Amendment 3, the Florida cannabis legalization initiative, has appeared to fail. FundCanna poll tracker data called the race, with roughly 95 percent of precincts reporting. Amendment 3 saw 57 percent of Floridians voting “yes” and 43 percent voting “no.” The measure needed at least 60 percent approval to pass.
RELATED: Trump and Harris appear to agree – at least on one thing
The law would have permitted adults over 21 to possess up to three ounces of marijuana and five grams of concentrates. Existing medical marijuana operators would have been allowed to transition to adult-use retail.
The adult-use legalization campaign was among the most closely watched races in the cannabis industry. Florida is the biggest medical marijuana market in the country, and recreational sales could bring in billions of dollars in revenue. Trulieve, a main supplier of medical marijuana in Florida, contributed over $140 million to the initiative’s sponsors.
“While it’s disappointing to see Florida’s Amendment 3 fall short of the 60 percent threshold necessary, it’s important to recognize the bipartisan voter support that the measure received,” Anthony Coniglio, CEO of cannabis investment firm NewLake Capital Partners, said in a statement sent to GreenState. “These results don’t erase the progress the sector has made or the growing public support for cannabis nationwide. What this outcome highlights is the need for continued education, advocacy, and long-term strategy to break through resistance in key markets.”
RELATED: Florida cannabis job training free for some students
Florida Governor Ron DeSantis campaigned against the measure, finding himself opposed to former President Donald Trump, who promised to vote in favor of Amendment 3. DeSantis landed in hot water after allegedly using taxpayer money and funds from federal opioid settlements to fund public service announcements thought to be anti-Amendment 3.
With so much money flowing into this campaign, it’s unclear if budgets will be restored for the next election cycle. Governor DeSantis previously vetoed a bill to regulate the hemp-based market in Florida, meaning local residents will likely need to stick to delta-8 for the foreseeable future.
