Medical Marijuana Makes $1.5 Billion In Tax Revenue Since 2018

Tuesday, June 29th 2021, 5:02 pm

Since 2018, Oklahomans have spent more than $1.5 billion on medical marijuana.

That money will play a significant role in the state's future after a new law distributes the weed tax revenue differently.

Under the new law, about $37 million in tax revenue from medical marijuana will go to the Education Building Fund to pay for charter schools newly eligible for public money.

Another $12 million goes to the department of mental health.

The law also expanded the OMMA's budget to hire 100 more employees.

"We are especially hiring in the compliance area, making sure that every one of our licenses gets inspected this year," said Dr. Kelly Williams, OMMA director.

The revenue should not be too surprising.

Nearly 10% of Oklahomans have a medical card, the highest participation rate of any state.

More than 11,000 business licenses are active through the OMMA.


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