Oklahoma’s medical cannabis market has 32 times more supply than demand

A recent study commissioned by the Oklahoma Medical Marijuana Authority (OMMA) shed light on the significant oversupply issue in the state’s medical cannabis market. The study, conducted by Cannabis Public Policy Consulting, revealed that Oklahoma has 32 times more regulated medical cannabis than the demand from licensed patients.

OMMA’s executive director, Adria Berry, stressed the importance of addressing the oversupply for public health safety. Berry emphasized the need for strategic partnerships, compliance monitoring, and policy advancements to promote safety and prevent illicit activities.

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The study also highlighted the link between the oversupply and the presence of an illicit market. Approximately 43% of cannabis consumed in Oklahoma originates from illicit sources, raising concerns about production management and potential out-of-state diversion.

To tackle the issue, OMMA, along with the state’s Bureau of Narcotics and Dangerous Drugs and the legislature, has taken steps to implement production management tools and extend the moratorium on cultivation licenses. Additionally, enforcement efforts and intelligent regulatory technology will be employed to improve supply-to-demand ratios and maintain a healthier market.

The study serves as a baseline to evaluate the effectiveness of these efforts over time. It also emphasized the importance of retail count and regulations in supporting a fully legal market and competing with the illicit market.

Moving forward, Oklahoma aims to strike a balance between supply and demand, ensuring a sustainable and well-regulated medical cannabis market.