How will recreational marijuana affect Oklahoma’s medical marijuana industry?
An amendment to Oklahoma’s state Constitution filed on December 12th would create the framework for a legalized recreational marijuana industry. State Question 806, if passed, would protect the personal use of marijuana for those 21 years old and older.
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While this sounds great, cannabis businesses operating in Oklahoma should take note that the amendment does contain language that may allow municipalities more power in their ability to limit recreational marijuana retail licenses.
It’ll be interesting to see how this amendment aligns with State Question 788, which legalized the sale, growth, and licensed use of marijuana in Oklahoma for medicinal purposes.
From a forward-looking business perspective, existing Oklahoma cannabis businesses should expect an 18% to 20% decline in medical marijuana cardholders, which will result in decreased sales.
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This article was originally featured on our cannabis lifestyle blog Cannabis Culture CPAs