Oklahoma Governor Kevin Stitt's desire to trim down the number of medical marijuana businesses in his state is being fulfilled.
In March 2023, Governor Stitt said medical marijuana had gotten "way out of control" in Oklahoma and he signaled there would be a further tightening up of guidelines and monitoring. A subsequent study found the supply of regulated medical cannabis in the state was outpacing patient demand by a factor of 32. However, 43% of the cannabis consumed was originating from illicit sources.
A crackdown ensued, with thousands of businesses (legal and otherwise) inspected. While this no doubt has had an impact on illegal sales, the changing environment in Oklahoma and the level of competition are also having an impact on the legal industry as well.
According to NCS's Transparency Project, there were 6,448 active commercial licenses in June this year covering dispensaries, transporters, growers, and processors. As of December 2024, there were 5,784.
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