Top Cannabis Investment News, Member Posts, Cannabis Investment Daily Indices and more!

3yrs ago Cannabis harrisbricken Views: 462

-

Oregon is not the only jurisdiction with psilocybin (and other controlled psychedelic plant substances) on the ballot this fall. For our coverage of Oregon’s Measure 109, see:

On the other side of the country our nation’s capital has its own ballot initiative on psychedelics, Initiative 81, formally known as the Entheogenic Plant and Fungus Policy Act of 2020. Some news organizations have labeled Initiative 81 as a “decriminalization” measure, but it’s important to recognize that even if Initiative 81 passes, psychedelics won’t be “legal” in D.C. Initiative 81 does the following:

  • It makes the “investigation and arrest of adults for non-commercial planting, cultivating, purchasing, transporting, distributing, possessing, and/or engaging in practices with entheogenic plants and fungi among the Metropolitan Police Department’s lowest law enforcement priorities”; and
  • Codifies that “the people of the District of Columbia call upon the Attorney General for the District of Columbia and the United States Attorney for the District of Columbia to cease prosecution of residents of the District of Columbia for these activities.”

So Initiative 81 does not mean that persons may not be prosecuted for the possession, cultivation and so forth of psilocybin and it doesn’t make psilocybin “legal” in any sense.  Psilocybin remains a Schedule 1 drug, meaning the DEA says it has a high likelihood of abuse and no accepted medical use – just like marijuana. (Though just last year the FDA granted psilocybin “breakthrough” status for its potential in treating depression.)

Rather than “legalizing” psilocybin in any respect, Initiative 81 merely declares that the War on Drugs as it pertains to psilocybin should be a low priority for D.C. law enforcement.  In that respect, Initiative 81 is similar to Measure 301, which passed in Denver, Colorado in 2019 and other measures passed in Santa Cruz and Oakland, California and Ann Arbor, Michigan.

Among the findings in Initiative 81 is that “practices with entheogenic plants and fungi have long existed, have been considered sacred to a number of cultures and religions for millennia, and continue to be enhanced and improve.” For more on the use of psychedelics for religious purposes, on that topic, see this excellent article by my colleague, Griffen Thorne, and this one.

We at the Canna Law Blog support Initiative 81, as we do Measure 109, and encourage our D.C.-based readers to vote Yes!  For more reading on psilocybin see:

Election 2020: Psychedelics on the Ballot in Washington D.C. on Harris Bricken.


Today's Cannabis Investment Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
Not a member yet?

Join AlphaMaven

The Premier Alternative Investment
Research and Due Diligence Platform for Investors

Free Membership for Qualified Investors and Industry Participants
  • Easily Customize Content to Match Your Investment Preferences
  • Breaking News 24/7/365
  • Daily Newsletter & Indices
  • Alternative Investment Listings & LeaderBoards
  • Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets, Presentations, Investment Mandates, Video PitchBooks & More!
  • Company Directory
  • Contact Directory
  • Member Posts & Publications
  • Alpha University Video Series to Expand Investor Knowledge
  • AUM Accelerator Program (designed for investment managers)
  • Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.