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Virginia & Oklahoma Marijuana Opportunities


The heart states are moving slowly in terms of cannabis legalization. While Oklahoma’s marijuana market has become incredibly oversaturated and Virginia has legalized both adult and medical use, other states are showing little to no movement at all.

The Heartland states are large and do not see as much demand for cannabis as other regions. So while they’re not necessarily against marijuana, they’re also in no rush to create their own burgeoning cannabis industries.

Here’s what you need to know about cannabis regulation in the central states, from the oversaturated marijuana market in Oklahoma to the future opportunities opening up in Virginia.

Kansas

Neither medical use nor adult use is legal in Kansas, and there is no sign of that changing in the near future.

There seems to be some demand for cannabis – especially in Kansas City – but so far the state doesn’t seem interested in capitalizing on that demand.

Missouri

Missouri is legalized for medical use only and does not currently have a competitive application. the only two license types available are transportation and seed for sale, but the state has done a good job of communicating medical marijuana regulations and requirements.

If demand increases, Missouri could potentially reevaluate and later open manufacturing, dispensary, or cultivation licenses. If you are interested in establishing a cannabis business in Missouri, keep an eye out for future developments.

Oklahoma

Although Oklahoma’s marijuana program is medical-only, the market is so saturated and in demand that it might as well be legal for adult use. And without official eligibility requirements, it’s very easy to get a medical card – in fact, about 10% of the population owns one.

Oklahoma also offers tons of grow and dispensary licenses and has no license cap. If you plan to enter the Marijuana market in Oklahomayour best bet will be in crafting, as that area isn’t as saturated.

Despite the oversaturation, the Oklahoma marijuana market still offers plenty of opportunity. Due to the low barrier to entry, many Oklahoma marijuana businesses are poorly built and executed, and the market will knock them out in time. The old underperforming business will disappear and make way for new ones.

Higher Yield Consulting Heartland States: Marijuana Opportunities in Virginia and Oklahoma

If you can get it right – market your brand well, have good policies and procedures in place, properly train staff, and commit to top quality – your cannabusiness can succeed in Oklahoma.

Tennessee

Although neither medical nor adult use of marijuana is legal in Tennessee, the state has made progress. Earlier this year, Tennessee tracked alabama suit and passed a bill to create a study committee to consider medical marijuana and expand current state CBD laws.

While the state probably isn’t moving fast for medical cannabis, it is moving in the right direction.

Virginia

Virginia legalized marijuana for medical and adult use. Applications will be competitive, but so far no rules have been established and applications will not begin to be accepted until 2023. Thereafter, stores will not begin to open until 2024.

As the Virginia Cannabis Control Authority sets up and regulates the industry, it will also set the number of licenses, which cannot exceed 400 retailers, 25 wholesalers, 450 growers and 60 product manufacturers. That said, it’s possible (but unlikely) that the board decides to go well below those numbers.

Cultivation licenses will be divided into two types: Class A licenses will be capped at a certain number of square feet or plants. Class B licenses, on the other hand, will be limited to 1% THC – essentially a CBD producer license.

If you’re interested in Virginia’s marijuana programs, be sure to keep an eye out for their changing rules and regulations in 2022 so you’re prepared to meet the requirements.

Learn more about marijuana opportunities in Virginia and Oklahoma

The potential for cannabis businesses in the central states is promising but not concrete. Oklahoma’s marijuana market might be a good place to start, but only if you really know what you’re doing and can beat the competition. Virginia is also very promising, depending on how their rules and regulations evolve.

Keep in mind that due to smaller populations and scattered rural areas, you won’t see as many benefits as in other parts of the country. But there are a few opportunities that might be worth investigating to start with, especially in the area of ​​medical cannabis.

If you want to learn more about the Virginia and Oklahoma marijuana markets or open a cannabis business in the heart of the country, schedule a consultation with us to discuss your options.



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