Nov 5, 2024 - Election
Florida voters reject recreational marijuana
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Florida's Amendment 3, which would have legalized recreational marijuana, failed to pass Tuesday night, according to the Associated Press.
Why it matters: The constitutional amendment, which needed 60% approval to pass, would have made Florida the first state in the Deep South to legalize weed for personal use.
- Gov. Ron DeSantis and his allies, including Miami billionaire Ken Griffin, opposed the amendment, saying it would endanger young people and make Florida's streets smell like pot.
- Former President Trump, however, said he supported legalization.
Follow the money: Legalizing recreational weed would have been profitable for growers and the state.
- Florida economists estimated that the recreational market had the potential to bring in at least $196 million in sales tax revenue, per the Tallahassee Democrat.
- Licensed medical marijuana dispensaries would have stood to make a lot of green, too. The campaign to pass Amendment 3 received around $150 million in funding, mostly from marijuana giant Trulieve.
- Griffin, for his part, donated $12 million to the campaign opposing Amendment 3.
What's next: Medical marijuana is still legal in Florida, and there are more than 880,000 Floridians who can already buy it, per the Democrat.
- Hemp-based products, which provide a similar buzz, are legal in Florida.