While less of a focus on capital markets, Canada and the state of California have introduced bills to dramatically shift the legal framework around psychedelics.
The Trudeau government put forth a new law that, if passed, would focus on treating drug users through community programs rather than prosecution and incarceration. While not complete decriminalization, the bill removes all mandatory minimum sentences found in the Controlled Drugs and Substances Act, giving courts much more leeway when sentencing drug trafficking and possession charges.
Meanwhile, south of the border, California State Senator Scott Wiener proposed a bill that would decriminalize MDMA, LSD, DMT, psilocybin, psilocin, ibogaine, and mescaline. If passed, Senate Bill 519 would also establish a commission for recommendations on legal psychedelic frameworks.
These proposed bills could have significant impacts on both domestic and global criminal justice reform, continuing the positive trend of cities like Oregon and Massachusetts who are already starting to transform the conversation around psychedelics.
Here’s a summary of this week’s news:
- Tryp Therapeutics Completes $2 Million Strategic Financing
- Awakn Chief Medical Officer, Dr. Ben Sessa, Announces Results of the World’s First ‘MDMA in Alcohol Use Disorder’ Clinical Trial
- Mindset Pharma Added to North American Psychedelics Index
- Revive Therapeutics Acquires Unique Psilocybin Assets
- Numinus announces milestones in compassionate access trial for MDMA-assisted therapy in collaboration with MAPS Public Benefit Corporation
- Algernon Pharmaceuticals Awards DMT Manufacturing Contract to Dalton Pharma for Stroke Program
- MindMed Reaches Agreement to Acquire HealthMode, a Leading Machine Learning Digital Medicine Company
Want to see the full list of weekly closes?
Subscribe to the Market Insights Report
Each Wednesday and Saturday, we’ll send you a review of the latest weekly price movements, due diligence reports, and original insights on the emerging landscape of the psychedelic industry.
The post Markets for Feb 20: $COOL +15.89%, $EHVVF -12.36%, $SILO +11.11% appeared first on Microdose Psychedelic Insights.