Lawyers who specialize in the cannabis industry say they’re getting inquiries from a new kind of client: psychedelics companies.
The calls started coming in around a year to a year and a half ago, as the psychedelics industry began to ramp up and garner more investor dollars, half a dozen cannabis lawyers told Business Insider. It’s accelerated in recent months as companies seeking to use psychedelic substances as medical treatments have gone public on US and Canadian stock exchanges.
Like cannabis, psychedelic substances like psilocybin and ibogaine are Schedule I drugs under the Controlled Substances Act in the US, which creates complications for businesses seeking to work with them. That helps create new clientele for cannabis lawyers, who have the expertise of helping cannabis companies navigate complicated laws and regulations over the years.
Read the full story at Business Insider