The booming psilocybin industry can make billions of dollars. Many states and investors across the country are watching how Oregon can tap into this new frontier.
In 2020, Measure 109 was passed, allowing psilocybin – the magic in magic mushrooms – for therapeutic or personal development without the need for a doctor or prescription. Its sister, Measure 110, legalized the drug at the state level. Right now, the Psilocybin Advisory Committee has been busy developing recommendations for Oregon Psilocybin Services within the Oregon Health Authority (OHA) to develop regulations by January 2, 2023, when the first licenses will be accepted Application.
next big thing
“People recognize that psychedelics are the next big thing. The potential to make money from drugs is growing,” wrote Willamette Week (WW), quoting Jon Dennis, co-host Follow Oregon Podcast on the Psychedelics Today website. “People are interested in getting a piece of the pie. No one knows how big it will actually be, but I think everyone agrees it’s going to be very big.”
How big is it? WW reports that “market research by Dutch microdosing-focused truffle company Red Light Holland suggests psilocybin will be a $1 billion industry in Oregon alone.” Data Bridge Market Research estimates that by 2027 In 2010, the psychedelic drug market will reach the level of 7 billion US dollars.
One reason for the nationwide interest in how these regulations are shaping up is that they are not like cannabis rules where consumers buy products and participate elsewhere.
“The difference is that 90% of the experience is at an approved site [is] Led by a licensed facilitator who helps integrate insights gained during the trip,” says Corvallisite Brock Adhesiveowner of a high-quality cannabis dispensary and self-proclaimed megaphone for botanical medicine and the health aspects of cannabis and psilocybin.
This difference means that OHA will charge licensing fees for service providers, service centers participating in the magic, and product manufacturing. Big money goes to “set and set” – your mindset, intentions and places on your mushroom journey, and to create an approved mushroom: psilocybin cubensis.
From therapist offices to expanded ketamine clinics, to retreat centers and high-end destination resorts, the potential for different settings varies. You don’t have to be an Oregonian to take part in this experience, so investors believe psilocybin tourism will fund a luxury vacation in Oregon.
There are already resorts offering long-weekend or week-long psilocybin experiences in Canada, the Netherlands, the Netherlands, Jamaica and Costa Rica. A “trip” to these places can cost an average of $1,000 per day, and most have a minimum stay. For example, Mushroom Hill, which has branches in Jamaica and Costa Rica, sells for around $4,500 to $5,500. At MycoMeditations Retreat on a private beach in Jamaica, it can cost as much as $11,400.
Field Trip Health, a Canadian company that operates about a dozen ketamine-assisted treatment centers in Canada and the U.S., is looking to start a psilocybin retreat in Oregon.According to WW, citing Matt Emmer, vice president of the company’s healthcare business, envisioned by the Canadian company One “Best-in-class, well-designed, and curated clinical environments that allow people to use these modalities both safely and in a comfortable, inspiring, warm, inviting environment.” WW also writes that the cost can be as high as $2,000 to $3,500 per day – minus food, lodging or travel services provided elsewhere.
Of note, though, is the Institute for Synthesis in the Netherlands. One of the co-founders, Myles Katz, who moved here in 2020 to meet Oregon’s 51% legal requirement, set up a few local LLCs and spent June 2021 Purchased a historic 124-acre resort for $3.6 million. Ashland. The property has cabins, cottages, large public spaces, forest, grass and creek, and is just 30 miles from the nearest airport.
“I’m very much looking forward to people going to Oregon — not just for synthesis, but to all the hubs,” Katz told WW. “I don’t think there’s a huge appetite to really quantify it, because there’s no legal way to quantify it.” The cost of the retreat here hasn’t been determined, but a four-day retreat in the Netherlands costs about $6,500.
a little dramatic
Over the past few months, Tom Eckert, a longtime leader of the legalization movement for psilocybin, has resigned as chairman of the psilocybin advisory board before formally declaring any potential conflict of interest, raising concerns There was a commotion.
Eckert according to Statistical News, is in a romantic relationship with the CEO of Synthesis. In addition to having companies consult with advisory boards, both Synthesis and Eckert are offering coaches their own training programs.
If drugs don’t have to be administered or prescribed by a medical professional, who will be the facilitator that guides these experiences?
This can be a sensitive topic if someone taking magic mushrooms is for mental health and PTSD issues or for personal growth. It’s best to have someone who has experience with psilocybin and is fully equipped to guide patients through the important integration period, Binder said. Patients do better with people who understand the process and emotional processing.
Guidelines established by the Counselor Standards Advisory Committee require counselors to have at least a high school diploma, be at least 21 years old, have lived in Oregon for at least two years, complete an approved counselor training program, and pass the OHA Psilocybin Facilitator Exam. Psychedelic guides make about $60,000, according to Mindbloom, a New York-based company that offers ketamine experiences.
While there are training programs for psychedelic guide training around the world, they probably won’t help much with passing the Oregon exam. Eckert’s company, InnerTrek, charges $7,900 for its first cohort, which begins this summer and ends in early December.
Board member Steph Barss works among employees at Fluence, which provides “Continuing education and certificate program in “Psychedelic Integration and Psychedelic-Assisted Therapy” for mental health professionals. Specific psilocybin courses have not been listed, but prices for 12-week courses on other related topics are in the $7,500 range. Another board member, Angela Carter, also participates in a psychedelic training program called the Alma Institute.
In addition to its luxury service center, Synthesis Institute also has a training program in the Netherlands. The 18-month program costs $23,000.
Make Magic Mushrooms
with a counselor Training and Licensing Regulations Finalized by the state, the psilocybin advisory committee is working on the details of the manufacturing. These rules will cover how mushrooms are produced and tested.
Oregon is banning chemically synthesized psilocybin to allay concerns that Big Pharma will take out the ancient wisdom of taking out the mushroom by picking out the key ingredient and turning it into a magic pill. The drafted rules also identified the use of only one mushroom – psilocybin cubensis; this species has been extensively studied and has the ability to grow on demand.
The Pacific Northwest (PNW) is home to a variety of mushrooms and mushroom hunters. There are more than 200 species of mushrooms that contain psilocybin, and some advisory board members are concerned about limiting the rule to just one. However, since this was a new set of regulations, they agreed that it was simpler to start with the most popular and expand the allowed types as needed.
Psilocybin cubensis is native to tropical climates and is suitable for growing indoors. Mushroom hunters in Oregon may be more familiar with the wild versions of liberty caps or half spear mushrooms, which seem to prefer the unpredictable changes in our weather.
Rob Hendrickson, MD, professor of emergency medicine at the Oregon Health and Science University School of Medicine and medical director of the Oregon Poison Center, said the third most poisonous mushroom the center received was the fly agaric or fly agaric, which also contains hallucinogens. While the effects are severe and the results could put you in intensive care, Hendrickson gives this interesting anecdote, “You can pretty much judge a patient’s generation of mushrooms by their pop culture references to red and white head tops. -Alice in Wonderland mushrooms, Smurfs mushrooms or Mario Kart mushrooms.”
Binder, who has a partnership at family-owned Laughing Dog Farms, said that by starting with one mushroom, you can eliminate the branding differences in the cannabis industry with its different strains. He said his farm is considering applying for a manufacturing license in 2023, and the positive intent for growing hemp would benefit the mushrooms grown there.
Stocks to Watch
Psychedelic stocks are becoming the next wave of investor excitement.
As Stat News reported, “Pharmaceutical companies and several nonprofits are researching psychedelics — including the active ingredient in psychedelic mushrooms — psilocybin — as a treatment for mental illness, with the goal of getting those treatments approved by the U.S. Food and Drug Administration approval and supervision. While Oregon’s regulations could affect pharma’s plans, many other states are also considering legalizing them. As a “test case,” Oregon could help or hinder pharma’s use of this psychiatric drug a foothold in the potential billions of dollars.
recent US News The money article sums it up like this,”Like marijuana, psychedelics are becoming more mainstream, and investors are evaluating what could be a significant long-term growth opportunity. Market research firm Research and Markets recently estimated that the psychedelics market will reach $10.75 billion by 2027. Unfortunately, marijuana stock investors know that the nascent business faces many regulatory hurdles and has gone through multiple boom and bust cycles, so psychedelic investors must have a high risk tolerance. “
by Stacey Newman Weldon