Florida GOP Representative Throws Wrench Into Proposed Cannabis Legalization Initiative With Bill To Cap THC Levels
Portfolio Pulse from Maureen Meehan
Florida State Rep. Ralph Massullo proposed a bill to cap THC levels in cannabis products, potentially affecting the cannabis legalization initiative funded by Trulieve Cannabis Corp. (TCNNF). The bill limits THC to 10% in smokable products and 60% in other forms, except edibles, which would have a 200mg cap per product and 10mg per serving. The legalization amendment, supported by Smart & Safe Florida and funded by Trulieve, aims to allow non-medical use of marijuana for adults over 21. Attorney General Ashley Moody opposes the initiative, citing its failure to acknowledge federal illegality. The state's highest court will decide by April 1 if the amendment can be voted on, requiring a 60% majority to pass. Over one million Florida voters have signed petitions supporting the amendment.
January 05, 2024 | 9:30 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Trulieve Cannabis Corp., a major supporter of the Florida cannabis legalization initiative, could face challenges if a bill to cap THC levels is passed, potentially limiting the range of products they can offer.
The proposed bill directly targets the potency of cannabis products, which could limit Trulieve's ability to sell higher potency products in Florida. This could negatively impact their sales and product strategy in the short term, especially if the bill gains traction or influences the outcome of the legalization initiative.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80