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How Do Make Money Money in Psychedelics?

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How do people make any money or revenue with psychedlics? Legally speaking, how is anyone starting a business with shrooms and LSD?  You may remember that Cannabis.net asked the same question at the Benzinga Psychedlics show in Miami this past year!

The answer then is the same as now, ketamine clinics set up around VA hospitals was the very first legal honey pot for the psychedelics industry.  Once veterans health insurance approved the payments, it was a race with VC funds to set up as many ketamine clinics as possible around large areas of veterans or bigger VA hospitals.

Now, the first ketamine-assisted psychotherapy clinic in Ottawa, Canada, has opened its doors, offering patients a fresh therapeutic avenue for managing treatment-resistant depression, anxiety, and addiction. The Canadian Centre for Psychedelic Healing, located on Sparks Street, extends access to oral ketamine administration alongside therapeutic support for individuals and their families to address mental health conditions.

 

According to Dr. Neel Chadha, the clinic’s medical director, ketamine possesses unique properties that make it particularly effective in healing and treating resistant mental health disorders. Dr. Chadha explained during an interview on Newstalk 580 CFRA’s CFRA Live with Andrew Pinsent that ketamine primarily influences a neurotransmitter known as glutamate, a chemical messenger in the brain, resulting in an overall mood improvement for individuals.

 

Chadha explains that ketamine can uniquely disconnect individuals from their sense of identity and ego, facilitating an altered state that fosters new perspectives on various aspects of life. Furthermore, it enables the adjustment of default thought patterns, precious in the context of mental health, where negative thought patterns often prevail. Lastly, ketamine enhances the brain’s capacity to establish new connections through processes known as neurogenesis and neuroplasticity.

 

According to Health Canada, ketamine is a swift-acting anesthetic employed in medical and veterinary settings. It is categorized as a dissociative drug, inducing a feeling of detachment between the mind and the body, effectively separating them. Its mechanism of action involves interrupting the brain’s reception of nerve signals related to pain and altering the perception of visual and auditory stimuli, as described on Health Canada’s website.

 

The clinic primarily focuses on individuals who have explored various medications and therapy modalities but have not achieved satisfactory relief from their symptoms. This includes individuals coping with mental health conditions or chronic pain disorders who have not experienced desired outcomes from conventional therapies. The clinic’s scope extends to first responders such as paramedics and police officers, as well as individuals like teachers who have been unable to work due to mental health issues.

 

Chadha emphasizes that this treatment represents a groundbreaking advancement for patients. He stated, “The data demonstrates that approximately 70% of patients commencing ketamine-assisted psychotherapy experience improvement. Internally, within our clinic, we’ve witnessed a remarkable 93% success rate,” as reported to CTV News Ottawa.

 

The clinic addresses various conditions, such as treatment-resistant depression, anxiety, PTSD, chronic pain, addiction, and eating disorders. In addition to these services, the privately-run Canadian Centre for Psychedelic Healing also provides low-dose ketamine treatments for pain management and psychotherapy.

 

In May, the Royal Ottawa introduced the BMO Innovative Clinic for Depression, designed to cater to individuals with challenging-to-treat depression. The Royal asserts that the clinic aims to leverage the potential of esketamine to transform treatment options for those living with difficult-to-treat depression. Esketamine is derived from ketamine and gained approval from Health Canada in 2020.

 

The Canadian Centre for Psychedelic Healing also operates additional locations in Thunder Bay and Sault Ste. Marie.

Not Peculiar to Canada

Presently, the United States is experiencing a notable upswing in the popularity of ketamine. This substance, recognized for its rapid-acting antidepressant characteristics and mildly psychedelic effects, continues to be used recreationally by individuals frequenting clubs and by students. However, over the past decade, thousands of patients have legally received therapy involving ketamine, and hundreds of ketamine clinics have emerged in major cities. Manhattan alone boasts 12 such clinics.

 

Nevertheless, this burgeoning industry is encountering challenges like the broader emerging psychedelic industry. One of the leading chains of startup clinics offering ketamine treatments has recently faced financial difficulties. Another is in a precarious situation, and others are grappling with uncertainty. The question arises: why are so many ketamine clinics facing struggles despite a growing demand?

 

The prevailing belief is that the industry expanded too rapidly. Multiple clinic groups competed to claim a portion of the projected $3 billion revenue the industry is set to generate between the current year and 2029. Yet, with millions of dollars infused by private equity, investors are increasingly impatient with specific clinics.

Closure of Ketamine Clinics in the US

Benjamin Ramm, the author of the upcoming book “High Definition: A Vision for our Psychedelic Future,” voiced his perspective on the situation by stating that the psychedelic bubble was hugely inflated. He highlighted the unsustainable rapid expansion plans of Field Trip Health, which aimed to establish 75 centers across the US by 2024. This expansion frenzy illustrates the limitations of startup enthusiasm as we transition from the peak of exaggerated expectations to the trough of disillusionment.

 

Another instance is Actify Neurotherapies, backed by private equity, which abruptly shuttered all twelve clinics in 2020, vanishing almost overnight. Analysts suggest that as many as seven out of ten psychedelic companies face significant challenges due to a banking crisis, resulting in a scarcity of capital. Some have even forewarned of an impending “bloodbath.”

 

The landscape is described by Lauren Taus, a ketamine-assisted psychotherapist with a private practice, as “a wild, wild west.” She notes that there has been a frantic rush to commercialize the field, led by entrepreneurs who saw a lucrative opportunity but often needed a complete understanding of the necessary elements for success.

 

Factors contributing to these closures include premature expansion, delays in health insurance coverage payments, and investors’ waning patience. Additionally, experts point to the rapid rise of telehealth startups, which can swiftly provide low-cost ketamine prescriptions to people’s homes without requiring an in-person assessment.

Conclusion

The turbulent developments in the unregulated ketamine industry could offer a cautionary lesson for proponents of the legalization of medicinal drugs like MDMA and psilocybin mushrooms, both expected to receive regulatory approval for medical use in the coming years. There is concern that the emergence of a profit-driven clinical culture, often called “corporadelic,” may undermine the aspirations for an era of psychedelic healing.

 

Steven Spielberg, a critic of the current state of the ketamine industry, remarks, “While ketamine proves highly effective for many patients, the ketamine industry itself falls short.” He predicts a continuous influx of ketamine clinics as opportunists seek quick gains. However, he also anticipates that when macroeconomic conditions shift, the industry will witness consolidation, ill-advised expansion, and eventual bankruptcies when the conditions revert.

 

MORE ON KETAMINE CLINICS AS A BUSINESS, READ ON…

PSYCHEDLICS CONFERENCES BENZINGA

BENZINGA PSYCHEDELICS SHOW? WHAT DID WE LEARN ABOUT MONEY?



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Latest Trump Weed Rumor – Trump Will Federally Deschedule and Decriminalize Cannabis, but Not Legalize It

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In a recent interview, former New Jersey Governor Chris Christie made headlines by asserting that President-elect Donald Trump will pursue significant reforms in federal policies regarding marijuana and cryptocurrency. As the nation grapples with evolving attitudes toward cannabis and the burgeoning digital currency market, Christie’s predictions have ignited discussions about the potential implications of such changes on both industries. This article delves into Christie’s insights, the current state of marijuana and cryptocurrency regulations, and the broader implications of these anticipated reforms.

 

The Current Landscape of Marijuana Legislation

 

Federal vs. State Laws

Marijuana remains classified as a Schedule I substance under the Controlled Substances Act (CSA), which places it in the same category as heroin and LSD. This classification has created a complex legal landscape where states have moved to legalize cannabis for medical and recreational use, while federal law continues to impose strict prohibitions. As of now, over 30 states have legalized marijuana in some form, leading to a burgeoning industry that generates billions in revenue.

 

Challenges Faced by the Cannabis Industry

 

Despite its legality in many states, the cannabis industry faces significant hurdles due to federal restrictions. These challenges include:

  • Banking Access: Many banks are hesitant to work with cannabis businesses due to fear of federal repercussions, forcing these businesses to operate largely in cash.

  • Taxation Issues: The IRS enforces Section 280E of the tax code, which prohibits businesses engaged in illegal activities from deducting normal business expenses, leading to disproportionately high tax burdens for cannabis companies.

  • Interstate Commerce: The lack of federal legalization prevents cannabis businesses from operating across state lines, limiting their growth potential.

 

Chris Christie’s Perspective on Marijuana Reform

 

Christie, a former presidential candidate known for his tough stance on drugs during his tenure as governor, has evolved his views on marijuana over the years. In his recent statements, he emphasized that Trump is likely to pursue descheduling cannabis, which would remove it from the Schedule I classification. This move would not only provide clarity for businesses operating in legal markets but also open avenues for banking and investment.

 

Christie highlighted that descheduling would allow for a more regulated market where safety standards could be established, thus protecting consumers. He believes that this approach aligns with a growing consensus among Americans who support legalization and recognize the potential benefits of cannabis use for both medical and recreational purposes.

 

The Future of Cryptocurrency Regulation = The Rise of Cryptocurrencies

 

Cryptocurrencies have surged in popularity over the past decade, with Bitcoin leading the charge as the first decentralized digital currency. The market has expanded to include thousands of alternative coins (altcoins), each with unique features and use cases. As cryptocurrencies gain traction among investors and consumers alike, regulatory scrutiny has intensified.

 

Current Regulatory Challenges

 

The cryptocurrency market faces several regulatory challenges that hinder its growth and adoption:

 

  • Lack of Clarity: Regulatory frameworks vary significantly across states and countries, creating confusion for investors and businesses.

  • Fraud and Scams: The rapid growth of cryptocurrencies has led to an increase in fraudulent schemes targeting unsuspecting investors.

  • Consumer Protection: Without clear regulations, consumers are often left vulnerable to risks associated with volatile markets.

 

Christie’s Vision for Crypto Regulation

 

Christie believes that under Trump’s leadership, there will be an effort to find a “sweet spot” for cryptocurrency regulation balancing innovation with consumer protection. He argues that overly stringent regulations could stifle growth in this emerging sector while too little oversight could expose consumers to significant risks.

 

In his view, a balanced regulatory framework would include:

 

1. Clear Definitions: Establishing clear definitions for different types of cryptocurrencies and tokens to differentiate between securities and utility tokens.

2. Consumer Protections: Implementing measures to protect investors from fraud while promoting transparency within the market.

3. Encouraging Innovation: Creating an environment conducive to innovation by allowing startups to thrive without excessive regulatory burdens.

 

Christie’s insights reflect a growing recognition among policymakers that cryptocurrencies are here to stay and that appropriate regulations are necessary to foster growth while safeguarding consumers.

 

Implications of Proposed Reforms

 

Economic Impact

 

The potential reforms proposed by Christie could have far-reaching economic implications:

 

  • Job Creation: Legalizing marijuana at the federal level could lead to significant job creation within the cannabis industry—from cultivation and production to retail sales.

  • Investment Opportunities: Descheduling cannabis would open up investment opportunities for institutional investors who have been hesitant due to federal restrictions.

  • Boosting Local Economies: Legal cannabis markets have proven beneficial for local economies through increased tax revenues and job creation.

 

Similarly, clear regulations around cryptocurrencies could stimulate investment in blockchain technology and related industries, fostering innovation and economic growth.

 

Social Justice Considerations

 

Both marijuana legalization and sensible cryptocurrency regulations have social justice implications:

 

  • Addressing Past Injustices: Legalizing marijuana could help rectify past injustices related to drug enforcement policies that disproportionately affected marginalized communities.

  • Financial Inclusion: Cryptocurrencies offer opportunities for financial inclusion for those underserved by traditional banking systems, particularly in low-income communities.

 

Political Landscape

 

The political landscape surrounding these issues is complex. While there is bipartisan support for marijuana reform among certain lawmakers, challenges remain in overcoming entrenched opposition. Similarly, cryptocurrency regulation has garnered attention from both sides of the aisle but requires collaboration to establish effective frameworks.

 

Conclusion

 

Chris Christie’s predictions about President-elect Donald Trump’s approach to federal marijuana descheduling and cryptocurrency regulation suggest a potential shift in U.S. policy that could significantly reshape both industries. As public opinion evolves on these issues, lawmakers have an opportunity to enact meaningful reforms that promote economic growth while ensuring consumer protection. The anticipated changes could foster a more robust cannabis industry that contributes positively to the economy and addresses social justice concerns, while clear regulatory frameworks for cryptocurrencies could encourage innovation and protect consumers in the digital economy. Stakeholders in both sectors are closely watching these developments, eager to see how potential reforms might impact their futures. While the realization of Christie’s predictions remains uncertain, it’s clear that the conversation around marijuana and cryptocurrency regulation is ongoing and far from settled.

 

TRUMP 2.0 ON CANNABIS REFORM, READ ON…

TRUMP ON MARIJUANA REFORM

TRUMP 2.0 ON FEDERAL CANNABIS REFORM – WHAT DO WE KNOW?

 



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Webinar Replay: Post-Election Cannabis Wrap – Smoke ’em if You’ve Got ’em

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On Thursday, November 7th, Vince Sliwoski, Aaron Pelley and Fred Rocafort held a post election discussion “Post-Election Cannabis Wrap – Smoke ’em if You’ve Got ’em”. Watch the replay!

Key Takeaways from the “Smoke ’em if You’ve Got ’em – 2024 Post Election Cannabis Wrap” Webinar:

  1. Panelists:
    • Vince Sliwoski: Oregon Business lawyer specializing in cannabis and commercial real estate.
    • Aaron Pelley: Experienced in cannabis law since Washington’s legalization in 2012.
    • Fred Rocafort: Trademark attorney working closely with the cannabis team.
  2. Election Results Overview:
    • Most 2024 cannabis ballot measures did not pass.
    • Florida, South Dakota, and North Dakota saw failures.
    • Nebraska became the 39th state to legalize cannabis for medical use when it passed two cannabis initiatives, Initiatives 437 and 438.
  3. Federal and State-Level Developments:
    • Medical use is currently legal in 38 states, and 24 states allow recreational use.
    • Republican support for marijuana legalization is growing.
  4. Federal Policy Implications:
    • Schedule III Rescheduling: The process to move cannabis to Schedule III is ongoing, which could significantly impact the industry.
    • Importance of Federal Appointments: The future of cannabis policy depends heavily on who is appointed to key positions in the administration.
  5. International and Domestic Trade:
    • Schedule III status could ease import/export restrictions on cannabis.
    • Unified control of House, Senate, and presidency might expedite legislative progress.
  6. Economic and Industry Impact:
    • Cannabis stocks experienced volatility post-election, reflecting investor uncertainty.
    • Federal legalization and banking reforms are crucial for industry stability and growth.
  7. Future Outlook:
    • The potential for federal rescheduling remains strong, with hearings scheduled for early 2025.
    • State-level initiatives and regulatory developments will continue to shape the industry.

Watch the replay!



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I Had Just One Puff

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“How Long Does One Puff of Weed Stay in Your System?”… This topic can be difficult to answer since it is dependent on elements such as the size of the hit and what constitutes a “one hit.” If you take a large bong pull then cough, it might linger in your system for 5-7 days. A moderate dose from a joint can last 3-5 days, whereas a few hits from a vaporizer may last 1-3 days.

 

The length of time that marijuana stays in the body varies based on a number of factors, including metabolism, THC levels, frequency of use, and hydration.

 

Delta-9-tetrahydrocannabinol, or THC, is the primary psychoactive component of cannabis. THC and its metabolites, which remain in your body long after the effects have subsided, are detected by drug tests.

 

Since these metabolites are fat-soluble, they cling to bodily fat molecules. They could thus take a while to fully pass through your system, particularly if your body fat percentage is higher.

 

THC is absorbed by tissues and organs (including the brain, heart, and fat) and converted by the liver into chemicals such as 11-hydroxy-THC and carboxy-THC. Cannabis is eliminated in feces at a rate of around 65%, while urine accounts for 20%. The leftover amount might be kept within the body.

 

THC deposited in bodily tissues ultimately re-enters the circulation and is processed by the liver. For frequent users, THC accumulates in fatty tissues quicker than it can be removed, thus it may be detectable in drug tests for days or weeks following consumption.

 

The detection time varies according to the amount and frequency of cannabis usage. Higher dosages and regular usage result in longer detection times.

 

The type of drug test also affects detection windows. Blood and saliva tests typically detect cannabis metabolites for shorter periods, while urine and hair samples can reveal use for weeks or even months. In some cases, hair tests have detected cannabis use over 90 days after consumption.

 

Detection Windows for Various Cannabis Drug Tests

 

Urine Tests

Among all drug tests, urine testing is the most commonly used method for screening for drug use in an individual.

 

Detection times vary, but a 2017 review suggests the following windows for cannabis in urine after last use:

 

– Single-use (e.g., one joint): up to 3 days

– Moderate use (around 4 times a week): 5–7 days

– Chronic use (daily): 10–15 days

– Chronic heavy use (multiple times daily): over 30 days

 

Blood Tests

Blood tests generally detect recent cannabis use, typically within 2–12 hours after consumption. However, in cases of heavy use, cannabis has been detected up to 30 days later. Chronic heavy use can extend the detection period in the bloodstream.

 

Saliva Tests

THC can enter saliva through secondhand cannabis smoke, but THC metabolites are only present if you’ve personally smoked or ingested cannabis.

 

Saliva testing has a short detection window and can sometimes identify cannabis use on the same day. A 2020 review found that THC was detectable in the saliva of frequent users for up to 72 hours after use, and it may remain in saliva longer than in blood following recent use.

 

In areas where cannabis is illegal, saliva testing is often used for roadside screenings.

 

Hair Tests

Hair follicle tests can detect cannabis use for up to 90 days. After use, cannabinoids reach the hair follicles through small blood vessels and from sebum and sweat surrounding the hair.

 

Hair grows at approximately 0.5 inches per month, so a 1.5-inch segment of hair close to the scalp can reveal cannabis use over the past three months.

 

Factors Affecting THC and Metabolite Retention

 

The length of time THC and its metabolites stay in your system depends on various factors. Some, like body mass index (BMI) and metabolic rate, relate to individual body processing, not the drug itself.

 

Other factors are specific to cannabis use, including:

 

– Dosage: How much you consume

– Frequency: How often you use cannabis

– Method of consumption: Smoking, dabbing, edibles, or sublingual

– THC potency: Higher potency can extend detection time

 

Higher doses and more frequent use generally extend THC retention. Cannabis consumed orally may remain in the system slightly longer than smoked cannabis, and stronger cannabis strains, higher in THC, may also stay detectable for a longer period.

 

How Quickly Do the Effects of Cannabis Set In?

 

When smoking cannabis, effects appear almost immediately, while ingested cannabis may take 1–3 hours to peak.

 

The psychoactive component THC produces a “high” with common effects such as:

 

– Altered senses, including perception of time

– Mood changes

– Difficulty with thinking and problem-solving

– Impaired memory

 

Other short-term effects can include:

– Anxiety and confusion

– Decreased coordination

– Dry mouth and eyes

– Nausea or lightheadedness

– Trouble focusing

– Increased appetite

– Rapid heart rate

– Restlessness and sleepiness

 

In rare cases, high doses may lead to hallucinations, delusions, or acute psychosis.

 

Regular cannabis use may have additional mental and physical effects. While research is ongoing, cannabis use may increase the risk of:

 

– Cognitive issues like memory loss

– Cardiovascular problems including heart disease and stroke

– Respiratory illnesses such as bronchitis or lung infections

– Mood disorders like depression and anxiety

 

Cannabis use during pregnancy can negatively impact fetal growth and development.

 

Duration of Effects

Short-term effects generally taper off within 1–3 hours, but for chronic users, some long-term effects may last days, weeks, or even months. Certain effects may even be permanent.

 

Bottom Line

The amount of time that cannabis remains in your system following a single use varies greatly depending on individual characteristics such as body fat, metabolism, frequency of use, and mode of intake. Frequent users may maintain traces of THC for weeks, whereas infrequent users may test positive for as little as a few days. Hair tests can disclose usage for up to 90 days, while blood and saliva tests identify more recent use. Urine tests are the most popular and have varying detection durations. The duration that THC and its metabolites are detectable will ultimately depend on a number of factors, including dose, strength, and individual body chemistry.

 

PEE IN A CUP COMING UP, READ ON..

how long does weed stay in your urine

HOW LONG DOES WEED STAY IN YOUR URINE FOR A DRUG TEST?



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