With less than a week until Florida’s November 5 election, Trulieve (CNSX: TRUL) is going all in for Amendment 3, a ballot measure that would legalize recreational marijuana use in the state. The company recently contributed an additional $28 million to the campaign, bringing its total support to $141 million in cash and in-kind contributions.
The amendment, which requires 60% voter approval to pass, would allow adults aged 21 and older to possess, purchase, and use marijuana products for personal consumption. If passed, the “Adult Personal Use of Marijuana” amendment would expand current state cannabis laws to include recreational use through various consumption methods, including smoking and ingestion.
The measure has been spearheaded by the Smart & Safe Florida political action committee (PAC), which has raised nearly $150 million—mostly from Trulieve—since its formation in 2022.
Sponsored · First Phosphate Corp.
Related: Trulieve Drops Over $70 Million Supporting Smart & Safe Florida In Push for Amendment 3
The Smart & Safe Florida PAC maintains approximately $7.48 million in cash reserves as it enters the final stretch of what has become an intense political battle. This push for recreational marijuana follows Florida’s 2016 decision to legalize medical marijuana through a constitutional amendment.
Opposition to the amendment has emerged from several high-profile state leaders. Governor Ron DeSantis is leading efforts to defeat the proposal, joined by First Lady Casey DeSantis, Surgeon General Dr. Joseph Ladapo, and various law enforcement officials.
State agencies have launched television advertising campaigns aimed at discouraging voter support, with opponents expressing concerns about youth marijuana use and the cannabis industry’s financial influence on the initiative.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
