Marijuana investors await Oklahoma's regulations

Many Oklahomans are looking to invest in the state’s future medical marijuana industry but must wait for the reveal of regulations. 

According to the Tulsa World, investors are forming their plans but are unsure of how to keep their businesses up to code.

The Oklahoma Medical Marijuana Authority recently announced 1,298 business licenses have been applied for as of Sept. 5. Divided into categories the numbers reveal 452 for dispensary, 662 for cultivation and 184 for processing.

Several regulations have been suggested but until the Legislature returns to session nothing can be done.

Business owners are frustrated because they want to move forward with their plans but they’re unsure of potential consequences.

Megan Dedmon, owner of Wild Woman Wellness, an Oklahoma City CBD shop, told the Tulsa World she’s fine with waiting and being patient.  

“I’m taking my time to file for a license because I don’t want to waste my $2,500,” Dedmon said. “I already have a solid business plan in place just waiting for these last regulations to get finalized.”

Oklahoma Cannabis Trade Association representative Chance Gilbert said if the Legislature waits until the next scheduled meeting in February then lawmakers could get away from the original purpose of State Question 788.

“We need these things to happen right now. Not after November, not next year, because at that point, lawmakers are not held accountable for what they do by the voters,” said Gilbert, who wants a special session called before election season comes and goes.

Legislature members will discuss acceptable THC levels and what business owners can put on their shelves among other items.

Investors are merely playing the waiting game until decisions can be made.

Information provided by the Tulsa World.

The Gayly. 9/11/2018 @ 4:20 p.m. CST.