Florida’s path toward adult-use cannabis legalization has become quite the spectacle in recent weeks. With Amendment 3, an adult-use cannabis campaign, officially securing a place on the November ballot after a Florida Supreme Court ruling, it seems as though nearly the entire medical marijuana industry in the state is throwing its weight behind the push for legalization.
Trulieve, Florida’s largest medical marijuana provider, partners with an association of multistate operators (MSOs) to pave the way for the Smart & Safe Florida campaign, aiming to establish a massive adult-use market in Florida.
Smart & Safe Florida Announces New Donors For Adult-Use Cannabis Campaign
Following a decision by the Florida Supreme Court, the push for adult-use cannabis legalization in Florida reached a new level of momentum. The court dismissed a constitutional challenge brought forward by the state Attorney General Ashley Moody.
This challenge had been a significant hurdle, with Moody arguing that the ballot initiative’s language was misleading to voters, that it violated state laws restricting ballot questions to a single issue, and that it presented a monopolistic model in conflict with federal regulations, given that cannabis remains a Schedule I drug under federal law.
Until now, Trulieve had been shouldering the Smart & Safe Florida campaign largely on its own to the tune of over $40 million in donations. However, in a press release by Smart & Safe Florida announced that it has new donors and raised more than $15,000,000 million after the court ruling.
“To date, the campaign has largely been funded by Florida-based Trulieve and with the announcement of these additional donors, new campaign finance reports will soon show a broad group of companies who are joining Trulieve to contribute to this historic effort, including:
· Verano Holdings Corp.
· Curaleaf Holdings, Inc
· AYR Wellness, Inc.
· Cresco Labs. Inc.
· Green Thumb Industries, Inc.
· INSA, Inc.
MSOs Sticking Together
Four out of the six charter members of the freshly formed Florida Medical Marijuana Trade Association (FMMTA) are among the contributors. Formed last month, the FMMTA’s mission is to lobby state officials for regulations that favor the cannabis industry.
“As we move into the next phase of campaigning, we are grateful to have the support of our donors. We have come a long way, but our work has only just begun.” – Smart & Safe Florida.“
“We are not only pleased that the court has agreed to move this initiative forward, but we are also thrilled to announce a strong alliance of committed donors to the effort,” said Smart & Safe Florida chairman David Bellamy via the press release.
Multiple MSOs have boosted the Smart & Safe Florida campaign’s finances, contributing to a recent $15 million increase. The specific donation amounts from each organization are undisclosed. The campaign’s funds now total of $55 million.
The Stakes in Florida’s Cannabis Market
The financial backing for Florida’s Amendment 3 is historic in US cannabis legislation. Donations have hit $55M, far exceeding funding for similar initiatives nationwide.
This financial commitment underscores not just the belief in the initiative’s success but also highlights the potential financial gain large multistate operators (MSOs) stand to gain if the measure passes.
The financial support from these MSOs speak volumes about the perceived profitability of Florida’s emerging adult-use market. Given Florida’s population and the over 120 million tourists it get a year, and a significant portion that constitutes a prime demographic for cannabis consumption, the state represents a lucrative frontier for these MSOs.
Florida could see $4.9 billion to $6.1 billion in sales during the first year of implementation (June 2025 through May 2026). This explosive growth presents a once-in-a-lifetime opportunity for the state’s leading cannabis operators to capitalize on the expanded customer base and skyrocketing demand, according to projections from Headset.
It’s somewhat ironic, yet entirely expected, that other MSOs jumped into the fray with substantial financial contributions right after the Florida Supreme Court ruling. It’s like witnessing a sleeper hit movie where everyone wants a piece of the action post-success. Showcasing the strategic wait-and-see approach typical in high-stakes advocacy.
The recent influx of donations energizes the path to November with active campaigning and compelling messaging.
The stage is set, and it’s up to the people of Florida to cast the deciding votes. Securing the necessary 60% approval for Amendment 3 may appear challenging, but early surveys and small polls suggest it’s a feasible goal, not merely wishful thinking.
The coming months promise a culmination of efforts and resources like never before, leading to what could be a pivotal moment in Florida’s, and indeed America’s, cannabis narrative.
