More than half of Florida voters approved of Amendment 3, but it did not reach the required 60 percent threshold to pass.

A ballot measure to legalize the recreational sale and use of marijuana in Florida failed to pass late Tuesday, sending shares of pot companies into freefall and dealing a blow to cannabis firms that had invested millions in the legalization campaign.

Florida voters Tuesday rejected an amendment to the State Constitution that would have allowed adults 21 and older to use and possess marijuana for non-medical purposes, according to NewsNation/Decision Desk HQ.