Storm Updates & Anti-Cannabis Investments

It’s Monday, Orlando. With Hurricane Debby continuing to intensify, we’ll likely see windy conditions today with substantial showers and storms. Highs will reach 84° with lows of around 78°. More on the weather in a bit. Here’s what’s on deck:

  • Hurricane Debby Approaches Florida with Increased Strength

  • What Happened This Weekend?

  • Florida-Based Hedge Fund Founder Investing $12M to Oppose Recreational Marijuana

Let’s dive in.

WEATHER

Hurricane Debby Approaches Florida with Increased Strength

Satellite image of Debby from Sunday night. Image: NOAA

What’s happening: Debby, now categorized as a hurricane, is gaining strength as it moves toward Florida’s Big Bend, with expected landfall this morning.

Details:

  • Location & movement: As of 8 PM Sunday, Debby was 90 miles southwest of Cedar Key, moving north at 12 mph.

  • Forecast: The storm is expected to turn northeast and could see winds up to 95 mph before making landfall. It will then travel slowly across northern Florida and southern Georgia.

Orlando impact:

  • Warnings: A tornado watch is in effect for Central Florida, including Orange, Osceola, Lake, Volusia, and Polk counties, until 6 AM Monday.

  • Rain & flooding: Orlando and surrounding areas could see 2-4 inches of rain, with higher amounts possible north of I-4. Flooding risks are significant, particularly with the potential for 15-20 inches of rain in other parts of the state.

  • Power & safety: State and local authorities are preparing for potential power outages and debris. Governor DeSantis advised residents to stay informed and ready for possible impacts, including flooding and downed trees.

What’s next: Emergency services and the Florida National Guard are mobilizing in anticipation of the storm. Residents should finalize preparations, avoid travel during the storm, and stay away from floodwaters.

A QUICK RECAP

What Happened This Weekend?

Image: Orlando City

  1. Shorthanded Orlando City came out victorious in a close one against San Luis last night, winning in PKs to finish top of their group in the Leagues Cup. The club will play again on Friday night in the Round of 32 against Cruz Azul.

  2. The Pride lost a heartbreaker on Thursday night and were eliminated from the Summer Cup after Racing Louisville FC took the win in penalties 4-3 following a 1-1 draw in regulation.

What about this week? Tropical Storm Debby looks to be the main event of the week, and you can stay updated via The Weather Channel’s Hurricane Central here.

STATE LAWS

Florida-Based Hedge Fund Founder Investing $12M to Oppose Recreational Marijuana

Ken Griffin. Image: Lionel Ng / Bloomberg

Driving the news: Ken Griffin, Citadel founder and billionaire, is investing $12 million to oppose a Florida ballot amendment for legalizing recreational marijuana. The amendment, needing 60% approval in November, could create a monopoly for large dispensaries and allow widespread public cannabis use, according to Griffin.

Big picture: Griffin's influence extends beyond marijuana; He's also contributing $8 million to Republican candidates in Florida's legislature. Known for his active role in state politics, Griffin previously opposed a casino expansion and diluted a proposal restricting Chinese nationals' real estate purchases.

What’s next: A University of North Florida poll shows 64% of Floridians support legalization, but Governor DeSantis and Griffin warn of increased drug use and public nuisance if passed. The outcome remains uncertain as both sides intensify their campaigns, with a vote taking place in November.

QUICK HITS

In Other News…

Image: South Florida Business Journal

  1. New padel courts were proposed to be installed at a site near downtown Orlando. The facility would include eight outdoor courts, locker rooms, a store, and a restaurant.

  2. A new 9,000-square-foot food hall was proposed for the Mills 50 district, which, if approved, would be converted from a current post office site.

  3. An Intercontinental Hotel location is coming to I-Drive, a first for Orlando with the brand’s only other Florida spot located in Miami.

  4. ADP ranked the best and worst cities for recent grads. Check out how Orlando stacked up here.

Thanks for tuning in to today’s edition of the newsletter. See you back here tomorrow.

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