The Florida Division of Elections now lists more signatures than needed to place an adult-use cannabis referendum on the state’s 2024 ballot, according to the state’s website. However, several legal hurdles remain before the question formally goes before voters. As of Thursday, the Florida Division of Elections website listed 967,528 statewide signatures currently valid, more than the 891,523 needed to place it on the ballot. Statewide and congressional district signature totals are not official until the Florida Secretary of State issues a certificate of ballot position. To complicate matters, Florida Attorney General Ashely Moody on May 15 told the Florida Supreme Court that the proposed ballot “fails to meet the requirements” of the law and that she will present additional arguments in the future. The signature campaign has been led by Smart & Safe Florida, a group that has received financial support from Trulieve Cannabis Corp. TCNNF , one of the largest medical cannabis companies in the Sunshine State. Other cannabis companies with a presence in the state include Verano Holdings Corp. VRNOF, Curaleaf Holdings Inc. CURLF, Ayr Wellness Inc. AYRWF and Green Thumb Industries Inc. GTBIF, and Cresco Labs CRLBF.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.