Oklahoma Prolongs Medical Cannabis License Moratorium to 2026 Amid Regulatory Review

1.5 min readPublished On: November 22nd, 2023By

LOS ANGELES- In a significant move for the state’s cannabis industry, Oklahoma has decided to extend its moratorium on new medical cannabis licenses up to 2026, as reported by Tulsa World. This extension hinges on a critical condition: the moratorium will remain unless the Oklahoma Medical Marijuana Authority (OMMA) concludes that all pending license reviews, inspections, and investigations have been satisfactorily completed.

Implemented over a year ago, the moratorium reflects the state’s ongoing efforts to manage its burgeoning medical cannabis sector. OMMA Communications Manager Michael Kimball expressed doubts about the possibility of lifting the moratorium before 2026, given the backlog of thousands of license reviews still pending.

State data paints a picture of a rapidly evolving landscape. As of November 2020, Oklahoma had 5,905 active cultivation licenses, which surged to 9,178 by November 2021. However, following the introduction of the moratorium in August 2022, the number of active licenses saw a decline to 7,167. Notably, the moratorium does not affect the renewal or sale of existing licenses.

The decision to extend the moratorium stems from a broader clampdown on illicit activities within the state’s medical cannabis industry. In recent years, the Oklahoma Bureau of Narcotics has been actively targeting unauthorized cultivators accused of diverting cannabis outside the legal channels. Over the past two years, the bureau has shut down over 800 such operations that were ostensibly operating under the medical cannabis program’s umbrella. Furthermore, OMMA recently announced plans to revoke licenses from 165 cultivation facilities that failed to comply with mandatory signage requirements introduced in last year’s legislation.

This development underscores Oklahoma’s commitment to regulating its medical cannabis industry more stringently. By extending the moratorium, the state aims to ensure compliance and integrity within the sector, prioritizing a thorough review and inspection process over rapid expansion. The outcome of this extended moratorium will likely have significant implications for both existing and prospective participants in Oklahoma’s medical cannabis market.

About the Author: HCN News Team

The News Team at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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