OK, Let’s Grow:
Business Insights for Operators in the Sooner State
The warm Oklahoma breeze carries a hint of terpenes as customers queue outside a dispensary near Tulsa. Inside, a local grower is onsite to promote his recent harvest and chats with a patient about his cultivation philosophy, while another shopper peruses a fresh stock of Okie-grown joints, analyzing the strain details.
Behind the counter, a digital menu rotates through ounces, small-batch craft flower strains, and a special discount program for veterans. This is a snapshot of the burgeoning cannabis market in Oklahoma, homegrown, entrepreneurial, and accelerating a clip so rapid the state has become one of the most open, dynamic weed markets in the United States.
This blog explores what every operator needs to know to grow their business in a state where license prices are still low, but ambition runs high.
Current Market Landscape
Driven by low barriers to entry and broad patient adoption, cannabis is big business in Oklahoma enabling the region to evolve into one of the nation’s most permissive, entrepreneurial weed markets.
Oklahoma voters approved medical marijuana in 2018 the state has issued over 6,500 dispensary licenses and more than 380,000 Oklahomans are registered patients (roughly 10% of the state population). Legalization is limited to medicinal use and permits the cultivation, possession, sale, and use of marijuana for medicinal purposes, making Oklahoma the 30th state to do so.
Since the inception of Oklahoma’s medical program, sales in the state have been substantial, generating over $1 billion annually and resulted in the state collecting $541.6 million in tax revenue from 2019-2023, as Oklahoma imposes a 7% excise tax on medical marijuana sales, in addition to state and local taxes. The figures indicate a maturing medical market with slight declines in recent years.
Recreational use is still pending, and industry insiders anticipate renewed legislative pushes following failed ballot measure State Question 820 in 2023. Proponents of SQ 820 forecasted that if recreational marijuana is permitted it could generate approximately $1.8 billion in additional annual sales and $434 million in tax revenue over five years.
The number of active licenses in Oklahoma have decreased by nearly 40% due to increased compliance requirements and application moratoriums (including a pause on new licenses through August 2026), and consolidation is pushing savvy operators to expand their footprint and leverage their position for growth.
Projected Growth
The pace of industry growth in Oklahoma is impressive. In 2024 alone, the medical market generated over $1.1 billion in sales with projections pointing to steady demand as patient numbers remain robust.
A regional trend in Oklahoma is that price matters most. Consumers are both sophisticated and price-sensitive, often seeking high-THC flower at value price points, discounted ounces, and loyalty programs. However, product option diversity is on the heels of cost as far as importance to consumers, with growing interest in solventless products, terpene-rich vapes, and edibles as the market matures.
Given the evolving market demands, some dispensaries are moving toward a full-service wellness hub model, offering topicals, concentrates, and niche minor cannabinoid products alongside core flower SKUs.
Loyalty programs, homegrown branding, and compliant education around safety and testing continue to distinguish licensed operators from unlicensed sellers.
Challenges to the Market
Oklahoma’s Medical Marijuana Authority (OMMA) has started to tighten oversight in response to widespread concerns about oversupply and the illicit market.
Oversupply continues to lead to price compression, diversion to the illicit market, regulators being unable to provide enough enforcement and oversight. For example, between March 2024 and March 2025, state tracking systems failed to account for roughly 70 million pounds of marijuana, nearly 30 times the amount needed to supply Oklahoma’s medical cannabis patients.
OMMA reports that about 57% of weed consumed in Oklahoma comes from a legal dispensary with 43% of cannabis consumed in the state originating from unlicensed sources. Competition from Oklahoma’s illicit market adversely impacts licensed businesses, contributing to closures, increased enforcement cost for regulators, and market saturation, leading to reduced margins thanks to intense competition between licensed shops and growers.
In response to industry challenges, Oklahoma has implemented several measures to stabilize and invigorate the cannabis market including a moratorium on new cultivator, dispensary, and processor licenses until late 2026, enhanced enforcement on unlicensed operations through raids and shutdowns, and regulatory reforms are being introduced to improve oversight, like stricter background checks and product testing standards.
Cannabis operators in the state face more rigorous compliance audits, mandatory seed-to-sale tracking and increased enforcement. Still, the relatively low tax rates and minimal licensing fees make Oklahoma one of the most accessible markets for cannabis entrepreneurs.
The Role of Flexible Financing
FundCanna works with cannabis business operators in 43 states, including Oklahoma, offering financial solutions designed specifically for this is industry. With over 600 clients and a track record of helping businesses grow their revenue by over 60%, FundCanna provides flexible working capital, equipment financing, and inventory funding tools tailored to your business goals.
Whether you’re expanding a grow site in Broken Arrow, opening a flagship dispensary in OKC, or adding an extraction line to your product offerings, we’re here to help you seize the opportunity on your terms.
With strategic financial support from FundCanna, cannabis operators can scale, compete, and thrive in Oklahoma’s dynamic, expanding market.
Need capital to grow in Oklahoma? Let’s talk.
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Approvals in as little as 24 hours
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