The Oklahoma medical marijuana market has seen a significant contraction of about 38% over the past year, according to a newly released report from the Oklahoma Medical Marijuana Authority (OMMA). The data indicates that as of July 2024, there are 6,937 licensed operators in the state, a sharp decline from 11,330 the previous summer and down from more than 14,000 businesses at its peak.
This ongoing decline in the cannabis market has been attributed to intensified enforcement efforts by both regulators and law enforcement. The OMMA noted that the closure of businesses is a direct result of these focused efforts to ensure compliance with state regulations.
OMMA Director Adria Berry emphasized the importance of these enforcement actions, stating that they have spent the last three years working diligently on bringing the industry into compliance. Berry highlighted their collaboration with the state Attorney General’s Office and the Oklahoma Bureau of Narcotics and Dangerous Drugs Control to tackle issues of fraudulent activity and to hold accountable those prioritizing profits over public health and safety.
Licensed cultivators experienced the largest drop, with numbers falling from 6,497 two years ago to just 3,645 last July, marking a dramatic decrease of 43%. Retailers and processors also faced reductions, albeit smaller in scale, but still significant. The number of legal dispensaries fell from 2,852 to 2,081, a decrease of 27%. Similarly, the number of processors dropped to 1,092 from 1,792, a decline of 39%, all occurring between July 2023 and July 2024, as reported by the OMMA.
Additionally, the number of registered medical marijuana patients in Oklahoma has decreased slightly, dropping to 344,556 from 353,437, which reflects a decline of about 3%. This analysis by the OMMA was first reported by the Tulsa World.
Overall, these statistics signal a challenging environment for the Oklahoma cannabis industry, showcasing the impact of stricter regulations and enforcement on market dynamics.
