As psilocybin research depression the cannabis industry continues to grow, Canada’s capital markets have seen an increase in activity related to another substance that supporters are hopeful will eventually be removed from the list of controlled substances – psilocybin. Psilocybin is the active ingredient found in magic mushrooms. Proponents cite research demonstrating psilocybin’s potential as a treatment for various mental illnesses. As Canadians become more informed about this research, we have seen an increased interest in investments related to psilocybin. Here, we outline Canada’s current regulatory landscape for psilocybin and offer thoughts on the future of this emerging industry. “People have lost their licenses in Colorado because they were providing psychedelic sessions. And there are people who have also gotten hurt after psychedelic sessions,” said McQueen, who has therapist training but did not obtain a license.