120 million in Israeli marijuana-inhaler company Syqe Medical, with a commitment to buy the whole company for up to $650 million if its inhaler wins FDA approval, according to Calcalist, Forbes and MJBizDaily. PMI first seeded Syqe with $20 million in 2016.

Imperial BrandsMaker of Winston, Kool, blu

Imperial bought a C$123 million convertible note in Canadian marijuana producer Auxly, took a board seat, licensed its vaping technology to Auxly and made Auxly its exclusive global marijuana partner.

Altria and CPEARLobbying for federal legalization

Altria co-founded the Coalition for Cannabis Policy, Education, and Regulation (CPEAR) with Molson Coors, Constellation Brands and the convenience-store lobby to push a federal marijuana framework. Altria says it "supports the federal legalization of cannabis" and registered to lobby for legalization in Virginia.

The Zig-Zag rolling-paper company built a marijuana portfolio: $15 million into THC brand dosist, an $8 million note in THC brand Old Pal, 20% of hemp-cigarette maker Wild Hempettes, 19.99% of a CBD maker, and a Bob Marley marijuana products deal.

Bought GVB Biopharma, one of the largest U.S. hemp-cannabinoid ingredient makers, in a stock deal reported at about $55 million.

Bought two Canadian marijuana producers (rebranded FIGR) and ran a U.S. hemp and CBD venture.

Constellation BrandsMaker of Corona, Modelo

Constellation paid C$5 billion (US$4 billion) for about 37% of Canadian marijuana producer Canopy Growth, the largest investment in the industry's history, and installed its executives on Canopy's board.

Anheuser-Busch InBevMaker of Budweiser, via Labatt

AB InBev's Labatt formed a joint venture with Tilray to develop THC and CBD drinks for Canada, with each side committing up to $50 million.

Anheuser-Busch and Molson CoorsCraft beer brands sold to Tilray

Anheuser-Busch sold eight craft beer brands (Shock Top, Blue Point, 10 Barrel, Redhook and others) to marijuana company Tilray for $83.4 million. Molson Coors sold four more brands to Tilray a year later. Tilray became the fifth-largest U.S. craft brewer.

Molson CoorsMaker of Coors, Miller

Took a 57.5% controlling stake in Truss Beverage, a marijuana-drink joint venture with Canadian producer HEXO, then launched a U.S. CBD drink venture in Colorado in 2020.

The liquor distributors' lobby launched a campaign to have intoxicating hemp THC drinks regulated and sold through the alcohol system instead of banned, and endorsed the House "Beverage Regulatory Parity Act" in August 2026. It cites $28.4 billion in "potential market activity."

Total Wine, Spec's, ABC, BevMoBeverage Alcohol Merchants Coalition

The country's largest liquor chains now stock hemp THC drinks (Total Wine carries Wana, Curaleaf, Brēz and Tilray brands in multiple states) and formed a coalition to lobby Congress for a carve-out from the federal hemp ban. NielsenIQ puts THC drink retail sales near $250 million, about $150 million of it in liquor stores.

Agreed to invest $9.2 million in Canadian producer CannTrust in 2018 as its exclusive distributor. In March 2026 it began distributing intoxicating hemp THC drinks (Houseplant, Cheech & Chong, Quirk) starting in Minnesota.

More than 50 alcohol wholesalers urged Congress not to ban intoxicating hemp, writing that "as demand for alcohol has shifted downwards in recent years, hemp products have created jobs." Beer wholesalers in Alabama, Wisconsin, Kentucky, Arkansas, Georgia and Texas now carry hemp THC seltzers.

Boston Beer CompanyMaker of Samuel Adams, Truly

Created a marijuana subsidiary and sells TeaPot THC iced teas and Emerald Hour THC "cocktails" in Canada at up to 10 mg THC per can. Reuters reported it has tested a hemp-derived U.S. version.

HeinekenVia Lagunitas Brewing

Heineken-owned Lagunitas launched Hi-Fi Hops, a THC sparkling water made with a California marijuana manufacturer and sold in dispensaries.

Southern Glazer's Wine & SpiritsLargest U.S. wine and spirits distributor

Signed U.S. distribution deals for marijuana companies' CBD drinks: Canopy Growth's Quatreau in seven states and Tilray's CBD beverages in 13 states, plus Charlotte's Web and Curaleaf Hemp.

Pabst BrewingPabst Blue Ribbon

Licensed the Pabst Blue Ribbon name to a California marijuana company for a THC seltzer sold in dispensaries, one of the first major beer brands on a THC product.

Jazz PharmaceuticalsAcquirer of GW Pharmaceuticals

Jazz bought GW Pharmaceuticals, maker of Epidiolex (the only FDA-approved plant-derived CBD drug) and the marijuana-extract spray Sativex, making a mainstream drug company the largest owner of marijuana-derived prescription products in the world.

Jazz PharmaceuticalsFederal lobbying on hemp and CBD

The owner of Epidiolex retained Washington lobbyists to work on "regulation of intoxicating hemp," FDA and HHS CBD policy, and appropriations language on FDA enforcement against non-approved CBD products, the products that compete with its prescription CBD.

PfizerAcquirer of Arena Pharmaceuticals

Pfizer's $6.7 billion purchase of Arena brought in olorinab, an oral cannabinoid drug candidate, which the marijuana trade press hailed as Pfizer's entry into cannabinoid medicine. The deal was driven mainly by Arena's non-cannabinoid drugs.

Novartis (Sandoz)Global partnership with Tilray

Novartis's generics arm Sandoz signed a global agreement with marijuana producer Tilray to co-brand, supply and market non-smokable medical marijuana products and to educate physicians and pharmacists everywhere medical marijuana is legal. Tilray stock jumped 22% on the news.

Teva PharmaceuticalVia subsidiary S.L.E., Israel

Teva's Israeli distribution arm signed a strategic deal to distribute Canndoc's medical marijuana products to pharmacies, hospitals and HMOs across Israel.

Insys gave $500,000 to defeat Arizona's 2016 legalization measure while telling the SEC that legal marijuana would compete with its synthetic THC drug. In 2018 it asked the DEA for permission to manufacture marijuana and THC in bulk.

AbbVieMarinol (dronabinol)

AbbVie marketed Marinol, the original FDA-approved synthetic THC capsule, then sold the brand, its approval and manufacturing to India's Alkem Laboratories for about $10 million.

Theresa FirestoneFormer Pfizer regional president

Former Pfizer executive appointed to the board of Canadian marijuana producer Aurora Cannabis during its board overhaul.

TrulieveFlorida ballot campaigns

Trulieve supplied $144.6 million of the $153.8 million (94%) behind Florida's 2024 Amendment 3 to legalize recreational marijuana, then put at least $32.4 million more into a 2026 re-run.

Six marijuana companies gave $11.5 million in a single month to a super PAC whose treasurer also runs Trump's MAGA Inc.: Trulieve, Curaleaf, Verano and Green Thumb $2.5 million each, AYR Wellness $1 million, Ascend $500,000. The PAC is running ads for vulnerable House Republicans, including some who voted against legalization.

The industry's own super PAC, chaired by a Curaleaf executive and funded by the five biggest operators (Verano $1.04 million, Green Thumb $1 million, Cresco $750,000, Curaleaf $750,000, Trulieve $250,000), gave $1 million to Trump's MAGA Inc., $1.5 million to America First Agriculture Action, and paid Trump-world vendors about $1.5 million for pro-rescheduling ads aired near the White House and Mar-a-Lago.

Trulieve and CuraleafTrump inauguration and access

Trulieve gave $750,000 to the Trump-Vance Inaugural Committee. Curaleaf routed $250,000 through the U.S. Cannabis Council. Trulieve CEO Kim Rivers attended a $1 million-per-couple Vance dinner and an August 2025 Bedminster fundraiser where Trump said he was "interested" in rescheduling. Reporters tallied at least $2 million in industry giving to Trump-aligned entities before the order.

CuraleafExecutive Chairman Boris Jordan

The world's largest marijuana company by revenue. Jordan, a private-equity financier, became the industry's first billionaire in 2019. Curaleaf funds every major industry political vehicle: $2.5 million to America First Agriculture Action, $750,000 to the industry super PAC, $250,000 to Trump's inauguration, $3 million to Florida Amendment 3, $220,000 to Ohio Issue 2, and about $530,000 a year in federal lobbying.

TrulieveCEO Kim Rivers

The industry's most aggressive political spender. Federal lobbying doubled to $300,000 in one quarter of 2026. Trulieve retains Trump-connected firms Ballard Partners, Advocus Partners and Rubin Turnbull, paid influencer Rogan O'Handley more than $160,000 for pro-rescheduling posts, and spent $87 million with GOP firm Ax Media on its Florida campaign.

Green Thumb, Verano, CrescoThe rest of the "big five"

The five largest marijuana companies in the world are all U.S. multistate operators, and together they supply nearly all the industry's political money. 2025 revenue: Green Thumb $1.18 billion, Verano $822 million, Cresco $656 million. Cresco was the industry's single largest federal lobbying client in 2024 at $1.15 million. Green Thumb and Verano each gave $2.5 million to the Trump-linked super PAC and about $1 million each to the industry super PAC.

The National Cannabis Roundtable and U.S. Cannabis Council (about $600,000 a year each in federal lobbying) merged in 2025 into the U.S. Cannabis Roundtable. The Coalition for Cannabis Scheduling Reform unites 70+ members, including Scotts Miracle-Gro, to win Schedule III. ATACH hired a legal team to defend Schedule III, funded partly by a "Round Up for Rescheduling" checkout program at 6,500 dispensaries. The marijuana groups also lobbied for the 2025 federal hemp ban to eliminate competitors.

Ahead of the rescheduling order, marijuana companies hired lobbyists with direct Trump ties: Brian Ballard (three-decade Trump relationship), Bryan Lanza (Trump transition), Daniel McFaul (former Gaetz chief of staff), Nick Iarossi's Advocus, David Urban's BGR (for Verano), and Rubin Turnbull, whose leadership includes the daughter of White House Chief of Staff Susie Wiles. The industry spent more than $3.2 million on federal lobbying in 2025. Trump pollster Tony Fabrizio was paid six figures by the industry super PAC. Former Trump adviser John Pence registered to lobby for Team Hemp in November 2025.

Ohio Issue 2 campaignCoalition to Regulate Marijuana Like Alcohol

Ohio's 2023 legalization measure was funded by the Marijuana Policy Project ($2.7 million) and existing medical marijuana licensees including Cresco ($295,000) and Curaleaf ($220,000). Supporters outspent opponents more than 7 to 1.

The 2018 Farm Bill loophole created a gas-station THC market that industry-funded estimates size at $7 billion to $28 billion or more. When Congress closed the loophole in November 2025, hemp groups became the biggest marijuana-category lobbying clients of 2026 (Hemp Industry & Farmers of America $345,000, Coalition for Adult Beverage Alternatives $160,000, Team Hemp $150,000 in one quarter) and won a delay. Circle K, the largest U.S. tobacco retail chain, began selling hemp THC drinks in October 2025.

Scotts Miracle-GroHawthorne Gardening

The lawn-care giant built the largest marijuana-cultivation supply business in the country, invested $150 million in marijuana investment firm RIV Capital, and joined the Coalition for Cannabis Scheduling Reform to lobby for rescheduling.

Chicago Atlantic has closed $3.2 billion in loans to marijuana operators since inception, the debt capital that keeps multistate operators running while banks stay out. Its public REIT alone has $411 million outstanding to 26 borrowers.

The Nasdaq-listed Canadian marijuana-and-liquor company used its cash to become a major creditor of U.S. operators through its SunStream vehicle, foreclosing on Florida's Parallel and Michigan's Skymint.

Privateer HoldingsBacked by Peter Thiel's Founders Fund

The private-equity firm that incubated Tilray, backed by Thiel's Founders Fund, held at least 76% of Tilray when it briefly reached a $20 billion valuation in the 2018 marijuana stock bubble.

Became the dominant creditor of operators iAnthus and MedMen through high-yield secured notes, starting with $50 million into iAnthus at 13% interest, then converted debt into control.

John BoehnerFormer Speaker of the House (R-OH)

Joined the board of multistate operator Acreage Holdings in April 2018 and became honorary co-chair of the industry lobby National Cannabis Roundtable in 2019. The New York Times reported his 625,000 Acreage shares carried "the prospect of a payday as high as $20 million" if a Canopy Growth deal closed on legalization.

Matt GaetzFormer U.S. Representative (R-FL)

A Trulieve "counsel agreement" photographed on Gaetz's laptop by a fellow airline passenger showed a $250,000 success fee "if the MATTER resolves" plus a partially visible "Super Success Fee" beginning "2,00," for "administration-related guidance" during the rescheduling push.

Kathleen SebeliusFormer HHS Secretary, former Kansas Governor (D)

Became honorary co-chair of the National Cannabis Roundtable alongside John Boehner.

Tom DaschleFormer Senate Majority Leader (D-SD)

Joined the advisory board of marijuana investment firm Northern Swan Holdings, parent of Colombian producer Clever Leaves. Later also advised psychedelics company Field Trip.

Joe CrowleyFormer House Democratic Caucus Chair (D-NY)

Joined Northern Swan Holdings' advisory board with Daschle, weeks after joining lobbying firm Squire Patton Boggs.

Carlos CurbeloFormer U.S. Representative (R-FL)

Became a senior adviser to the Cannabis Trade Federation, an industry lobby, weeks after leaving Congress.

Dana RohrabacherFormer U.S. Representative (R-CA)

Became a shareholder and advisory board member of marijuana ad platform BudTrader, and a special adviser to Canadian marijuana-oil company PharmaCielo.

Bill WeldFormer Massachusetts Governor (R)

Joined Acreage Holdings' board with Boehner and held 625,000 shares, per the company's 2018 filing.

Cory GardnerFormer U.S. Senator (R-CO)

Joined the National Cannabis Roundtable's advisory board nine months after leaving the Senate.

James ColeFormer Deputy Attorney General, author of the "Cole Memo"

The Obama official whose 2013 memo told federal prosecutors to stand down on state-legal marijuana became an adviser to the industry's National Cannabis Roundtable.

Ed PerlmutterFormer U.S. Representative (D-CO), SAFE Banking author

A year after leaving Congress, the author of the marijuana banking bill registered to lobby for the National Cannabis Roundtable on that same bill as a partner at Holland & Knight.

Rahul GuptaBiden's drug czar (ONDCP Director, 2021 to 2025)

Before his nomination, consulted for multistate operator Holistic Industries on West Virginia medical marijuana compliance, the program he had helped set up as the state's health commissioner. A Holistic affiliate later won West Virginia permits.

Susie Wiles (family)White House Chief of Staff

The New York Times reported that the White House push to delay the federal hemp THC ban was "led in part" by Wiles's son-in-law Bret Worley, CEO of companies selling intoxicating hemp gummies and vapes. Separately, her daughter Caroline Wiles is in leadership at Rubin Turnbull, a lobbying firm hired by Trulieve and Weedmaps in 2025.

After overseeing Illinois's legalization rollout for Gov. Pritzker, became president and CEO of the Marijuana Policy Project, the legalization lobby. Now co-chairs the Coalition for Cannabis Scheduling Reform.

Colorado's first marijuana coordinator left to co-found a marijuana consulting firm, then became executive director of CPEAR, the Altria, Molson Coors and Constellation-backed legalization coalition.

Resigned after less than a year and joined a marijuana consulting firm as partner, along with her division's compliance manager. A state senator called it a violation of "the spirit of our ethics laws."

Hired by marijuana producer Glass House Brands to advise on Schedule III compliance and potential exports.