Oklahoma Recreational Weed Bill Fails: This Week in Cannabis Investing

Oklahomans voted against a recreational weed bill that would have legalized adult-use cannabis in the Sooner State.

marijuana leaf
(Image credit: Getty Images)

An Oklahoma recreational weed bill failed to pass in the Sooner State this week, as Republican lawmakers in Oklahoma continue spreading Drug War-era rhetoric. 

Since 2018, when Oklahoma voted in the legalization of medical cannabis, the state has amassed over 2,800 dispensaries, and roughly 10% of the state's adult population currently holds a medical license for cannabis. Unfortunately, unlike neighboring state Missouri, an Oklahoma recreational weed bill could not garner enough support to pass. State Question 820 was handily defeated, leaving Oklahoma residents with a very concerning illicit market and a fledgling medical market. 

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Morgan Paxhia
Contributing Writer

Morgan Paxhia is Managing Director and Co-Founder of Poseidon Investment Management. With over 10 years experience in investing and finance, Morgan has developed a deep understanding of individual company analysis, portfolio construction, and risk mitigation. This content is not intended to provide any investment, financial, legal, regulatory, accounting, tax or similar advice, and nothing should be construed as a recommendation by Poseidon Investment Management, LLC, its affiliates, or any third party, to acquire or dispose of any investment or security, or to engage in any investment strategy or transaction. An investment in any strategy involves a high degree of risk and there is always the possibility of loss, including the loss of principal. This content should not be considered as an offer or solicitation to purchase or sell securities or other services. Any of the securities identified and described herein are for illustrative purposes only.  Their selection was based upon nonperformance-based objective criteria. The content presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. Past performance is not indicative of future results.