Cannabis has only been legal in Oklahoma since June of this year, but residents of the state are trying to cash in quickly. It’s not easy to stand out in a large new market, so it’s still up in the air as to which companies will dominate their niches. One thing that’s certain though is that Oklahoma doesn’t want any barriers for potential businesses to operate. Unlike other states, Oklahoma isn’t placing a cap on the number of MMJ business licenses granted, and counties aren’t allowed to enact zoning restrictions on where dispensaries are able to set up shop.
MMJ Doctors in Oklahoma
Doctors in Oklahoma are also able to permit a medical marijuana card to any patient whose conditions they deem necessary, so patients can most likely get approved for things like anxiety, depression, and sleeping problems; all conditions that don’t usually require lab testing to diagnose. On the west coast, most MMJ doctors see their patients, diagnose them, and give them their MMJ cards all within the same 30-minute visit. Some MMJ companies like Eaze even had an option for patients to become approved via FaceTime and obtain their IDs via email before California legalized recreational marijuana. It was a process that took maybe 2 minutes to complete, which is on par with the level of swiftness Oklahoma seems to be supporting in its quest to make power plays as one of the newest states to support legalization.
High Number of Oklahoma Dispensaries Could Cause Supply and Demand Issues
Since it takes about 8 weeks for dispensaries to grow cannabis that meets the new government regulations, most cannabis shops collected their first sales in the beginning of December. It’s still a mystery how well Oklahoma will do in the MMJ market with such lax restrictions on operating and prescribing cards, however. By not setting a limit and creating a gradual entry-way for the number of marijuana businesses allowed to exist in the state, it could cause a supply and demand problem that could be difficult to compete with for non-specialized businesses. When there are too many growers and too much marijuana, prices have to be low to make up for the saturated market, or businesses have to offer things that their competitors aren’t.