Oklahoma medical marijuana companies are on the verge of facing new regulations that will increase compliance costs.
Expanded costs are expected in a wide range of operations, including:
- Seed-to-sale tracking and package labeling.
- Product testing.
- Waste management.
The regulations require MMJ businesses to have installed inventory tracking systems by late August and devote more resources in general to compliance.
How businesses handle the changes could in part determine which ones survive an expected market shakeout, experts said.
“From the get-go, we were the Wild, Wild West,” Oklahoma cannabis attorney Sarah Lee Parrish said. “I think we still are, but now we’re becoming a little less wild – maybe the Wild West.”
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