Whether you’ve traded for decades or just opened an account, the market attracts you for a reason. That is usually related to making money & penny stocks have become a clear focus for traders this year. Not only that, but the inauguration of a new President in the U.S. may also signal potential opportunities for certain industries. The 2020 election saw more than just a new choice for a commander in chief. It also saw the dawn of a new era for things like cannabis and, you guessed it, psychedelics.
The push for decriminalizing things like psilocybin in the US started in the late 2010s. Denver ultimately became the first city to decriminalize psilocybin in May 2019. The cities of Oakland and Santa Cruz, California, also followed along and decriminalized psilocybin in June 2019 and January 2020, respectively. However, a big step was taken by the state of Oregon during the 2020 elections. The state became the first actually to legalize magic mushrooms. On top of this, Washington D.C., voters elected to decriminalize the use of magic mushrooms and other psychedelic substances. This came with the passage of Initiative 81.