INDUSTRY DEVELOPMENTS State by State Florida A cannabis investor sued state regulators for allegedly approving a request by private equity firm Gotham Green Partners to have ownership positions in two vertically integrated medical marijuana licenses in the state. Investor Michael Weisser and medical cannabis patient advocates filed the suit, which cited the state's medical marijuana law that prohibits an individual or entity from " directly or indirectly " having an ownership stake greater than 5% in more than one license. The Florida Office of Medical Marijuana Use granted a variance to Gotham Green that allows the New York-based investment firm to own more than 5% of iAnthus Capital Holdings and MedMen Enterprises licenses. Separately, Florida regulators received a dozen applications and some confusion over a vertically integrated medical cannabis license reserved for a Black farmer. Applicants included Black farmers backed by investors with strong financial resources, according to documents posted on the Florida health department website. The documents were heavily redacted, but the correspondence reflected confusion about the process, including a requirement to be in business in the state for at least five years.