Ken Griffin is pouring millions of dollars into the effort to keep recreational weed from being legalized in Florida.
In a Friday op-ed for the Miami Herald, the billionaire founder of the Citadel hedge fund wrote that he has pledged $20 million to various Florida politicians and efforts to prevent Amendment 3 from being passed. The Herald noted in a recent article that $12 million will be pledged to defeat Amendment 3, with the rest going to local voters.
“Passage of Amendment 3 will create regulation for large marijuana dispensaries and allow the use of pot in public and private spaces throughout Florida,” Griffin, who lives in Miami, wrote. “That won’t help anyone except special interests – and it will hurt us all, especially in dangerous ways, a greater risk of addiction among our youth, and an increase in crime. “
Griffin wrote that “increased crime, suffering among children,” and “decreased quality of life in Florida’s vibrant communities” would be inevitable if Amendment 3 were to pass. pass, citing similar efforts in California, Colorado and New York that he called “mistakes.” .”
A 2022 study published in the Journal of Studies on Alcohol and Drugs found that the legalization of recreational marijuana is associated with an increase in traffic accidents and homicides. However, a study from Colorado University Boulder found that legalized recreational cannabis was not associated with an increase in substance use problems or other drug use among adults and it finds no link to an increase in mental, psychological, social, relational or financial problems. Meta-analyses comparing the results of multiple studies on the effect of marijuana law on crime rates are often inconclusive.
“With great educational opportunities in the community and a thriving economy, Florida is a shining example of how good government improves people’s lives, and I thank all Floridians for making this possible,” Griffin said in a statement. Business Insider when it arrived. for feedback.
He added: “I have lived through the suffering of deviant politicians in other countries whose policies destroy jobs, promote crime, destroy schools and destroy communities. To support policies and principles that will promote Florida is the best place to live, work and raise children in America.”
Griffin moved his hedge fund, Citadel, from Chicago to Miami in 2022. This summer, he announced his plan to expand Citadel’s office space to include two more floors in its proposed multi-story building. 55 in that city.
Although he has been a political donor for years – spending hundreds of millions of dollars to support various causes and elections – mostly Republican, according to the OpenSecrets campaign fundraiser – it appears that Citadel is move to Miami, Griffin is getting more involved. through Florida’s unique efforts.
Florida’s Amendment 3 is sponsored by the political committee Smart & Safe Florida. Representatives for the organization did not immediately respond to a request for comment from Business Insider, but the group, through social media posts, attempted to refute the points made by Griffin in his op-ed.
“The biggest benefit of legalizing marijuana? LACK of youth use. That’s right,” Smart & Safe Florida wrote in a Sunday post on X, related to the US News article. “Study after study has found that the adoption of an anti-prohibition law led to a decrease in youth marijuana use and an increase in college enrollment.”
Polls released this week by local news outlet The Florida Phoenix showed that the measure is likely to pass, receiving the support of 64% of voters.
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