Oklahoma green lights 7,000-plus medical marijuana licenses in first year

Oklahoma regulators approved more than 7,300 business licenses in the first year of the state’s high-flying medical cannabis program, including nearly 4,300 grower permits, according to recently released figures.

The state also opened up applications for a new stand-alone license category: transporter. Previously, only licensed growers, processors or dispensaries could receive a transporter permit.

New rules are kicking that will institute industry-standard compliance systems and could accelerate a market shakeout in Oklahoma’s wide-open MMJ program.

A new medical cannabis company now must show more residency proof to ensure that 75% of the entity’s owners are Oklahoma residents.

Other rules in the coming weeks and months will deal with package labeling, product testing, waste management and seed-to-sale tracking.

Here is the breakdown of business license approvals in the first year, according to a tweet from the Medical Marijuana Authority:

  • Growers: 4,287
  • Processors: 1,173
  • Dispensaries: 1,848

Regulators approved applications from 178,173 patients to buy and use medical marijuana products.

Marijuana Business Factbook projects that Oklahoma MMJ sales will reach $140 million-$180 million in 2019, the first full year of market operations, exceeding original projections.

Jeff Smith can be reached at [email protected]

6 comments on “Oklahoma green lights 7,000-plus medical marijuana licenses in first year
  1. Chris Cahill, JD MBA on

    1 Dispensary per every 100 patients is not going to pan out no matter how easy or low cost the license was to obtain. While applaud the free market approach, people will be desperate to survive which is not great for compliance.

    Reply

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