Diddy's failed cannabis investment saves the industry from scandal

It's a stunning scandal flooding the news… but the cannabis industry is avoiding it because the big investment deal fell through.

The entertainment industry and the general public were shocked by the Diddy (formerly Puff Daddy, Sean Combs, etc.) scandal. The tentacles of his federal indictment are causing X in the music, entertainment, fashion, alcohol and money worlds… but one industry is breathing a sigh of relief. There's a flood of celebrities fearing they'll be torn down, including actor and Silicon Valley investor Ashton Kutcher, Kevin Hart, Usher, Jay-Z and more. But Diddy's failed cannabis investment spares the industry from scandal, even as it appears to be waiting for good news.

RELATED: Most Popular Marijuana Flavors

Combs was arrested Sept. 16 and charged with sex trafficking, extortion and transportation for the purpose of prostitution. According to federal prosecutors, he is portrayed as the leader of an alleged criminal enterprise that subjects women and men to a range of physical and sexual abuse.

Investigators allege that over a period of years, Combs plied victims with narcotics and even resorted to violence and intimidation during day-long sex sessions in so-called “freak-offs.” There were big names at these events and people are afraid of them.

Diddy was deeply committed to being part of the merger of cannabis companies Cresco Labs Inc. and Columbia Care Inc. They are currently two of the largest cannabis companies and are exploring doing business together while attracting additional investors. Diddy's $155 million share would have given him a huge entry into the growing market. His reach, wealth and connections could have helped the industry. Luckily, the $merger ended in August 2023, rendering his contract with them null and void.

RELATED: This Natural Cannabinoid Makes You Happy

But what happens next? Other people around him play a role in the industry, including Jay-Z. He Jay-Z launched a $10 million investment in minority-owned cannabis startups. He is the Chief Visionary Officer of TPCO Holding.

Wiz Khalifa, Method Man and Snoop Dog all have their hands in marijuana. Time will tell how the charges against Diddy will affect all players.