The global exchange market regularly sees the U.S. and Canadian dollars competing for dominance. This same spirit of competition is apparent in the magic mushroom industry. The online mushroom dispensaries in Vancouver and other cities are mushrooming. But, can they match the quick progression of America’s psychedelic industry? Let’s delve into this.
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Highlights:
- Oregon pioneered the legalization of therapeutic use, with authorized practitioners administering it.
- In 2020, Canada’s Health Minister allowed four terminally ill cancer patients to use magic mushrooms for palliative care.
- Clairvoyant is a 24-week Phase 2 trial at the University of British Columbia examining psilocybin-assisted therapy for adults diagnosed with alcohol abuse disorder.
The Rapid Growth of the U.S. Magic Mushroom Industry.
The magic mushroom industry in the U.S. has expanded rapidly, making it the only drug that competes with cannabis. This quick growth signifies an increasing societal acceptance of the potential therapeutic uses of the substance.
A Focus on Mental Health
Medical professionals are captivated by its potential to assuage symptoms of mental health conditions, from depression and anxiety to PTSD. Positive outcomes from studies have encouraged private pharmaceutical companies to examine its medicinal uses.
This trend has not only sparked interest in healthcare applications but has also provided a significant boost to the economy. Startups and research initiatives are concentrating on the development of psilocybin.
Clinical proof supporting the use of magic mushrooms in treating specific diseases is growing. NIDA Director Nora Volkow emphasized the emerging evidence that psychedelics have “considerable potential” for medical treatments.
Legal Milestones
- Oregon Measure 109: In 2020, Oregon set a precedent by being the first state to legalize psilocybin for therapeutic use, thereby allowing to administer regulated quantities. This pivotal decision established a model for other states to emulate.
