Policy
The U.S. House of Representatives passed a bill to federally legalize cannabis for the second time in history, following a similar bill that was approved in 2020 but which stalled in the Senate. The Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act would end cannabis prohibition and promote social equity in the industry. The bill’s next stop is the Senate, where its future is uncertain.
Industry
While it was once a hopeful area for investing, psychedelic stocks are having a really bad trip right now. With multiple psychedelic stocks having lost their value since peaking last year, investors are becoming more wary about dumping their money into psychedelic companies.
The psychedelic industry’s first major merger is about to go down. Numinus Wellness announced this month that it will acquire Novamind Inc. This consolidation of two businesses may be the first, but it’s unlikely to be the last as this emerging industry continues to evolve.
Research
There was more trouble in the psychedelic research realm following last month’s release of some disturbing footage of therapists spooning and pinning down a patient during an official MAPS MDMA trial for the treatment of PTSD in Canada. Health Canada has now announced it will review all trials involving MDMA to analyze patient safety and verify that researchers complied with regulations. Meanwhile, in a separate instance a psychedelic therapist was reported to have allegedly taken millions of dollars from an elderly Holocaust survivor. It should go without saying that this misconduct in the psychedelic research and therapy spaces needs to be acknowledged and addressed to ensure this type of behavior doesn’t continue in the future.
However, not all this month’s psychedelic research updates are bad news. A small study found that psilocybin is capable of spurring brain activity in depressed patients and a separate study found that people who use magic mushrooms are less likely to develop an opioid use disorder.
Harm Reduction
While it’s not a story directly about harm reduction, it’s worth mentioning a tragedy that occurred in Florida when a bride and her caterer were arrested after allegedly spiking a wedding reception dinner with cannabis without letting their guests know about it. Several attendees felt ill and were escorted to the hospital, and the police were called on scene to establish order and assist with the situation. It should go without saying that dosing others with psychoactive drugs without their knowledge is inappropriate, unacceptable, and potentially even dangerous. It may sound like no big deal if you are used to using a particular drug, but it’s not a wise thing to do.
Miscellaneous
U.S. President Joe Biden has been in office for more than a year now, and he finally got around to commuting the sentences of 75 people with non-violent federal drug convictions. It’s a small step in the right direction, albeit a bit disappointing considering that he had the opportunity to do much more, but at least it’s a good start.
Wrapping up this month’s recap, researchers found evidence that children who were sacrificed during Peruvian rituals hundreds of years ago were under the influence of ayahuasca and coca, possibly even during the rituals themselves.
That’s all for this month’s update. Remember to always test and weigh your drugs and until next time—keep thinking wilder.
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