Hawaii may soon be more than just Paradise. It may also be a psychedelic therapy hub. A new state measure aims to legalize psilocybin, the hallucinogenic compound in certain mushrooms. The new bill was introduced by democratic Senators Stanley Chang, Laura Clint Acasio, Les Ihara Jr., and Maile Shimabukuro. If approved, Hawaii’s Department of Health would establish “designated treatment centers for the therapeutic administration of psilocybin and psilocyn.” The legislation would also remove the substances from the state’s list of Schedule 1 controlled substances. The proposed measure comes less than a year after the Aloha State saw legislation introduced to approve the study of psychedelic mushrooms. There are currently dozens of studies underway across the globe looking at psilocybin as a viable treatment option for a range of mental health issues. In particular, psilocybin is showing potential in treating patients diagnosed with treatment-resistant depression. If passed, the measure would also see the creation of a seven-person review panel aimed at assessing the policy change. The move comes on the heels of similar announcements by California and Florida legislators. Last November, voters in the nation’s capital and in Oregon decriminalized psychedelics. Oregon also became the first state to legalize psilocybin therapy. It now will develop standards for certifying therapists and treatment. Read more at: https://psychedelicspotlight.com/hawa… **Get the latest industry news around all things psychedelics by visiting our website and be sure to subscribe to our newsletter to never miss a thing.
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While researching a possible investment into psychedelic stocks, you have almost certainly heard the refrain of, “It’s a long-term investment.” I myself, in my many videos for The Psychedelic Investor and articles for PsychedelicSpotlight.com, have probably said this over 100 times.
And while the thesis for investing in psychedelic stocks is appealing, having a timeline clearer than “it’s a long term investment” is necessary before deciding whether it is worth the risk.
In this video, therefore, I endeavor to answer a big question: “When will psychedelic stocks provide a significant return on investment?”
Or, translated to Reddit-speak: when moon?
To start, I feel it’s necessary to give the warning that the answer may be never. To be clear, while I personally believe in the potential for psychedelic stocks such as MindMed (Nasdaq: MNMD, NEO: MMED) and Cybin (NYSE: CYBN, NEO: CYBN), the entire psychedelic medicines industry is inherently speculative and there is no guarantee of success. Yes, the science right now suggests that treatments such as MDMA therapy for PTSD and Ketamine therapy for addiction will disrupt the mental healthcare market, but this needs to be confirmed in larger studies.
There will be two separate turning points for psychedelic medicines and the companies that produce them: the legalization of the first psychedelic medicines, and the legalization of improved next-generation psychedelics.
The first will happen relatively soon.
#PsychedelicStocks #MindMed #Cybin
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