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Oklahoma’s Regulated Cannabis Market is on Fire 

reasons to visit okc

Oklahoma’s Regulated Cannabis Market is on Fire 

regulated cannabis sales

Oklahoma Sets a Record for Regulated Cannabis Sales in April and Beyond.

Oklahoma’s Messy Relationship with Cannabis

Like other states in the United States, and dating back to Prohibition, Oklahoma has had a messy relationship with cannabis. During the early thirties, Oklahoma state legislators outlawed cannabis Sativa use for any reason, thus criminalizing the possession or manufacturing of the plant for Okies until the Marijuana Tax Act of 1937 when legislators decided cannabis should be taxed by the government. This taxation process lasted until the 1970s when cannabis was again criminalized, only this time as a Schedule 1 Controlled Substance.  

On June 26th, 2018 Oklahomans got their first glimpse into legalized medicinal cannabis. Overseen by the Medical Marijuana Authority, this state-sanctioned program issued some 300 thousand medical cards for Oklahomans since legalization. In September of that same year, lawmakers decriminalized simple possession of cannabis removing the 6-month jail term threatened for the offense. Still, an enormous fine of $400 to pay as a consumer, but just 1/3rd of the previous $1,200 fine for possession. 

Today’s Okies enjoy the right to carry up to 8oz of regulated cannabis with possession of an mmj card, according to Oklahoma NORML, which could be why there’s been so much legal pot sold in 2020!

April Cannabis Showers

April brought more than showers and stay at home orders for the Oklahoma cannabis market. Cannabis consumers there spent the month of April buying and consuming regulated cannabis at impressive rates. The record April sales are equivalent to more than $700 million on an annualized basis, which would double last year’s sales!

Industry insiders credit the firey sales to the usual 4/20 increase in cannabis consumption. Considered a holiday to cannasseurs, dispensaries offer deals and sales to commemorate. It’s also believed that neighboring consumers from Arkansas are crossing state lines for their cannabis, thus contributing to possible inflation. Sometimes half the price, many take the hike and their chances to an Oklahoma dispensary. 

Yet another potential reason for the booming sales is the ability of Oklahoman dispensary owners to pivot to curbside sales of their product. Deemed an essential business in response to COVID-19, dispensaries have been the unsung heroes of the pandemic. 

Blazing Ahead

Also celebrated for their quick movement in hemp cultivation initiatives, Oklahoma continues to show states like California up in the regulated cannabis game. An unusual star in the market, thanks to manufacturers, processors, dispensaries, and most importantly, patients, Oklahoma is an example of how to launch a successful and mutually beneficial medical cannabis program. The Oklahoma cannabis community experienced an unexpected setback back in May when Gov. Kevin Stitt vetoed a bill that would’ve allowed home delivery of regulated cannabis. 

Despite setbacks and in just over 2 years since state-determined legalization, Oklahoma has created one of the most impressive markets in the country. With over 5% of state residents registered as MMJ patients, they show no signs of letting up either. 

Regulated Cannabis Sales: Stay in the Know

CannaCon Oklahoma has been postponed until September 28-29, 2o20, which means you still have time to get your tickets and join us! You’ll have the opportunity to network with industry leaders and meet likeminded business owners and cannabis users. Get your tickets today! We can’t wait to see you!

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