Magic Mushroom Advocates Seek to Emulate the Rise of CBD

Data indicates that psychedelics are gaining popularity. For example, in 2019, the Global Drug Survey collaborated with psychedelic researchers to examine the acceptability of psychedelic products and other drugs such as MDMA (ecstasy) and ketamine in the field of psychiatry. “We found high rates of acceptance especially among those with prior experience of using them, although fears based on myths and outdated science, were evident among psychedelic-naïve respondents,” the survey conclusion shows. Just earlier last year the U.S. Food and Drug Administration (FDA) approved Spravato (esketamine) nasal spray, in conjunction with an oral antidepressant, for the treatment of depression in adults who have tried other antidepressant medicines but have not benefited from them (treatment-resistant depression). Now as states begin to mull the question of psilocybin’s legality, this new field of potential medicinal substances may follow a comparable pathway to legalization with the cannabis medical market. Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB), Liberty Health Sciences Inc. (OTC: LHSIF) (CSE: LHS), Auxly Cannabis Group Inc. (OTC: CBWTF) (TSX-V: XLY), 22nd Century Group, Inc. (NYSE: XXII), MedMen Enterprises Inc. (OTC: MMNFF) 

The growing awareness of cannabidiol, or CBD’s, health benefits has pushed the market into mainstream retail. And yet, despite its growth of recent years, it is important to remember that cannabis products are still illegal in the U.S on the federal level. This regulatory hurdle is one of the last remaining obstacles that has been holding the industry back to a certain degree. “There is plenty of room for growth here,” believes Confident Cannabis VP of Growth & Marketing Brad Bogus according to a report by Civilized. “CBD is sort of stuck in between prohibition era policies and federal acceptance. We just saw the first cannabis derived FDA approved medication make its way onto the market, which is a CBD medication. Where it goes from here in the world of Big Pharma is hard to say, but the direction will be up, in some velocity. Seniors are more keen to try a CBD product over a THC product, so even on the regular non-pharmaceutical market, CBD will still snag a good portion of untapped market share. International trade of source material is another big advantage of the CBD market, to help it grow.”