MJBiz - September/October 2024 - 42

HIGH STAKES
V O T E
FUNDING
POLITICAL
ON THE RISE
Industry individuals increase donations to federal candidates
By Andrew Long
P
olitical contributions from
marijuana companies have
grown with the industry,
according to data collected by Open
Secrets, a nonpartisan nonprofit
tracking money in U.S. politics.
The first substantial contributions
from the industry, upward of
$61,000, came during the 2014
campaign cycle. At that time,
medical marijuana was established
in more than 20 states, and
recreational cannabis was gaining
a foothold in Western states,
including Alaska, Colorado and
Washington.
The rise of recreational marijuana
pushed contributions higher in the
coming years, as the industry tried
to influence Congress to consider
rescheduling-or, at a minimum,
better access to banking.
Democrats Benefit
Between 2018 and 2022, the
average yearly contribution from
the marijuana industry hovered at
$600,000 per campaign cycle.
As of June 21, the amount
contributed for the 2024 campaign
cycle was just under $300,000.
Democratic candidates have been the
benefactors of most of that money.
While the amounts vary from
cycle to cycle, more than 66% of
political contributions from the
marijuana industry have been to
Democratic candidates since 2014.
In 2020, Democratic candidates
received 82% of contributions; in
2018, the number was 41%.
The contributions from the
marijuana industry come mostly
from individual donors rather than
political action committees (PACs)
or other soft-money organizations.
Since 2014, more than 66% has come
from individuals.
Top Donors
The leading donors from marijuana
corporations and associations so far
in the 2024 campaign cycle are:
* Advanced Nutrients, a California-based
fertilizer company
specializing in cannabis, which
has contributed roughly $78,000.
* Cresco Labs, one of the largest
publicly traded multistate MJ
companies, contributed $75,000.
* The U.S. Cannabis Council has
donated close to $44,000.
Top Recipients
No one candidate has received an
overwhelming amount from the
marijuana industry. That said, as
of June 21, the following candidates
were ahead in donations:
* Republican U.S. Rep. David Joyce
from Ohio was the top recipient
with $22,700 from marijuana
contributors.
* Democratic U.S. Sen. Kirsten
Gillibrand from New York
received more than $20,000 in
contributions.
* U.S. Sen. Kyrsten Sinema, an
Arizona independent, received
more than $10,000 in cannabis
contributions.
The remaining top 10 recipients of
marijuana contributions averaged
around $6,000 each in 2024.
42 September-October 2024 | MJBizMagazine

MJBiz - September/October 2024

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