Children Riding on Parade Floats; Is It Dangerous? [POLL]

My son is part of a great Martial Arts Program in Twin Falls and they have invited all of the students to ride on a float or walk beside the float in the Western Days Parade. I am an overly protective parent so I often think like a crazy person and this may be a prime example of that. My son is five years old and wants to participate in the parade. Even though he is with people I trust, is he old enough to be in a parade without me?