Oklahoma Marijuana Industry Faces Steep Decline
Oklahoma's marijuana industry undergoes a major contraction as state officials enforce stricter regulations and clamp down on illegal grows. Thousands of licenses have been revoked or abandoned following years of rapid, loosely regulated market expansion.
Oklahoma's medical marijuana market has plummeted from over 13,000 licensed operators to 3,760 in August, wiping out thousands of businesses in a severe industry-wide contraction. The downturn follows a massive oversupply that drove wholesale flower prices down from $2,800 per pound to $800. Surviving operators face tightening state regulations and enforcement actions aimed at eradicating illegal black-market exports.
