Oklahoma continues to hold the crown for some of the lowest marijuana prices in the United States. Despite recent efforts to rein in production, the state’s high output and crowded market keep cannabis costs far below the national average. According to a newly published pricing guide by LeafLink, which tracks wholesale sales across 18 states, Oklahoma ranked as the cheapest state in nearly every category of cannabis products from flower to concentrates to edibles. Only Oregon managed to undercut Oklahoma slightly on pre-rolls.
This trend of low cannabis pricing isn’t unique to Oklahoma, but the Sooner State offers a striking example of what happens when supply overwhelms demand. As states legalize medical or recreational marijuana, growers rush to secure licenses and flood the market with product. Without strict caps on cultivation, oversupply drives down wholesale rates, leaving businesses fighting for survival in a race to the bottom.
Industry leaders argue that regulators share some responsibility for this glut. In the early stages of legalization, states often prioritize accessibility over regulation, issuing thousands of business licenses with little restriction. As Beau Whitney, a cannabis economist, explained, unlimited licenses create a lopsided market where supply vastly exceeds consumer demand. The result? Persistently low cannabis prices that undercut profitability.
Oklahoma has recently attempted to correct course by pausing the issuance of new licenses and tightening compliance requirements. The number of licensed businesses has dropped sharply, from over 8,700 in late 2023 to around 5,150 today. Growers alone have fallen by nearly one-third. Yet, even with fewer operators, the market remains saturated. Large farms still produce thousands of plants, much of which goes into concentrates.
For consumers, these low cannabis prices might feel like a win. But for growers and processors, they represent an ongoing struggle. As Brent McDonald of Apothecary Extracts & Farms pointed out, many hoped fewer growers would boost concentrate values, but the absence of plant count limits keeps product flowing and prices depressed.
Other recent changes are also shaping the market. New packaging requirements for marijuana flower were expected to raise costs, and testing lab suspensions have temporarily tightened supply. Still, analysts believe these bumps will only cause short-lived price fluctuations rather than reversing the long-term trend of low cannabis costs.
Looking forward, the biggest potential shift could come if State Question 837 makes the ballot. If approved, Oklahoma would legalize recreational sales, further expanding access. Whether that would lift or further depress Oklahoma’s low cannabis prices remains to be seen, but one thing is clear: the state’s market continues to be one of the most competitive and affordable in the country.