'California Activists Plan To File New Psychedelics Legalization Ballot Initiative This Week' - Marijuana Moment
Portfolio Pulse from Benzinga Newsdesk
Activists in California are planning to submit a proposed ballot measure this week that would legalize the use, production, and sales of most psychedelics. The proposal, called the Psychedelic Wellness and Healing Initiative of 2024, would allow people to grow psychedelic plants and fungi at home for personal use. The initiative aims to provide a path for safe, legal access to psychedelics for medical treatment, therapy, or spiritual use. The proposal would also allow businesses to cultivate, manufacture, and distribute psychedelics as a wholesaler as of January 1, 2025, and sell psychedelics from April 19, 2025.
October 26, 2023 | 1:08 pm
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The proposed legalization of psychedelics in California could potentially increase the market for CMPS's products.
If the proposal is passed, it could lead to an increase in the demand for psychedelics, which would benefit companies like CMPS that are involved in the production and distribution of these substances.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
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The proposed legalization of psychedelics in California could potentially increase the market for CYBN's products.
If the proposal is passed, it could lead to an increase in the demand for psychedelics, which would benefit companies like CYBN that are involved in the production and distribution of these substances.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The proposed legalization of psychedelics in California could potentially increase the market for DRUG's products.
If the proposal is passed, it could lead to an increase in the demand for psychedelics, which would benefit companies like DRUG that are involved in the production and distribution of these substances.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The proposed legalization of psychedelics in California could potentially increase the market for ENVB's products.
If the proposal is passed, it could lead to an increase in the demand for psychedelics, which would benefit companies like ENVB that are involved in the production and distribution of these substances.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The proposed legalization of psychedelics in California could potentially increase the market for MNMD's products.
If the proposal is passed, it could lead to an increase in the demand for psychedelics, which would benefit companies like MNMD that are involved in the production and distribution of these substances.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The proposed legalization of psychedelics in California could potentially increase the market for SEEL's products.
If the proposal is passed, it could lead to an increase in the demand for psychedelics, which would benefit companies like SEEL that are involved in the production and distribution of these substances.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70