Prosecutors in Virginia are currently investigating whether Meta’s social media platforms Facebook and Instagram are playing a role in facilitating and profiting from the illegal sale of drugs. According to a recent report by the Wall Street Journal, Assistant U.S. Attorney Randy Ramseyer is leading the investigation to determine if Meta, the parent company of Facebook and Instagram, has failed to adequately remove drug-related content from its platforms.
The investigation, which began with subpoenas sent in 2023, is part of a criminal grand jury probe to uncover any potential wrongdoing by Meta. Ramseyer, who previously investigated Purdue Pharma’s marketing of OxyContin, has requested the subpoenas and is leading the charge in this investigation. The Food and Drug Administration (FDA) is also assisting in the probe.
Meta has maintained that it has policies against drug sales and actively works to remove such content from its platforms. The company claims to collaborate with law enforcement and organizations dedicated to combating online drug sales. A spokesperson for Meta stated, “The sale of illicit drugs is against our policies and we work to find and remove this content from our services.”
In response to the investigation, Meta’s president of global affairs, Nick Clegg, announced that the company has joined forces with the US Department of State, the United Nations Office on Drugs and Crime, and Snapchat to disrupt the sale of synthetic drugs online and educate users about the risks. Clegg emphasized the importance of addressing the opioid epidemic as a major public health issue that requires action from all parts of US society.
In a related development, NY Gov. Kathy Hochul and licensed dispensary owners accused major social media companies like Meta and Alphabet Inc (GOOG) of allegedly promoting unlicensed cannabis businesses. The issue of telehealth companies aggressively marketing prescription drugs on social media has also raised concerns about the misuse of controlled substances.
To stay informed about these complex issues and other cannabis news, including companies’ valuations, earnings, and investment opportunities, individuals can attend the upcoming Benzinga Cannabis Capital Conference in Florida on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will provide a platform for entrepreneurs to network, learn, and grow in the cannabis industry.
In conclusion, the investigation into Meta’s potential role in facilitating illegal drug sales on its platforms highlights the need for increased oversight and regulation of social media companies. As the cannabis industry continues to evolve, it is crucial for all stakeholders to work together to address these challenges and ensure a safe and responsible marketplace for all users.
