Will Uber deliver cannabis? Yes when federal regulations allow

 

On Monday, Dara Khosrowshahi, CEO of Uber told CNBC that Uber could begin delivering cannabis after federal regulation allows it to do so. Speaking at an interview with “Tech Check” the chief executive said that when the road was clear and when federal authorities passed laws enabling its delivery, the company would definitely look into the matter.

 

Uber currently delivers food and alcohol. It would look at ramping up its operations with the delivery of cannabis, when it is legally possible to do so. Khosrowshahi said that they were going to focus at the opportunity at hand (food and alcohol delivery) and that there was a lot of opportunity out there in the two key categories.

 

On Monday, Uber stock rose by 2 percent. The ride-hailing app had posted record gross bookings for March. The chief executive described it as “the best month ever.” He also said that Uber was on the path of profitability.

 

As more and more Americans are getting vaccinated and businesses are partly opening, demands for rides have gone up. Recently Uber and its rival Lyft have seen the demand increase while the supply was low as many drivers quit during the pandemic for various reasons. Both the ride-hailing businesses have offered drivers incentives and bonuses to join or rejoin their platforms.

 

Although there is no indication when cannabis will become a commodity that can be delivered, laws are slowly changing. States have been allowed to legalize the use of cannabis for both medical and recreational purposes.

 

Sixteen states in the nation have already passed cannabis laws, though their implementation may take time. New York’s Governor Andrew Cuomo and his lawmakers signed legislation on March 31 which will allow marijuana products to be delivered.

 

California, Nevada and Oregon allow the delivery of cannabis, with no restrictions, for people who are 21 years old or more.

 


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