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LA Times

What are companies like? Personalized Wellbeing Are they putting themselves and customers at risk by acting like magic mushrooms are legalized? California lawmakers have been trying to legalize psychedelics for years. Several times failed. In August, FDA rejected Lykos Therapeutics proposal to legalize MDMA assisted therapy citing concerns about clinical trial designs. The decision sent shockwaves through the psychedelic sector, suggesting that substances might not be made legal for the masses as quickly as many companies and investors would like.

The demand for psychedelic experiences is still there, and the players on an illegal market, who were once discreet, are now more bold.

Chase, who left his corporate job at L’Oreal in 2022 to start Personalized Wellbeing and Psilouette, is confident in what he perceives as the growing use of magic mushrooms in Los Angeles.

He said, “The psychedelic scene is huge.” “Everyone acts like it’s illegal. It’s a mentality of the herd. The more people who do it, the fewer repercussions.”

Before he founded Personalized Wellbeing, he tried to start a legal mushrooms business in Oregon. There, lawmakers legalized psilocybin for use in therapeutic centers in 2020. He was soon discouraged by high overhead costs, and what he called government over-regulation. He said that under this legalization model “everyone must turn themselves into a pharmaceutical company” in order to survive. To put it another way, you need to raise a lot of money and concentrate on large-scale production.

Ophelia Chong agreed, a cannabis and psychoactives consultant who witnessed indie growers being pushed out of California’s legal weed market in 2016. “This candy-ride of [underground psychedelic products] Candy, gummies, lollipops, and chocolates will only last for a few years. Major players already lead in pharmaceutical funding as psychedelics will not become recreational like marijuana.”

Read more about it at https://www.latimes.com/lifestyle/story/2024-10-03/magic-mushrooms-los-angeles-wellness-business-psilouette