Interest in psychedelics is experiencing a renaissance —the FDA is on track to approve use of two within the next two years, creating a variety of business opportunities for cultivators, clinic operators, clinicians, testing labs and support businesses. Writing for In Business Greater Phoenix, Gary Smith addresses psychedelics’ medicinal benefits as well as what the emerging industry could look like in coming years.
Gary, who recently published Psychedelica Lex, an expansive legal manual on psychedelics, is emerging as a preeminent legal authority in the field. His article provides a comprehensive definition of psychedelics and goes on to explain how these mind-altering substances may be used as medicine for conditions like PTSD, depression and anxiety. With some municipalities decriminalizing psychedelics, Gary urges entrepreneurs who are looking to become involved to start educating themselves and taking action sooner rather than later.
A seasoned litigator, advisor, mediator and arbitrator, Gary focuses his practice on commercial matters, construction, real estate, cannabis and administrative law. He is the founder and president of the Arizona Cannabis Bar Association, an organization committed to educating lawyers and the public about cannabis law and responsible legislation. He also serves on the board of the Arizona Cannabis Chamber of Commerce.