DeSantis has pulled out all the stops to prevent the initiative, which appears as Amendment 3 on Tuesday's ballot, from reaching the 60% voter approval needed for constitutional amendments in Florida. The proposal would effectively decriminalize possession of up to 3 ounces of marijuana by adults ages 21 and over.

The ballot measure's defeat could strengthen the industry as it struggles to compete with hemp-based products sold at gas stations, CBD shops and online at a fraction of the cost.

Florida Gov. Ron DeSantis says a constitutional amendment legalizing recreational marijuana is funded primarily by one of the nation's largest cultivators and is the most expensive one in the country's history.