Who Has More Money: Florida’s Pro- or Anti-Cannabis Legalization Campaigns?

If money talks, then Florida’s adult-use cannabis legalization campaign is well on its way to finding a 60% supermajority for passage of a constitutional amendment in the November 2024 election.

That’s because Smart and Safe Florida, the political action committee behind the Yes on 3 (Amendment 3) campaign, is outraising its main two opposition campaigns, $71.8 million to $14.5 million, as of mid-August, according to the Florida Division of Elections’ campaign finance database.

The two opposition campaigns—Keep Florida Clean Inc. and the Florida Freedom Fund—are registered PACs chaired by Florida Gov. Ron DeSantis’ chief of staff, James Uthmeier. The Florida Freedom Fund is also raising money to defeat Amendment 4, a constitutional measure to “limit government interference with abortion.”

RELATED: Florida’s Battle to Legalize Cannabis Heats Up Ahead of Amendment 3 Ballot Measure

Here’s a breakdown of the Yes on 3 pro-legalization campaign’s finance activity and of the two opposition campaigns’ finance activity:

Smart and Safe Florida (Yes on 3):

• Registered PAC: August 2022
• Position: Supports adult-use cannabis legalization in Florida
• Chairperson: David Bellamy (of The Bellamy Brothers)
• Number of Contributions: 402 (as of Aug. 15)
• Total Money Contributed: $71,756,789.31
• Main Contributor(s): Trulieve ($65,391,800); Verano ($2,509,470); Curaleaf ($2,000,000); Green Thumb Industries ($500,000); AYR Wellness ($500,000); Cresco Labs ($400,000); INSA ($244,000)—all are medical cannabis companies in Florida.
  

Keep Florida Clean Inc. (Vote No on 3):

• Registered PAC: July 2024
• Position: Opposes adult-use cannabis legalization in Florida
• Chairperson: James Uthmeier (Gov. Ron DeSantis’ chief of staff)
• Number of Contributions: 15
• Total Money Contributed: $12,001,675.10
• Main Contributor(s): Citadel hedge fund CEO Ken Griffin ($12,000,000)
  

 Florida Freedom Fund:

• Registered PAC: May 2024
• Position: Opposes adult-use cannabis legalization and abortion rights in Florida
• Chairperson: James Uthmeier (Gov. Ron DeSantis’ chief of staff)
• Number of Contributions: 67
• Total Money Contributed: $2,519,479.00
• Main Contributor(s): Floridians for Economic Leadership, PAC chaired by Cornerstone Solutions President Rick Asani ($1,000,000); Michael Charles Dearing, a venture capitalist from Wyoming ($500,000); Aubrey Edge, president and CEO of Florida-based petroleum distributor First Coast Energy LLP ($250,000)
  

Editor’s note: The information provided above is through Aug. 15, 2024. Cannabis Business Timeswill continue to update campaign contributions in the months leading up to the November election.