A high profit industry
Although this is his first official line of cannabis with Caliva, Jay-Z joined the company in 2019 as its chief brand strategist.
"We think this is a sea (of) change in terms of the visibility to the industry," Dennis O'Malley, chief executive officer of Caliva, told CNN Business.
"We take this partnership with a lot of responsibility, a lot of humility, a lot of accountability moving forward."
While it remains federally illegal, more than half of US states have legalized medical marijuana, with some of those allowing recreational use.