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Ken Griffin’s $20 Million Campaign Against Recreational Marijuana Legalization in Florida
Billionaire investor Ken Griffin is making a significant financial commitment to oppose the legalization of recreational marijuana in Florida, pledging millions to influence political outcomes surrounding the issue.
In a recent op-ed published in the Miami Herald, Griffin, the founder of Citadel hedge fund, disclosed his intention to allocate $20 million towards supporting Florida politicians and efforts aimed at defeating Amendment 3, which seeks to legalize recreational cannabis. Following this, the Herald specified that $12 million of this amount is designated explicitly for opposing the amendment, while the remaining funds will be directed towards supporting local political candidates.
Griffin expressed his views, stating, “The passage of Amendment 3 would create a monopoly for large marijuana dispensaries and allow cannabis use in public and private places across Florida.” He argues that this legislation serves only the interests of a few and could lead to negative societal consequences, including increased traffic dangers, a heightened risk of youth addiction, and potential crime surges.
He has warned about the anticipated repercussions of legalizing recreational marijuana, drawing parallels with states such as California, Colorado, and New York, which he labeled as having made critical errors in this regard. Griffin highlighted concerns about rising crime rates and a decline in the quality of life in neighborhoods if Florida were to follow a similar path.
Supporting his position, a 2022 study featured in the Journal of Studies on Alcohol and Drugs indicated that there is a correlation between marijuana legalization and an uptick in traffic accidents and fatalities. Contrastingly, a study from Colorado University Boulder found no significant link between legalized recreational cannabis and increased rates of substance use disorders or other drug use among adults, also asserting that it did not correlate with greater cognitive or social issues. Overall, analyses on the impact of marijuana legalization on crime rates remain largely inconclusive.
In a statement to Business Insider, Griffin emphasized the success of Florida’s governance, attributing the state’s prosperity to good policies. He remarked on his experiences in other states affected by poor political decisions, stating, “My dream is for all Floridians to continue to have even more opportunities… I am committed to supporting policies that will further elevate Florida as the greatest place to live, work, and raise a family in America.”
Since relocating Citadel from Chicago to Miami in 2022, Griffin has increasingly engaged in Florida-centric political causes. This summer, he unveiled plans to expand the Citadel office, which includes two additional floors in a new 55-story tower in Miami.
Despite his longstanding history as a significant political donor—investing substantial sums primarily in support of Republican causes—Griffin’s current efforts against Amendment 3 showcase a focused involvement in state-specific issues as Citadel strengthens its foothold in Florida.
Amendment 3 is backed by the political organization Smart & Safe Florida. While the group was unavailable for immediate comment, they have publicly countered Griffin’s claims on social media. Among their assertions is a statement that legalization yields a decrease in teenage cannabis use, asserting that data from various studies supports the notion that states with regulated legalization experience lower rates of teen usage alongside increased college enrollment.
Recent polling data from The Florida Phoenix indicates considerable public support for Amendment 3, with 64% of voters expressing favor for the measure’s passage.
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