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Colorado’s Vote May Boost the Gray Market for Magic Mushrooms

Mushrooms sit ready to be harvested.

Mushrooms sit ready to be harvested.

Photographer: Roger Cremers/Bloomberg

Welcome to my latest newsletter on the cannabis and psychedelics industries. Psychedelics advocates are truly taking a page from marijuana’s playbook as magic mushrooms just became legal in Colorado thanks to efforts by New Approach PAC. That’s the same entity that has funded state ballot initiatives on cannabis. Here’s what it means for business interests.

Colorado’s legalization of magic mushrooms last week was just one of three ballot box initiatives that shifted the US toward wider use of psychoactive drugs — but it could be the one with the most impact.