There’s a continuous tug of war between the U.S. and Canadian dollars in the global exchange market. A similar rivalry can be seen in the magic mushroom industry. Online psychedelic mushroom dispensaries are rapidly emerging in Vancouver and other Canadian cities, but can they match the fast-paced growth of the psychedelic industry in America? Let’s delve into this.
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Highlights:
- Oregon was the first state to legalize therapeutic use, with licensed professionals permitted to administer it.
- In 2020, Canada’s Health Minister allowed four terminally ill cancer patients to use magic mushrooms in palliative care.
- Clairvoyant, a 24-week Phase 2 trial at the University of British Columbia, is examining psilocybin-assisted therapy for adults diagnosed with alcohol abuse disorder.
Rapid Growth of the Magic Mushroom Industry in the United States.
The U.S. has witnessed a rapid growth of the magic mushroom industry, rivaling only cannabis. This swift progression signifies an increasing societal acceptance of its potential therapeutic benefits.
Emphasis on Mental Health
Medical professionals are captivated by its potential to mitigate symptoms of mental health issues, including depression, anxiety, and PTSD. Encouraging study outcomes have led private pharmaceutical companies to explore its medicinal benefits.
This trend has not only sparked interest in healthcare applications but has also significantly boosted the economy. Startups and research initiatives are focusing on the advancement of psilocybin.
Clinical evidence supporting the use of magic mushrooms in treating specific diseases is growing. NIDA Director Nora Volkow emphasized the burgeoning evidence that psychedelics have a “significant potential” for medical treatments.
Legal Milestones
- Oregon Measure 109: In 2020, Oregon became the first state to legalize psilocybin for therapeutic use, paving the way for approved practitioners to administer it. licensed professionals to administer regulated doses. This landmark action set a benchmark for other states to follow.
