Welcome to the Cannabis Countdown, the Legal Marijuana Industry’s Number One Curated Weekly News Recap.
In This Week’s Edition, We Recap and Countdown the Top 10 Cannabis and Psychedelics Industry News Stories for the Week of July 19th – 25th, 2021.
Without further ado, let’s get started.
* Yahoo Finance readers, please click here to view the full article.
10. Canadian Insurance Provider to Cover Off-Label Use of Ketamine for Treating Depression
Clinics from the Canadian Rapid Treatment Center of Excellence Inc., a wholly-owned subsidiary of Braxia with locations in Mississauga, Toronto, Ottawa and Montreal will establish direct billing practices with health insurance provider Medavie Blue Cross for qualifying Canadian military veterans
Braxia Scientific (CSE: BRAX) (OTCQB: SHRMF) (FRA: 496), a medical research company in the psychedelics space, recently announced that it has established direct billing practices for its ketamine treatment at specialized mental health clinics in Canada that serve Canadian military veterans.
9. Federal Cannabis Decriminalization on the Horizon
Senate Majority Leader Chuck Schumer and several other Senate Democrats are backing the measure which remains a draft bill at this time
New legislation was introduced Wednesday that would decriminalize cannabis at the federal level, removing it from the list of federally controlled substances. The Cannabis Administration and Opportunity Act would empower states to implement their own cannabis laws.
READ FULL CANNABIS REFORM ARTICLE
8. Massachusetts Lawmakers Discuss Bill to Create Psychedelics Legalization Task Force at Hearing
The legislature’s Joint Judiciary Committee met to discuss legislation from Rep. Mike Connolly (D)
Massachusetts lawmakers on Tuesday heard testimony about a bill to create a task force charged with studying the implications of legalizing psychedelics like psilocybin and ayahuasca.
READ FULL MA PSYCHEDELICS ARTICLE
The senator on Friday took another round of questions on Twitter about the Cannabis Administration and Opportunity Act (CAOA), which he introduced this month alongside Senate Majority Leader Chuck Schumer (D-NY) and Senate Finance Committee Chairman Ron Wyden (D-OR)
Sen. Cory Booker (D-NJ) isn’t deterred by President Joe Biden’s opposition to marijuana legalization and says that he and his Senate colleagues will be talking to the White House now that they’ve released draft reform legislation.
READ FULL WHITE HOUSE CANNABIS ARTICLE
6. AOC Reintroduces Amendment to Allow for Federal Research Into Psychedelics
While a number of private institutions and universities are currently researching the therapeutic potential of a host of psychedelic molecules, most of these remain classified as Schedule I drugs
Rep. Alexandria Ocasio-Cortez is again pushing for legislation that would remove federal barriers to research the therapeutic potential of psychedelic substances like MDMA, psilocybin and ibogaine.
READ FULL AOC PSYCHEDELICS ARTICLE
5. Bruce Linton on Chuck Schumer and Cannabis in the US: “They’ll do a Trudeau”
Despite Chuck Schumer’s proposal, Linton doesn’t expect cannabis legalization to be swift
At the end of June, we met with cannabis mogul Bruce Linton to discuss Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8) and Red Light Holland’s (CSE: TRIP) (OTC: TRUFF) (FRA: 4YX) merger into The HighBrid Lab, and his intention to be part of the board. Linton joins us again today on The Dales Report to discuss a few updates for HighBrid, plus the idea of “psychedelics fatigue.” We also take a look at where Linton thinks the cannabis industry is headed in the United States in the wake of proposed federal legalization.
READ FULL BRUCE LINTON ARTICLE
Psilocybin, a psychedelic compound that can be derived from over 200 species of mushroom, can remodel connections in the mouse brain
That is the conclusion of a new study that examined structural changes in the brain that might explain psilocybin’s enduring antidepressant effects. The study was led by researchers at Yale University. Senior author Alex Kwan, associate professor of psychiatry and neuroscience, said in a press release, “We not only saw a 10% increase in the number of neuronal connections, but also they were on average about 10% larger, so the connections were stronger as well.”
3. Biden’s White House Drug Czar Nominee Worked for a Marijuana Business, Records Show
President Joe Biden’s pick to head up federal drug policy worked for a major marijuana business last year, according to his financial disclosure reports
Rahul Gupta, the nominee for director of the White House Office of National Drug Control Policy (ONDCP), worked as a consultant to Holistic Industries, a multi-state cannabis operator, for nine months in 2020. For a person who would be expressly tasked with maintaining the status quo of prohibition as the nation’s drug czar, this is unconventional—but generally welcomed by marijuana advocates nonetheless.
READ FULL WHITE HOUSE DRUG CZAR ARTICLE
2. Psychedelic Trips Could Soon Be Part of Therapy — Here’s What Those Sessions Will Look Like
Investors are opening their minds and wallets to the possibilities of psychedelic-assisted therapies
Three biopharmaceutical companies aiming to make psychedelic drugs to treat mental health disorders have gone public in recent months: Peter Thiel-backed Atai Life Sciences (NASDAQ: ATAI) IPO’d in June and now has a market cap of $2.6 billion; MindMed (NEO: MMED) (NASDAQ: MNMD) (FRA: MMQ) went public in April and now has a market cap of more than $1 billion; and Compass Pathways (NASDAQ: CMPS) IPO’d in November, with a current market cap of nearly $1.5 billion.
READ FULL PSYCHEDELICS THERAPY ARTICLE
1. Chuck Schumer Discusses Strategy for Getting Enough Votes to Pass Marijuana Legalization Bill
It was just last week that Schumer unveiled a 163-page draft version of the reform legislation alongside Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ)
Senate Majority Leader Chuck Schumer (D-NY) on Thursday discussed his strategy for getting enough votes to pass his federal marijuana legalization bill, describing the process of soliciting feedback on the legislation from colleagues and working to incorporate any requested “modifications” in order to get the measure across the finish line.
READ FULL MARIJUANA LEGALIZATION ARTICLE
With U.S. Pot Stocks the Hot Theme of 2021, Here’s Why Red White & Bloom Could Be One of the Cannabis Sector’s Top Performers
Follow TCI on Social Media: Facebook | Instagram | Twitter | LinkedIn | Investor Group
Follow Psychedelic Profits on Social Media: Facebook | Twitter | LinkedIn | Investor Group
Get Your Copy of The Ultimate Cannabis Investing Guide
Join the Discussion in the TCI Investor Group
Read More:
Featured ArticlesCannabis Stock NewsCannabis Industry ArticlesTechnical Analysis ArticlesWatch Cannabis Stock Videos