When Oklahoma legalized medical marijuana in 2018, few realized at the time that the traditionally conservative state would embrace the cannabis industry and over time become the biggest medical marijuana market in the country on a per capita basis. As Politico reports, a combination of factors—including few limits on marijuana licenses and scant restrictions on who can obtain a medical marijuana card—has led to what many now call a free-market marijuana utopia. More than 360,000 Oklahomans—nearly 10 percent of the state’s population—have medical marijuana cards, and to meet demand the state has 9,000 licensed marijuana businesses and 6,000 grow operations. What is happening in Oklahoma is indeed unprecedented—especially in a state that was once staunchly opposed to drug use—and could be seen as a model for other red states considering cannabis reform. Despite misgivings about legalization, two other strands of American culture—a live-and-let-live attitude and a preference for laissez-faire capitalism—have helped fuel the pot boom.
And finally, the booming market for products with CBD might not be booming for long, at least when it comes to food and beverage products containing the non-psychoactive component of marijuana. According to industry publication Food Business News, sales of such products plunged 75 percent this year, compared to 2019, when growth was up 115 percent. Are consumers getting wise to the bogus marketing claims that CBD is a cure-all for everything from anxiety to Alzheimer’s and even cancer and the corona virus? The sales decline is attributed to COVID-19, which has slowed impulse purchases at coffee shops and cafes. What’s more, retailers are hesitant to carry food and beverage products with CBD since the FDA has ruled that it cannot be used legally in food, beverages and dietary supplements. CBD is only approved for use in one drug for epilepsy, and there’s little scientific evidence suggesting it is effective for treating other health problems.