Psychedelics are much more closely tied to the history of human civilization than most people realize. From indigenous medicinal traditions to henbane tea allegedly used by Viking berserkers, they have played an important cultural role in countless societies. Unfortunately, that changed in the late 1930s.
It was then that Albert Hoffman invented a new psychedelic drug known as LSD – an event that sparked an aggressive fear-based campaign that resulted in the illegality of psychedelics.
Fast forward to today, and a growing body of research indicates that not only are the harmful effects of psychedelics greatly exaggerated, but they also have significant potential benefits in the treatment of several mental health conditions. This, in turn, has resulted in their decriminalization – and in some cases legalization – by several states.
This slow march towards widespread acceptance gives the psychedelics sector great investment potential, but only for those who fully understand the industry’s unique landscape and challenges.
Legalization vs. decriminalization
Before discussing the specifics of American psychedelic landscapes, it is important that we first establish the difference between decriminalization and legalization. Although the two may seem similar at first glance, they are actually very different concepts. This may interest you : GPNMB confers Parkinson’s disease risk through interaction with α-synuclein. And both terms have great relevance in the context of psychedelics.
Decriminalizing a drug means that there are no longer strict criminal penalties associated with its use. With government approval, certain companies can use the drug for pre-established use cases. However, the drug is still illegal in most settings, usually tied to a civil penalty such as a fine rather than criminal charges.
Many believe that decriminalization is the first step on the road to full legalization, and legalization is exactly what it sounds like. When a drug is legalized, it can be used and sold freely, but with certain requirements. Alcohol, for example, is legal, but only permitted for people over 21.
The legal status of psychedelics in the US
In the United States, psychedelic drugs still have a long way to go before they gain widespread acceptance. As of July 2022, they are still completely illegal in almost every state, with a few notable exceptions. At the federal level, meanwhile, all major psychedelic drugs beyond ketamine are classified as Schedule I by the United States Food and Drug Administration.
This means that they are considered to have no currently accepted medical use and a high potential for abuse. Read also : An Ohio health worker was fired for an abortion reported in the newspaper. This puts drugs like ibogaine and psilocybin in the same class as heroin and methamphetamines.
Rather promising, however, clinical trials to challenge this classification are underway. These studies are many and varied, and widely explore the potential of psychedelic drugs to treat post-traumatic stress disorder, depression and addiction.
As you might expect, this means that for the immediate future, legal and reputable options for psychedelic operations are severely limited.
What’s holding psychedelics back?
Outdated legislation aside, the biggest barrier to widespread adoption of psychedelics is societal. Drugs are still heavily stigmatized in many circles due to years of bad press and fearmongering. See the article : Data science can unlock the value of your legal information. Unfortunately, this stigma has even trickled down to scientific research, with many studies of the alleged harmful effects of drugs like MDMA being identified as methodologically flawed, overly biased, or intellectually dishonest.
There is a positive note here, however. Held back by outdated beliefs, many investors still don’t want to get involved in psychedelics. This means that for those who are ready to take the plunge, the market presents even more opportunities.
Society’s opinion of psychedelics is gradually changing. As more and more research emerges on their beneficial effects, the decades-old perception of their dangerousness is fading. That is to say, although the market is currently held back by social stigma, this will not be the case for much longer – by 2027, the psychedelic industry is expected to be worth around $6.85 billion.
Change is coming, and one state in particular is leading the charge.
Oregon, head and shoulders above its peers
In November 2020, Oregon became the first state to legalize and regulate psilocybin, approving it for use in supervised mental health treatment facilities. The legislation that made this possible, known as Measure 109, will officially go into effect in January 2023. Oregon also implemented a second bill, Measure 110, which classified drug possession as small scale as a civil offense with a $100 fine, waived if the individual agrees to seek treatment.
Since then, several other states have chosen to follow Oregon’s lead. Psychedelic use currently carries reduced sentences in Colorado, New Jersey and Washington, with several major cities specifically identifying drugs as the lowest priority for law enforcement. Utah and Texas, meanwhile, are both studying the drug for medical purposes. Finally, decriminalization bills have been filed for consideration in Iowa, Kansas, Oklahoma, Missouri, Michigan, Georgia, Florida, Maryland, Pennsylvania, New York, Vermont, Rhode Island, Hawaii and Massachusetts.
California was also exploring decriminalization and legalization, but the legislation was put on hold following the decision that more time was needed to build a reform case. Ohio, Virginia, West Virginia and Maine are all in the same boat.
Psychedelics investments in Oregon
Oregon’s position at the forefront of psychedelic adoption has created what some have called a psychedelic gold rush in the state, with many international entrepreneurs rushing to claim their right to it. which will certainly be a fast growing sector.
The Synthesis Institute, for example, has already formed several LLCs and purchased property in the state in preparation for the upcoming change. Billing itself as a world leader in modern psychedelic research, education and training, the company has to date hosted psychedelic retreats for over 750 people.
Red Light Holland (CSE:TRIP), meanwhile, believes psilocybin has the potential to become a billion-dollar industry in Oregon alone. Based in the Netherlands, Red Light Holland manufactures branded micro-dosed truffles. It also maintains several wholesale and production subsidiaries.
Field Trip Health (TSX: FTHW) is also eyeing the state, with plans to open at least one treatment center there. Currently valued at around C$46 million, the Canadian company operates around a dozen ketamine-assisted therapy centers in Canada and the United States.
However, foreign investors aren’t the only ones drawn to Oregon’s booming new market. Companies such as Silo Wellness (CSE:SILO) are also well positioned to seize the opportunity presented by this new legislation. Founded in 2018, Silo Wellness runs all-inclusive luxury psychedelic retreats in Jamaica and plans to offer similar services in Oregon as soon as it becomes legal to do so.
The main advantage of investing in a company like Silo as opposed to a foreign company is that the company already has boots on the ground in Oregon – an established presence that will allow it to grow much faster than foreign competition. .
Takeaway
More and more companies are now beginning to recognize the very real potential of drugs like MDMA and psilocybin, both clinically and therapeutically. Where there is treatment potential, there is investment potential. If there is anything to be learned from cannabis, the legalization of psilocybin has the potential to become a crowded industry in the near future.
This INNSpred article is sponsored by Silo Wellness (CSE:SILO). This INNSpired article provides information sourced from the Investing News Network (INN) and approved by Silo Wellness to help investors learn more about the company. Silo Wellness is an INN client. Company campaign fees allow INN to create and update this INNspired article.
This INNSpred article was written to INN editorial standards to educate investors.
INN does not provide investment advice and the information in this profile should not be considered a recommendation to buy or sell any securities. INN does not endorse or recommend the activities, products, services or securities of any company featured.
The information contained herein is for informational purposes only and should not be construed as an offer or solicitation to sell or buy any securities. Readers should do their own research for all publicly available information regarding the company. Before making any investment decision, readers are recommended to consult Silo Wellness directly and seek advice from a qualified investment adviser.
Researchers believe that hallucinogens alter users’ perceptions by acting on neural circuits in the brain, particularly in the prefrontal cortex, a region of the brain involved in perception, mood and cognition.
Is Molly legal in California?
Possession and sale of ecstasy is still illegal as there is no accepted medical use for this drug. Anyone found in possession of ecstasy in Santa Clarita will likely be charged with violating California Health & Security code 11377.
What drug is legal in California? Prescription drugs are legal in California as long as you have a valid, legal prescription. Marijuana is also legal in the state. In November 2016, California voters passed Prop 64, which decriminalizes the recreational use of marijuana.
What is the sentence for drug possession in California?
Consequences of a conviction for possession of a controlled substance. Under Proposition 47, possession of any scheduled drug is a misdemeanor, punishable by up to one year in prison. However, not everyone is eligible for these misdemeanor charges.
How much coke is a felony in California?
Possession or purchase of up to one kilogram of cocaine base or crack cocaine with intent to sell is a felony punishable by three, four or five years in prison and a maximum fine of $20,000 for each offense . [Cal.
Is Molly legal in Vegas?
Nevada law prohibits the possession of MDMA (ecstasy) – as well as the consumption, possession, sale, transportation, trafficking, or manufacture of the drug. The penalties depend on which of these offenses the accused is charged with.
What happens if you get caught with drugs in Vegas? A charge of simple possession that includes Schedule I, II, III, or IV by the FDA is punishable by: 1 to 4 years in state prison for the first and second offense. For the third offense and more, 1 to 4 years in prison and up to 20,000 fine. If you possessed GHB, you could serve up to 1-6 years in prison.
Is Molly legal in Nevada?
Nevada law makes it illegal to possess MDMA (ecstasy) – as well as to use, influence, sell, transport, traffic, or manufacture the drug. The penalties depend on which of these offenses the accused is charged with.
What drugs are legal in Vegas?
Marijuana is arguably the only legal drug you can use in Las Vegas. Depending on how much marijuana you have, your age, and where you are when you use it, it is perfectly legal to use marijuana in Nevada.
Is crack legal in Vegas?
Crack is a solid form of cocaine that can be smoked using a pipe. Crack is generally much cheaper than powder cocaine because it is usually cut with other chemicals. Cocaine in any form is illegal in Nevada. Possession of cocaine of any kind will be considered a crime, regardless of how much you have.
When did psychedelic research restart?
Since the early 1990s there has been a steady revival of research into human psychedelics: last year reports were published of the first modern brain imaging study with LSD and three separate clinical trials on psilocybin for depressive symptoms.
Why are psychedelics popular in the 1960s gaining new interest today? In recent years, researchers have produced groundbreaking studies on the promise of psychedelics to relieve emotional pain in people near death, followed by a growing body of work suggesting that the substances can help with depression, post-traumatic stress disorder, addiction and anxiety.
When was psychedelic research stopped?
Clinical research became more difficult after 1965 when Sandoz stopped supplying psychedelic drugs for research and their non-medical use was banned in 1970. The end of psychedelic drug research was not just due to the ” War on Drugs”.
When did research on psychedelics begin?
Modern psychedelic research began when Albert Hofmann first synthesized lysergic acid diethylamide (LSD-25) in 1938. Five years later, he became the first person to ingest LSD. Hofmann was unaware of the significance of his actions and the effects they would trigger.
