Psilocybin May Emerge As Investment Opportunity As Decriminalization On The Ballot In DC, Oregon

Summary

• An update on Oregon and DC with the elections incoming.
• A forecasted Biden victory will be beneficial for this industry.
• Is Compass Pathways still the best play?

Introduction

The election is incoming, and while all the attention is obviously on the presidential ballot, the vote for decriminalizing mushrooms/psilocybin on the Oregon and DC ballot could provide large gains for the psychedelics space. In my previous article here, I provided the ground work as to my thesis on psychedelics. In this article, I will look specifically at the November election catalyst that all psychedelic investors should pay attention to.

Oregon and DC

On November 3, 2020, DC and Oregon will be voting on the following measures along with their presidential ballots that will shape psychedelics in the near future for the United States. They would be potentially joining Ann Arbor, Denver, Oakland and Santa Cruz as areas in the US where the use of psilocybin will be decriminalized.

There are two items that Oregon will be voting on that will impact that space:

• Measure 109, which would legalize the administration of psilocybin by approved facilitators
• Measure 110, which would decriminalize the possession of all drugs in the state

Meanwhile, in the District of Columbia, they are voting on Initiative 81, which would make possession of mushrooms within the lowest law enforcement priority.

Of course, it is one thing to vote on the item, it is another to see if the vote will come out in favor of saying "yes" to drugs. By comparing the state of Oregon and DC to the cities that have decriminalized the drug, we believe it will pass the vote.

Based on the table below, we can see the following trends:

• The 4 legalized cities have a state governor or mayor who aligns with the Democratic party.
• Each state ranks in the upper half of all states in drugs use by their population.
• Public opinion supported marijuana use by at least 60% and have

Analyst’s Disclosure:I am/we are long MMEDF, CMPS. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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