Wednesday, April 17, 2024

Big crackdown on Marijuana Businesses in Oklahoma

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The Oklahoman medical marijuana program has prospered in recent years due to its rather lax system to obtain a medical card. However, it’s still just medical, and that requires some hurdles that lots of people don’t want to go through. So the illicit market is just as strong.

After an investigation that found untraceable marijuana, five businesses were closed and thousands of pounds of weed was seized.

In June, a report found that the supply of marijuana in the medical market was 32 times higher than the demand. That’s a huge amount of marijuana that would be wasted if not moved over to the illicit market, so that’s exactly what happened.

MJBizDaily reports that this is a correction from the early “gold rush” phase of the market in Oklahoma, where production went unchecked and unregulated for years, allowing a large amount of unlicensed marijuana operations to prosper.

This is not just a problem for this single state. In California and many other markets are dealing with overproduction and an overall devaluing of product due to too much supply.

Read the original story at MJBizDaily.

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