In the global exchange market, the U.S. and Canadian dollars are perpetually in competition. A similar rivalry is apparent in the magic mushroom industry. The number of online psychedelic mushroom dispensaries in Vancouver and other cities is rapidly growing. However, the question remains whether they can match the rapid evolution of the psychedelic industry in America. Let’s delve into this further.
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Key Highlights:
- Oregon led the way by becoming the first state to legalize the therapeutic use of magic mushrooms, with certified professionals administering it.
- In 2020, Canada’s Health Minister authorized four terminal cancer patients to use magic mushrooms as part of their palliative care.
- Clairvoyant is a 24-week Phase 2 trial at the University of British Columbia that is examining psilocybin-assisted therapy for adults diagnosed with alcohol abuse disorder.
The Rapid Growth of the Magic Mushroom Industry in the United States.
The magic mushroom industry in the U.S. has witnessed rapid growth, making it the only drug that competes with cannabis. This accelerated growth signals an increasing acceptance of the potential therapeutic benefits of this substance in society.
Focus on Mental Health
Medical professionals are fascinated by its potential to alleviate symptoms of various mental health disorders, including depression, anxiety, and PTSD. Encouraging findings from studies have prompted private pharmaceutical companies to explore its medicinal uses.
Not only has this trend stirred interest in its medical potential, but it has also significantly boosted the economy. Startups and research initiatives are focusing on the development of psilocybin-based treatments.
There is a growing body of clinical evidence supporting the use of magic mushrooms in treating specific diseases. NIDA Director Nora Volkow emphasized the burgeoning evidence supporting the “substantial potential” of psychedelics for medical treatments.
Legislative Milestones
- Oregon Measure 109: In 2020, Oregon set a precedent by becoming the first state to legalize psilocybin for therapeutic use, allowing licensed professionals to administer controlled doses. This milestone decision has paved the way for other states to follow.
