Smart & Safe Florida brings in new donors, raises $15M

by | Apr 3, 2024

Smart & Safe Florida, the group behind the push for legalized recreation adult-use cannabis, announced that it has raised $15 million in donations from an array of industry donors after the Florida Supreme Court’s approval for Amendment 3 to be on the November ballot.

Smart & Safe Florida, the group championing adult-use cannabis legalization, announced Wednesday it has garnered $15 million in donations following the Florida Supreme Court’s green light for Amendment 3 to appear on the November ballot.

Predominantly backed by Trulieve prior to the Court’s ruling, the campaign now boasts contributions from additional major donors within the marijuana industry. New donors include Verano Holdings Corp., Curaleaf Holdings, Inc., AYR Wellness, Inc., Cresco Labs, Inc., Green Thumb Industries, Inc., and INSA, Inc.

Verano Holdings Corp. operates across multiple states, focusing on the cultivation and sale of cannabis products. Curaleaf Holdings, Inc. is one of the largest cannabis companies worldwide, AYR Wellness, Inc. is a cannabis cultivator. Cresco Labs, Inc. serves the cannabis industry as a consumer-packaged goods company, Green Thumb Industries, Inc. engages in the cultivation, processing, and retailing of cannabis, and INSA, Inc. sells cannabis products, including flower, concentrates, and edibles.

“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.

The Florida Supreme Court on Monday approved the drafted ballot language for a proposed constitutional amendment, backed by Smart & Safe Florida and heavily funded by cannabis retailer Trulieve. If ratified by Florida voters in November, it would permit adults aged 21 and older to possess, purchase, or use marijuana products for non-medical use.

If approved, state economists estimate the initiative could generate between $195.6 million and $431.3 million in annual sales tax revenue. When revenue associated with new tourists drawn to the state by legalized marijuana is taken into account, state economists forecast an additional $43.6 million per year.

A University of North Florida Public Opinion Research Lab poll published in November suggests strong support for the amendment’s approval, with sixty-seven percent of respondents in favor the purchase and possession of small amounts.

Now on ballots, the amendment will require 60 percent of the vote in order to pass.


%d bloggers like this: