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No hallucination: Psychedelics could be next cannabis-like boom

Author: Jeff Smith

Investors as well as cannabis companies and executives are rushing into psychedelics, a multibillion-dollar opportunity that reminds some of the early days of marijuana – although this infant industry could play out much differently.

The potential market opportunity for psychedelics is as much as $100 billion globally, according to Vancouver, British Columbia-based investment banking firm Canaccord Genuity.

Scientists believe psychedelics could help treat a range of mental-health and behavioral issues, including depression, anxiety, post-traumatic stress disorder (PTSD), addiction and attention deficit hyperactivity disorder (ADHD).

The main ingredient, psilocybin, can activate serotonin receptors, stimulating neural activity in the brain and enhancing consciousness.

Studies done since 2016 by Johns Hopkins University in Maryland and other researchers show potential for psychedelics to treat persistent depression.

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