Miami Beach’s economy is increasingly touched by Florida’s maturing medical cannabis market, even though voters narrowly failed to approve adult-use in November 2024 and public consumption remains illegal in the city. Florida’s Amendment 3 drew roughly 55–56% support—short of the 60% needed—so the market stays medical-only for now. At the federal level, rescheduling cannabis to Schedule III is actively under review; if finalized, it would ease tax pressures on licensed operators without fully legalizing interstate commerce.

Patient demand underpins the current economic footprint. As of April 2025, Florida reported about 909,700 qualified patients with active medical marijuana ID cards, and the Office of Medical Marijuana Use (OMMU) continues to post substantial weekly dispensations—steady signals of retail throughput. Employment trackers place Florida among national leaders with roughly 30,000 cannabis jobs in 2023, implying sizable downstream activity in logistics, professional services, and compliance that aggregates in Miami-Dade.

Tourism remains the region’s growth engine and frames cannabis-adjacent upside. Greater Miami & Miami Beach set records in 2024 with more than 28 million visitors who spent about $22 billion, supporting roughly 209,000 jobs across lodging, dining, arts, and nightlife. While public consumption is illegal—including beaches, parks, sidewalks and cafés—cannabis-curious visitors still influence spending patterns: wellness-oriented hotels, CBD retail, private-venue experiences, physician consultations for eligible residents, and hospitality offerings tailored to “sober-curious” travelers all see incremental demand. In short, even without adult-use, visitor dollars touch adjacent categories that benefit local operators and vendors.

Local rules channel where dollars land. Miami Beach permits medical cannabis treatment centers only in specified districts and requires separation from schools and from other dispensaries; public smoking is expressly prohibited and carries defined penalties. That deliberate geography curbs over-concentration, encourages higher-quality buildouts, and promotes compatibility with neighboring hospitality uses. For landlords and developers, well-sited medical dispensaries can offer stable tenancy and tenant-improvement investment, while architecture, security, HR, marketing, and legal services see repeatable fee work.

What’s next? Three forces will set the pace. First, federal rescheduling. Moving cannabis to Schedule III would lift the punitive 280E tax burden, improving free cash flow and spurring store refreshes, technology upgrades, and hiring—spillovers that benefit Miami Beach contractors, agencies, and service firms. That said, Schedule III would not by itself allow interstate commerce or on-premise consumption; it is a profitability and capital-access story more than a demand shock. Second, patient growth. Florida’s patient base continues to expand, albeit at a slower rate, sustaining a baseline of demand for dispensary retail, telehealth, accessories, and delivery logistics that clusters around Miami-Dade. Third, tourism momentum. If Miami-Dade sustains record visitation, cannabis-adjacent spending—wellness experiences, CBD retail, and private events—should grow in step, provided the city keeps public-use rules clear and enforcement predictable.

Policy pragmatism will determine how much of that upside accrues locally. Practical steps include: maintaining clear public-use signage and hospitality training; streamlining permitting within designated zones; encouraging operator-to-tourism-bureau data sharing to quantify visitor spend; and supporting small-business pathways for local vendors entering cannabis-adjacent services. Balanced this way—welcoming regulated commerce while safeguarding the destination experience—Miami Beach is positioned to harness cannabis’s economic benefits without compromising brand or quality of life.