The basketball legend Magic Johnson has invested in Uncle Bud's Hemp and CBD.
The United States enacted the Farm Bill in 2018 which legalized industrial hemp and CBD throughout the entire country. This movement sparked a rush in business and investment that is similar in magnitude to the California gold rush of 1849.
Since the Farm Bill, celebrities and athletes of all kinds have thrown their hat into the CBD ring. More recently, the former NBA superstar, Magic Johnson, has joined the CBD industry.
Magic Johnson enterprises recently announced that they have partnered with a US-based cannabis business, Uncle Bud's Hemp and CBD. The cannabis firm specializes in CBD products of all varieties which include topicals, oils, and consumables.
Magic Johnson Enterprises is focused on identifying category leaders with quality products that are at an affordable price.Magic Johnson
Uncle Bud's Hemp and CBD has recently started to focus on athletes in particular and that's where Johnson comes in.
The co-founder of the CBD company, Garret Greller, suffers from arthritis and chronic pain and struggled throughout his life to find an adequate solution. CBD gave Greller an effective alternative to traditional medicines and that sparked the idea for the company. Johnson informed Business Insider that Greller's narrative inspired him and intrigued him to invest in the business.
Magic Johnson stated his belief in Greller's company and CBD products. He uses the CBD roll-on product for his sore knees. "I power walk five days a week, so my knees are killing me after I'm done," Johnson said. Johnson expressed that he uses CBD as a safe and natural alternative for pain relief.
The market for athlete-focused CBD and cannabis is booming.
Athletes and celebrities alike have started investing in CBD and cannabis brands in recent years. Athletes are using CBD as pain relief, and many celebs are using it for wellness.
Professional skateboarder, Matt Miller, started his own CBD company called Miller Healer. Skateboarding is a dangerous sport that inevitably comes with many injuries and a great deal of pain, and CBD is an excellent alternative to pain relief. Miller's company focuses on CBD products that are engineered to treat pain and inflammation that stems from high impact sports.
Moreover, the growing presence of professional athletes spans into not only CBD but cannabis as well. For instance, the former boxing heavyweight champion, Mike Tyson, founded a cannabis company called Tyson Ranch. Tyson Ranch specializes in cultivating premium cannabis strains and focuses on licensing and branding other cannabis products.
Magic Johnson isn't the only NBA personality that has joined the cannabis and CBD Rush. Additionally, former NBA all-star, Al Harrington hails two brands known as Viola Extracts and Harrington Wellness. Viola specializes in concentrated cannabis and Harrington Wellness focuses on CBD-based products.
The recent moves in the CBD and cannabis industry don't just include athletes. Musicians and actors have also ventured into the business. This includes the likes of Kristen Bell, Xzibit, and of course Snoop Dogg.
The cannabis and CBD goldrush have only just begun. It seems like the industry has been completely saturated with celebrities, however, there's plenty of room for more. According to a recent analysis by Grand View Research, the market is expected to be worth $73.6 billion by 2027.
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