Florida Billionaire Donates $20M to Candidates that Oppose Cannabis Legalization Effort (2025)

Florida Billionaire Donates $20M to Candidates that Oppose Cannabis Legalization Effort (1)

Mon / Aug 5th

by TG Branfalt

Florida billionaire Ken Griffin announced he donated $20 million to support candidates who oppose the state’s proposed adult-use cannabis constitutional amendment.

Full story after the jump.

In an August 2 op-ed, Ken Griffin, the billionaire investor and CEO of Florida-based Citadel Hedge Fund, announced he donated $20 million in support of candidates that oppose the proposed adult-use cannabis constitutional amendment.

In the op-ed, published by the Miami Herald, Griffin called the proposal “a terrible plan to create the nation’s most expansive and destructive marijuana laws.”

“Passage of Amendment 3 would create a monopoly for large marijuana dispensaries and permit pot use in public and private areas throughout Florida. That will help no one other than special interests – and it will hurt us all, especially through more dangerous roads, a higher risk of addiction among our youth, and an increase in crime.” — Griffin, ‘Amendment 3, other misguided policies will harm FL’s comeback. Here’s how I’m fighting it,’ 8/2/24

Further, Griffin writes that “No one wants the effects of widespread legalization of marijuana – skyrocketing crime, suffering among children, a decline in the quality of life in Florida’s vibrant neighborhoods – but Amendment 3 would make it inevitable.”

Griffin does not name the candidates he plans to support with the donation; however, Smart & Safe Florida, the campaign seeking to enact the reforms, had raised $66.475 million in cash and $129,000 in in-kind contributions as of July 19, according to state Division of Elections Data, and spent $53.963 million so far on the campaign.

The reforms are opposed by Republican Gov. Ron DeSantis who in June launched the Florida Freedom Fund to combat both the adult-use cannabis campaign and the ballot initiative on abortion access.In the fund’s first five weeks,it raised just $10,000; however, earlier this month a cohort of hemp businesses in the statedonated $5 millionto the Republican Party of Florida after the governor vetoed a bill to regulate hemp-derived intoxicating cannabinoids.

According to aMarijuana Momentreport, as of July 15, the Florida Freedom Fund had about $121,000 on hand, the majority of which came from POB Ventures, which has links to a medical cannabis worker training organization and a cadre ofhempbusinesses.

A University of North Florida Public Opinion Research Lab (PORL)pollreleased last month found 64% of likely voters planned to vote in favor of the proposal. A pollpublished earlier in Julyfound the same level of support.In Florida, constitutional amendments require 60% support to pass.

Get daily cannabis business news updates. Subscribe

Have an additional perspective to share? Send us a message to let us know, and if your comment is chosen by our editors it could be featured here.

Perspective to add? Suggest a revision or submit commentary for review using the form below.

Note: our editors approve comments that provide new and succinct insight to our audience. If your comment is chosen for publishing, it will appear at the end of the article along with your name, job title, and organization. If you have a profile in the Ganjapreneur Business Index, your comment will also include a backlink for reference. If you are suggesting a correction, we will look into the issue further.

End

Ganjapreneur is made possible by our partners:

Get daily updates

Latest Cannabis News

Vice Presidential Nominee Tim Walz Has A Rating from NORML for Cannabis Policy

Wed / Aug 7th

New Hampshire Gov. Signs Bills Expanding Medical Cannabis Access

Wed / Aug 7th

Lockhart, Texas Voters to Consider Cannabis Decriminalization Proposal in November

Wed / Aug 7th

Animal Feed Officials Are Considering Hemp Seed for Chicken Feed

Wed / Aug 7th

Oregon Voters to Consider Ballot Proposal Allowing Cannabis Industry Workers to Unionize

Wed / Aug 7th

Arkansas Campaign Seeking to Expand Medical Cannabis Gets More Time to Collect Signatures

Mon / Aug 5th

News by Market:

  • Canada
  • CA
  • CO
  • WA
  • OR
  • NV
  • DC
  • IL
  • MI
  • MA
  • ME
  • AK
  • VT
  • AZ
  • VA
  • MO
  • NM
  • NY
  • NJ
  • CT
  • Mexico
  • FL
  • RI
  • AR
  • AL
  • MD
  • NH
  • DE
  • SD
  • ND
  • OH
  • OK
  • PA
  • LA
  • IN
  • TX
  • UT
  • IA
  • WI
  • GA
  • KY
  • ID
  • WY
  • KS
  • TN
  • SC
  • Los Angeles
  • San Francisco
  • Seattle
  • Denver
  • Las Vegas
  • Chicago

News by Topic:

  • Stocks
  • CBD
  • Legalization
  • Decriminalization
  • Business
  • Regulations
  • Adult Use
  • Medical Cannabis
  • Social Equity
  • Expungement
  • Veterans
  • Hemp Industry
  • Events
  • Politics
  • Federal Policy
  • Law Enforcement
  • International
  • Entrepreneurs
  • Investing
  • Licensing
  • Banking
  • Marketing
  • Technology
  • Celebrities
  • Sports
  • Popular Culture
  • Normalization
  • Extracts
  • Edibles
  • Lawsuits

View all news Get email updates

Featured Business Profiles

Create a profile View all categories

From Our Partners

Get Paid to Smoke Joints: Pioneering Cannabis Study Seeks Participants to Advance Smoking Standards

Harrison Bard

Schedule III Will Bring New Opportunities to the Pre-Roll Industry

Angela Schweers

If It Isn’t Rolled, Is It Even a Pre-Roll?

Angela Schweers

Florida Billionaire Donates $20M to Candidates that Oppose Cannabis Legalization Effort (2025)

References

Top Articles
Latest Posts
Recommended Articles
Article information

Author: Nathanael Baumbach

Last Updated:

Views: 5494

Rating: 4.4 / 5 (55 voted)

Reviews: 94% of readers found this page helpful

Author information

Name: Nathanael Baumbach

Birthday: 1998-12-02

Address: Apt. 829 751 Glover View, West Orlando, IN 22436

Phone: +901025288581

Job: Internal IT Coordinator

Hobby: Gunsmithing, Motor sports, Flying, Skiing, Hooping, Lego building, Ice skating

Introduction: My name is Nathanael Baumbach, I am a fantastic, nice, victorious, brave, healthy, cute, glorious person who loves writing and wants to share my knowledge and understanding with you.