Canada legalized marijuana in 2018 amid much fanfare and projections of a booming market for weed—but the reality has been quite different. In fact, most of those sunny forecasts have failed to materialize, with many companies reporting staggering losses and going under. Analysts blame the poor performance on the country’s tightly regulated distribution system—sales are mostly through government-runs stores—along with a ban on weed advertising and marketing, unlike in legalized states in the U.S., where promoting pot is an essential part of the business to influence consumers.
Meanwhile, Wall Street financiers are high on startups looking into the potential of psychedelics to treat mental illnesses. Until recently, this sector barely existed. But today, venture funding is flowing into companies banking on psychedelic medicines to treat conditions such as depression, anxiety and addiction. While a growing body of research illustrates the possibilities of psychedelics, obstacles include worries about the mind-altering side effects of such drugs.
And finally, a new study finds that long-haul COVID survivors are at risk from a separate epidemic of opioid addiction, given the high rates of painkillers being prescribed to these patients. The study, at Veterans Health facilities, showed an alarmingly high rate of opioid use among COVID survivors with lingering symptoms, and warned about the frequent use of opioids for coronavirus patients.