A costly campaign to legalize recreational marijuana in Florida failed Tuesday and California voters took a step toward tough crime laws as voters in dozens of states weighed more than 140 measures appearing on the ballot alongside races for president and top state offices.

(Reuters) -Shares of pot companies slid on Wednesday after a ballot measure to legalize the recreational use of marijuana in Florida failed to get the required majority to pass, even as the firms invested millions in a campaign to tap the lucrative market.

Florida voters rejected a ballot measure that would have legalized recreational marijuana for adults at least 21 years old and allowed them to possess up to 3 ounces of marijuana. It failed to obtain the required 60% threshold at a time when the U.