Oklahoma voted to legalize medical marijuana in June 2018 and opened its medical marijuana market soon after. The state quickly became a “hot market” due to an open licensing model and broad access to medical cannabis approval.
Legalization Dates:Medical: June 2018 approval of State Question 788 by a margin of 57%-43%, making Oklahoma the 30th state to approve medical marijuana.
Relevant Legislation:Oklahoma Medical Marijuana and Patient Protection Act
Regulatory Bodies:Oklahoma Medical Marijuana Authority (OMMA)
Licensing Model:Oklahoma has an open licensing model with no quota/limit on the available number of medical marijuana licenses. Licenses cost only $2,500, extremely low compared to most other states. As of August 3, 2020, the state had 5,845 active growing licenses, 1,323 processor licenses, 2,073 dispensary licenses, 29 transportation licenses, 10 waste disposal licenses, and 23 laboratory licenses. (Source) Unlike most or all other legal states Oklahoma has no seed-to-sale tracking requirement as of November 2021.
Example Firms: Grow Generation, Curaleaf Holdings (acquiring GR Companies), Acreage Holdings, CBD Plus USA
Industry Associations:Oklahoma Cannabis Industry Association (OCIA), Oklahoma Medical Marijuana Association (OMMA), Oklahoma Women Cann Association (OWCA)
Market Characteristics and Size:As of January 2020, one in 13 Oklahomans held a medical marijuana card and as of Nov 2021 one in 10 Oklahomans had one (380,000). There were more than 2,200 medical dispensaries in the state and over 9,000 grow operations. Medical marijuana cards are valid for two years and rather than establish a list of approved medical conditions eligibility is determined at the discretion of the issuing physician. Oklahoma leads the nation in per-capita dispensaries in medical marijuana states, with 56 per 100,000 residents. Retail sales topped $345 million in 2019, and state tax revenue was $55 million, according to the Oklahoma Tax Commission. (Source)
ArticlesInside the Rise — and Surprising Crackdown — of the Country’s Hottest Weed Market (Politico, Nov 12, 2021)
As of November 20, 2021
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