MMAValor.com is reporting that The Oklahoma State Athletic Commission has suspended all "combat sports," including MMA, boxing and professional wrestling effective as of 3/31/12. The report notes:
The report goes on to note that although the OSAC is claiming that the reason for the suspension is due to lack of funding, the more specific reason is that a pending UFC lawsuit is threatening the funds the commission currently has. You can read more, including the letter of suspension by the OSAC, by clicking on the above link.
It should be noted that WWE has an event scheduled to take place in Oklahoma on October 1st, however there has been no word as of this writing as to whether or not it has been canceled.