Tokelahoma’s days are numbered. The world’s wildest cannabis market — which at its peak had nearly 14,000 licensed medical cannabis businesses — has been steadily shrinking since Oklahoma voters overwhelmingly rejected a recreational legalization referendum in March.
Heightened enforcement by state regulators and law enforcement is pushing some businesses to shut down. Others are simply realizing that Oklahoma is producing so much weed — a staggering 64 times the volume needed to serve the state’s medical patients, according to a recent study — that it’s impossible to make any money.
At the same time, the potential customer base is shrinking: There are just under 350,000 people enrolled in the medical program, down from a peak of more than 385,000.
“It’s just too big. It’s just causing too many problems,” said Chip Baker, a veteran weed entrepreneur who moved from Colorado to Oklahoma in 2019 to take advantage of the launch of the medical market. “Everybody’s struggling.”
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