State, local marijuana industry breaks records in 2020, doubling 2019 revenue

cannabis buds in a pile

In 2020, Norman’s medical marijuana industry quickly proved to be an emerging market.

The marijuana industry locally and statewide more than doubled its revenue compared to 2019, as the state’s new industry grew to one of the biggest marijuana markets in the country. While some attribute the industry’s success to the COVID-19 pandemic, others suggest medical marijuana would’ve seen continual growth in 2020 regardless.

Below is a summary of the industry’s growth in 2020 in Norman and statewide, its impact on local residents and what experts expect for medical marijuana in 2021.


As medical marijuana booms in Oklahoma, could recreational program be next?

two people sharing a cannabis joint

The coronavirus pandemic made 2020 one of the worst years financially for most industries in the United States. Restaurants, bars, airlines, oil and gas all saw hard times last year.

But one industry in Oklahoma saw a boon in 2020: Medical marijuana.

"Really taking a look at the tax numbers over that time, climbed really steadily, and reached a peak of $5.5 million in that excise tax collection in June of 2020," says Dr. Kelly Williams, the interim Director at the Oklahoma Medical Marijuana Authority. "Just a year before, in June of 2019, we only had $2.1 million in excise tax collection."


State marijuana dispensaries saw increase in revenue in November

small glass jar with a cannabis bud inside

After three straight months of declining sales, statewide medical marijuana dispensaries saw an increase in revenue in November.

According to the most recent data from the Oklahoma Tax Commission, statewide dispensaries remitted $11.8 million in total revenue in November, an increase of more than $1 million from the $10.7 million dispensaries remitted in October. The latest OTC marijuana data reflects data collected two months prior.

November marks the first month since July that statewide dispensaries remitted more revenue than the previous month.


Cannabis Companies Continue Holiday Fundraisers for Communities Nationwide

christmas lights and a hand holding a small plastic heart

Holiday festivities have been curtailed by the global resurgence of the COVID-19 pandemic, and its unprecedented social and economic effects. During this turbulent season, cannabis companies all over North America continue to do what they can to support local charities and populations in need.

So, let this 2020 holiday season be lit with the warmth of giving. Here’s a short list of holiday fundraising activities led by cannabis industry members, bringing happiness and help to so many for the season as we all look forward to a new year in 2021:


How One of the Reddest States Became the Nation’s Hottest Weed Market

Man in front of greenhouse plants

One day in the early fall of 2018, while scrutinizing the finances of his thriving Colorado garden supply business, Chip Baker noticed a curious development: transportation costs had spiked fivefold. The surge, he quickly determined, was due to huge shipments of cultivation supplies—potting soil, grow lights, dehumidifiers, fertilizer, water filters—to Oklahoma.


More Than Half Of US States Have USDA Approved Hemp Plans

After a flurry of activity, 27 US states now have hemp plans approved by the US Department of Agriculture.

The passage of the 2018 Farm Bill saw hemp no longer classified a Controlled Substance, and the USDA was directed to approve hemp production plans submitted by states and Indian tribes to ensure hemp would be grown in harmony with the Bill and regulations set by the Department.


This 10-year-old boy says CBD helps ease his symptoms of Tourette Syndrome

A 10-year-old boy with Tourette Syndrome says CBD has helped him and he’s wondering if it could do the same for others.

Bryson Jones recently released a video, marking Mental Health Day, in which he details his experience with Tourette Syndrome and how CBD has worked for him.


Oklahoma's Numerous Dispensaries Presents Distribution Challenges For Brands

To understand the unique distribution challenges of Oklahoma’s exploding cannabis market, one must first address the question that has preoccupied researchers, entrepreneurs, and investors ever since Oklahoma became second in the nation for dispensaries per capita, trailing only Oregon. That question being,  “Why Oklahoma?” According to a 2018 Verilife study, for every 100,000 Oklahomans there are approximately 15.6 dispensaries.


CannaCon: Grow the Industry With Us

CannaCon the seminal cannabis convention is coming back to Oklahoma City Monday, September 28 to Tuesday, September 29 at the Cox Convention Center.

With over 100 exhibitors showcasing some of the best products in the industry including world class genetics, the latest in packaging, and the latest in extraction equipment, you will find everything you need to grow your cannabis business. CannaCon is dedicated to supporting emerging markets, and Oklahoma is home to a quickly growing medical cannabis industry.


Medical Cannabis Testing Lab In Oklahoma Under Investigation

The regulatory agency charged with overseeing Oklahoma’s medical marijuana program has opened an investigation into a cannabis testing lab in the state over allegations of false product test results, Tulsa World reported on Monday.

A spokesperson for the Oklahoma Medical Marijuana Authority confirmed to the newspaper that the Oklahoma City-based F.A.S.T. Laboratories “has pending inquiries with the OMMA and the Oklahoma Bureau of Narcotics and Dangerous Drugs.”


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