A newly published state report shows that the Oklahoma medical cannabis market shrank by approximately 38% during a 12 month period between July 2023 and last summer.
Oklahoma Medical Marijuana Authority, or OMMA, shared the statistics in a report that was filed to the legislature. The update stated the following: the industry, as of the summer of 2024, stood at 6,937 operators. That’s down from 11,330 businesses the prior year, and down again from over 14,000 companies.
According to the report, while cannabis businesses have been closing for many years, their scale is shocking. It’s the result of a focused enforcement effort by law enforcement and regulators.
In the report, OMMA director Adria Berry stated that “we collectively focused on enforcement efforts over the past three years. We brought the industry in compliance with OMMA regulations and identified fraudulent activity at the beginning through a rigorous review of commercial license applications.”
“We forged strong partnerships with the state Attorney General’s Office and the Oklahoma Bureau of Narcotics and Dangerous Drugs Control to tackle enforcement together … Our goal is to hold accountable operators who prioritize profits over public health and safety,” Berry wrote.
In July last year, the number of licensed growers dropped from 6,497 to 3,645 – a drop of 43 percent.
The number of retailers and processors shrank as well, although at a smaller scale, with still drastic margins.
OMMA reports that between July 2023 to July 2024 the number of dispensaries dropped from 2,852 to 2,081, a 27% drop, and the number processors fell from 1,792 to 1,092, a 39% decline.
OMMA reports that medical marijuana registrations also decreased, falling from 353,437 to 344,556. That’s a 3% drop.
Tulsa World was the first to report on OMMA’s findings.
OMMA Annual report FY 2024