Your Cousins In Florida Like Their Weed: Why Hispanic Voters Could Tip The Scale For Cannabis,Will It Be Enough?

Hispanics, who account for 22% of Florida's electorate with 2.75 million voters, are showing increasing support for cannabis legalization. In a recent poll conducted by TelevisaUnivision and Media Predict, 60% of Hispanic voters in the state expressed either a definite or probable “yes” on Amendment 3, which seeks to legalize recreational cannabis for adults aged 21 and older. 

This is a 2% rise from last month's numbers, highlighting growing acceptance within this key demographic. For cannabis investors, this trend signals potential market expansion in Florida, making the Hispanic electorate an essential group to watch as it could shape the future of the state's cannabis industry.

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High Support Among Non-Hispanic Voters

Among non-Hispanic voters, 63% showed similar enthusiasm for cannabis legalization. The poll, conducted online from September 12-16 with 1,155 likely voters, highlights the growing acceptance of recreational cannabis across diverse voter groups. Investors should take note: if approved in the November election, Florida’s cannabis market could undergo a 400% growth, providing new opportunities for business development.

Economic Concerns Remain Paramount

In addition to cannabis, Florida Politics reported that abortion rights have also captured the attention of Hispanic voters. Amendment 4, which seeks to protect abortion access until fetal viability (around 24 weeks), had consistent support from 63% of Hispanic voters. The intensity of this support grew, with 41% now expressing certainty in their vote, up from 39% last month.

While cannabis and abortion are hot topics, economic issues remain at the top of the list for Hispanic voters. A staggering 80% of respondents identified the rising cost of living as the most pressing issue, followed by inflation at 79%.

Read Also: Young Republicans Break Ranks To Back Cannabis Legalization—Is The GOP Ready For A Shift In The Status Quo?

Will It Be Enough?

As Florida and the natioin approach the upcoming November 2024 elections, the outcome remains uncertain. National dynamics, such as concerns over the economy and immigration, may overshadow cannabis reform as a top priority for voters. 

While V.P. Kamala Harris and her running mate Tim Walz support federal cannabis reform, Donald Trump‘s recent backing for legalization in Florida presents a different challenge. His stance is more of a concept rather than a detailed policy.

Trump's endorsement could energize conservative voters who may previously have been ambivalent on the issue, potentially undercutting Harris's advantage in traditionally progressive areas. 

Despite strong support for Amendment 3 among Hispanic voters, the broader electorate's focus on economic and social issues in such a divided political landscape may limit its impact on swaying the cannabis legalization effort.

Trulieve Cannabis Corp. TCNNF, Curaleaf Holdings, Inc. CURLF, and Ayr Wellness Inc. AYRWF are some of the key players in Florida's medical cannabis market. Trulieve, in particular, dominates the Florida market with a large number of dispensaries. If Amendment 3 passes, these companies could see significant stock movement as they transition to serving a broader, recreational consumer base.

Read Next: DeSantis Targets ‘One Big Weed Company’ Funding Florida’s Legalization Campaign, Citing ‘Corporate Interests’