Psilocybin Mushrooms For Sale: Is It Legal Anywhere In America?
Portfolio Pulse from Lara Goldstein
Psilocybin, a substance found in certain mushrooms, is currently a Schedule I substance under the U.S. Controlled Substances Act, indicating a high potential for abuse and no accepted medical use. Despite this, scientific evidence is growing in support of its benefits for treating various health conditions, leading to clinical trials by companies like COMPASS Pathways (NASDAQ:CMPS). The psychedelic drugs market is predicted to reach $6.4 billion by 2034. Oregon and Colorado have decriminalized the use, possession, and gifting of psilocybin mushrooms, with both states also legalizing medical provision. Other states and localities have passed decriminalization measures, but commercialization remains largely prohibited, except through specific exemptions like religious use.

February 02, 2024 | 2:49 pm
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COMPASS Pathways is conducting clinical trials on psilocybin for treating various health conditions, amidst a growing body of scientific evidence supporting its benefits. The psychedelic drugs market, with psilocybin as a key player, is forecasted to reach $6.4 billion by 2034.
COMPASS Pathways' involvement in psilocybin clinical trials and the growing acceptance and decriminalization of psilocybin in certain states suggest a positive outlook for the company. The predicted growth of the psychedelic drugs market further supports potential upside for CMPS, although the current legal status of psilocybin as a Schedule I substance presents a significant hurdle.
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