Supreme Court of Florida approves marijuana measure for November ballot

The Supreme Court of Florida approved this afternoon that a measure to legalize adult-use marijuana in the state will be allowed on the November ballot. “A ballot initiative to legalize the recreational use of marijuana under Florida law obtained the required number of signatures to trigger mandatory judicial review of the initiative’s validity. Our role is narrow-we assess only whether the amendment conforms to the constitutionally mandated single-subject requirement, whether the ballot summary meets the statutory standard for clarity, and whether the amendment is facially invalid under the federal constitution. In light of those limited considerations, we approve the proposed amendment for placement on the ballot,” the court said in an opinion. Publicly traded companies in the cannabis space include Aurora Cannabis (ACB), CV Sciences (CVSI), Canopy Growth (CGC), Cronos Group (CRON), Goodness Growth (GDNSF), Green Thumb Industries (GTBIF), IGC Pharma (IGC), Tilray (TLRY), Trees Corporation (CANN) and Trulieve Cannabis (TCNNF).