Oklahoma Voters to Decide on Adult-Use Cannabis Legalization in Special Election

Oklahoma Cannabis Laws

Oklahoma Governor Kevin Stitt Not A Fan Of Legalization But Leaves It To Voters

Oklahoma Governor Kevin Stitt does not support the legalization of adult-use cannabis in his state or any other state, preferring instead to leave the question to the federal government. However, he has authorized a special election for the voters of his state to decide the matter of adult-use legalization on March 7, after the Oklahoma Supreme Court pulled the question from the November ballot. If State Question 820 passes, Oklahoma will become the 22nd state in the US to legalize cannabis for adults 21 and older.

Stitt may not be thrilled by the prospect, but the impending vote reminds the broader political community that the emerging cannabis industry has been set in motion by the will of the people. While the Governor believes that the federal government should make the decision about marijuana legalization, the fate of Oklahoma's potential $2 billion adult-use cannabis market is now in the hands of voters.

According to an economic impact and tax analysis by Vicente Sederberg LLP and the Oklahoma Cannabis Industry Association, from 2024 to 2028, Oklahoma could gain $821 million in combined medical and recreational taxes if State Question 820 passes. The adult-use market alone could generate $434 million in revenue. The measure before voters would lay a 15% state excise tax on adult-use cannabis, along with standard state sales tax and the possibility of various local taxes.

In 2018, Oklahoma voters approved the state's medical cannabis question by a 57-43 margin. For the March 7 special election, State Question 820 is the only issue that voters will see on their ballots. It remains to be seen whether Oklahoma will join the growing list of states legalizing adult-use cannabis.

Original Article Published at
After Setting Special Election on Cannabis Legalization, Oklahoma Governor Confirms He Opposes the Measure | Cannabis Business Times

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