Exciting New Industry Developments In Oklahoma

The cannabis industry in the United States is one that is growing at a rapid and exciting pace. This is due to the increasing number of states in the union that has legalized the product on one level or another. This excitement extended to the state of Oklahoma in 2018 when State Question number 788 officially legalized the use of cannabis for prescribed medical purposes. With the passing of this referendum, Oklahoma officially became the thirtieth state in the United States to pass the legalization of medical cannabis. Since that time, the industry has experienced tremendous growth as many ambitious cannabis entrepreneurs have entered into the growing pool of medical cannabis businesses across Oklahoma. With this in mind, these are the top ten things that residents of the state of Oklahoma should know about when it comes to the cannabis industry in their state.

1. How Many Dispensaries Are Currently Licensed in the State of Oklahoma?

Since medical cannabis was legalized in the state of Oklahoma, there has been tremendous enthusiasm amongst entrepreneurs who have been endeavoring to enter into the business as proprietors of medical dispensaries. To date, the Oklahoma regulatory body governing medical cannabis has approved the licenses for more than 1800 medical dispensaries that will make it possible for patients to get the cannabis products that they need to treat their ailments.

2. Brought Into State Law By Popular Opinion

One question that many might ask about the topic of medical cannabis in the state of Oklahoma is that of how popular the measure was. To reach this answer, one simply needs to look at the election data that was recorded during the 2018 voting process. This data shows that 57 percent of voters cast in favor of the legalization of medical cannabis.

3. What Do the Current Medical Card Numbers Look Like?

The number of Oklahoma residents that have successfully attained medical cannabis cards is an impressive total. The statistics show that close to five percent of the state’s population have obtained their medical card.

4. A Bright Future for Cannabis in the State of Oklahoma

The fact that the state of Oklahoma has approved more than 7 thousand licenses for medical cannabis businesses since legalization is a sure sign that this is an industry with a bright future.

5. How Has the Public Received the Advent of Medical Cannabis in the State of Oklahoma?

The statistics from the referendum vote show that public opinion for medical cannabis in Oklahoma was strong from the beginning. This fact is bolstered by the fact that Oklahoma currently ranks as one of the top states in the USA regarding medical card enrollment.

6. Some Details On Regulatory Compliance

There are specific regulations that medical cannabis businesses must make themselves aware of when operating in Oklahoma. These regulations are concerning topics such as testing of products, labeling of products, tracking or product from seed to point of sale, and management of waste.

7. What Kind of Training and Educational Opportunities Are Available?

The Oklahoma Cannabis Industry Association has been formed as a body devoted to supporting industry growth. A part of this program includes the support of training and educational programs that residents of the state can take advantage of.

8. Additional Information That Cannabis Entrepreneurs Need To Know About Operating In Oklahoma

The medical cannabis business in the state of Oklahoma will be broken down into three primary areas of regulation. These areas are growers, processors, and medical dispensaries.

9. An Industry That Is Already Exceeding Expectations

Expectations were high in the state regarding the potential for medical cannabis business growth and the numbers that have come in are showing that expectations are beyond the initial projections. Beyond the state having one of the highest percentages of medical cardholders, and a large number of dispensary licenses that have been distributed, there are also currently more than 4 thousand licensed growers in the state and more than 1 thousand licensed processors.

10. Other Exciting Developments

The state is currently experiencing an impressive new stream of revenue as a result of medical cannabis legalization. In May of 2019, the state collected more than $1.5 million in excise tax revenue.