The U.S. and Canadian dollars are often in stiff competition in the global exchange market. The same competitive spirit is found in the magic mushroom industry. The growth of online psychedelic mushroom dispensaries in Vancouver and other cities is noticeable. However, the question is whether they can match the rapid progression of America’s psychedelic industry. Let’s delve deeper into this.
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Main Takeaways:
- Oregon became the first state to legalize the therapeutic use of magic mushrooms, under the supervision of licensed practitioners.
- In 2020, the Canadian Health Minister approved the use of magic mushrooms for palliative care in four terminally ill cancer patients.
- The University of British Columbia is conducting a 24-week Phase 2 trial named Clairvoyant, which examines psilocybin-assisted therapy for adults diagnosed with alcohol abuse disorder.
Rapid Growth of the Magic Mushroom Industry in the U.S.
The magic mushroom industry in the U.S. has expanded rapidly, positioning it as the only drug that competes with cannabis. This fast-paced growth signifies an increasing societal recognition of the substance’s potential therapeutic uses.
Mental Health Spotlight
Medical professionals are increasingly interested in its potential to ease symptoms of mental health disorders, including depression, anxiety, and PTSD. Encouraging study results have led private pharmaceutical companies to explore its medicinal benefits.
This interest has not only promoted healthcare applications but also significantly boosted the economy. Startups and research projects are focusing on the development of psilocybin.
There is a growing body of clinical evidence that supports the use of magic mushrooms in treating certain diseases. NIDA Director Nora Volkow underscored the mounting evidence that psychedelics have “considerable potential” for medical treatments.
Legal Milestones
- Oregon Measure 109: In 2020, Oregon set a precedent by becoming the first state to legalize psilocybin for therapeutic use, permitting professionals to manage controlled dosage. This pivotal move has set a trend that other states are starting to follow.
