How big could the psychedelics market be in the US?

13.5 billion is the current US cannabis market.
70.6 billion is the projection for it in 2028.

This market ten years ago barely existed, but one state at a time moved it to an industry which will eventually employ a million people.

Marijuana was number one and now a growing lobby exist to legalize certain psychedelics, which seems about where cannabis legalization was in 2005. Probably a little stronger.

So big question is just money.

Right now, it’s pretty easy to figure out marijuana market size in certain states/cities, because of other examples in regions.

There’s also no country with really good laws on medicinal or recreational psychedelics, with Peru, Brazil, Portugal & Native American reservations being the best examples.

So far the psychedelic drug market globally is 6.8 billion, but some numbers to get an idea of recreational use in the US.

It’s estimated 30 million Americans have used psychedelics in the last year.
17% of Americans have used them at least once.
Spending on them is over 10 billion a year.

And the big thing to this, it’s not been researched that much.

Psychedelics could likely treat a lot of things such as anxiety, depression or just be made safer for consumer use.

So while hard to come up with a real number, the illegal psychedelic market is already on par size wise with the legal cannabis market.

Legalizing this is a free way to create 100,000 jobs.