New Data Shows How Much 6 Florida MSOs Contributed to Cannabis Legalization Campaign

As Florida’s adult-use cannabis legalization campaign turns to securing a 60% supermajority vote in November, more cash from the state’s medical marijuana treatment centers (MMTCs) has flowed in.

Leading up to the Florida Supreme Court’s April 1 ruling to approve the ballot language for the constitutional amendment, Tallahassee-based Trulieve was the primary financial supporter of initiative sponsor Smart & Safe Florida. Specifically, Trulieve contributed more than $40 million to the campaign between August 2022 and October 2023 as the lone MMTC to donate during that period, according to the Florida Division of Elections.

But in the first quarter of 2024, five other MMTCs joined the fight with nearly $5.7 million in contributions, including Verano, Curaleaf, Green Thumb Industries, AYR Wellness and Cresco Labs, according to campaign finance data recently released by the Division of Elections.

These five companies made their contributions within 10 days of the Supreme Court ruling in favor of the ballot language. Had the Supreme Court shot down the initiative, as it did with two previous attempts in 2021, it’s likely these companies would have been reimbursed without the ongoing need to fund Smart & Safe Florida’s initiative.

"AYR will continue to work alongside advocates and our industry partners via the Smart & Safe Florida campaign to ensure support for the ballot initiative," AYR President and CEO David Goubert said in a statement provided to Cannabis Business Times. "We are confident that Florida voters will come out in support of adult-use cannabis, clearing the 60% vote threshold this November."

Trulieve also contributed an additional $9.2 million during the first three months of 2024, according to the Division of Elections.

Through March 31, here’s how much each of the six operators have contributed:

These are six of the larger medical cannabis companies in Florida, with Trulieve operating 134 dispensaries in the state, while Verano has 74 MÜV stores, AYR Wellness operates 63 dispensaries, Curaleaf has 61 retail facilities, Cresco Labs operates 33 Sunnyside stores, and Green Thumb has 15 RISE dispensaries, according to the Florida Office of Medical Marijuana Use. Combined, these six companies represent 61% of the retail facilities in the state.

A spokesperson for Smart & Safe Florida declined to comment on whether the April 1 ruling drew in additional donors to the campaign following the Q1 2024 filing deadline.

However, a spokesperson for Insa Cannabis, which has 10 medical dispensaries in Florida, told CBT that the company made a $144,000 contribution in early April, pushing the 2024 total over the $15-million mark.

In addition to the MMTCs mentioned above, these licensees also have operational medical dispensaries in Florida: Surterra Wellnesses (45), Green Dragon (37), Fluent (35), VidaCann (26), Sanctuary Cannabis (23), GrowHealthy (18), The Cannabist Co. (14), Sunburn Cannabis (11), Jungle Boys (8), The Flowery (7), Cookies Florida (7), House of Platinum Cannabis (4), and Goldflower Cannabis (3). Las Vegas-based Planet 13 Holdings Inc. has a $49-million agreement to acquire VidaCann.

These MMTCs stand the opportunity to benefit from adult-use legalization: The ballot measure specifically states that existing medical operators would be able to remain vertically integrated while expanding to a forthcoming adult-use market, while the Florida Legislature would hold the authority to determine a process for licensing additional market entrants.

Following the Supreme Court’s determination that the ballot language met the state’s standards as clear and unambiguous in a manner that does not mislead voters as well as embracing no more than one subject matter, Trulieve CEO Kim Rivers said her company looked forward to continuing its support of the campaign as it heads to the ballot this fall.

“Trulieve was the primary financial supporter of the initiative during the signature gathering effort and subsequent court challenge and is a proud supporter, alongside a strong coalition of other companies, of the next important phase to educate Floridians on the amendment and secure a yes vote on Amendment 3 this November,” River said in a press release.

The financial support behind the Smart & Safe Florida campaign will be key to securing the 60% supermajority vote on Nov. 5, 2024, as opposition campaigns often strive to sway public opinion with media blitzes in the months leading up to elections.

Among 13 states that have legalized adult-use cannabis through citizen-initiated ballot measures, only Arizona, in the 2020 election, has met that 60% threshold. Meanwhile, New Jersey (67.1%) and Maryland (67.2%) voters approved legislative-referred referendums, which simply asked voters whether they supported their state lawmakers writing the rules for legalization.

With Florida’s strict standards for approving ballot language, the Smart & Safe Florida measure does much of the same in that it delegates the specifics—with regard to promulgating rules for regulating and taxing a forthcoming industry—to state lawmakers.

In Florida, 67% of voters said they would support a constitutional amendment allowing adults to purchase and possess personal amounts of cannabis, according to a November 2023 survey conducted by pollsters at the University of North Florida’s Public Opinion Research Lab.