Oklahoma is having a great response to their Medical Marijuana Launch. Back in June, a general voting was organized in Oklahoma to get an idea whether Marijuana in the medical industry will get legalized or not. People came up and cast their votes in support of medical marijuana launch in the state.
According to the reports by experts, the medical cannabis market shows high potential in case of capital formation. Investors from all over the United States are keen to enter into this highly potential market, worth of more than $100 Million. Nearly 800 companies have already submitted their business application. More than $1.5 Million has been received by the state as part of application fees on Saturday.
Oklahoma Online System was live Saturday and recorded the number of companies that are coming in for the Medical Marijuana Business. There were 800 companies among which 389 growers, 288 Dispensaries, and 118 processors/extractors had submitted their application.
Since few parts of US have made Medical Cannabis Business legal, investors and private companies are highly interested in trading Medical Cannabis for sound capital formation. Despite having a lack of marijuana banking solutions in the US, there are private merchants that provide merchant accounts for marijuana dispensaries and traders.
This past June when Oklahoma residents cast their votes in support of Medical Cannabis market, many merchant service providers come forward to help the traders for their swift business. Some of them are offering debit and credit cards for their accounts as well. While talking about merchant services, now debit processing solutions for Cannabis Business are also available for the traders in some parts of the United States.
Oklahoma state has closed the application submission as of 26th July 2018. The state will start accepting applications, submitted by companies, effective 26th August 2018. The state makes sure not to delay the process any further. On the other, Federal Law is still not keen on making Medical Marijuana a legal affair. Despite this, some states have gone against this decision and have made enormous strides with the revenue generated by the medical industry to better their communities.