Who’s In Charge of These "Billion Dollar" Psilocybin Figures?

Good morning, and happy Monday! Welcome to another edition of The Drop In, DoubleBlind’s newsletter delivering independent journalism about psychedelics straight to your inbox.

Today’s lead story is about the financial predictions of the psilocybin mushroom market. It’s slated to be raking in billions of dollars by 2031… but what does that mean for the people actually running the businesses expected to generate the (taxable) revenue behind those billion-dollar projections? We don’t do spoilers here; however, we’ve been around these legalization spaces long enough to have a hunch. You can find that story below! You’ll also find pieces on shamans getting arrested around the world, near-death experiences, how our gut impacts moodiness, and so much more. 

If you’re not doing anything on May 25, come to our first Trip & Paint session hosted by visionary artist Linzy Miggantz! The event is free to attend on Zoom, and all you have to do is come with art supplies and your preferred microdose 😛 

Second star to the right and straight on ‘till morning ✨

Mary Carreón
Senior Editor

Together With Superpower

Your body’s whispering. Are you listening?

You feel it. The fog. The fatigue. The burnout.

But your doctor says everything’s “normal”. Again.

Superpower is your health’s second opinion — but better.

• 100+ lab tests that go way deeper than your average checkup.

• Lifetime tracking of your results, not a one-time snapshot.

• 24/7 access to a human medical team.

If you’re microdosing, biohacking, or simply self-curious, this is your mirror.

Two full-body lab tests per year. $499. Zero hidden fees.

Join now.

Psilocybin Market Projections Slated to Hit $3.3 Billion by 2031

A new report says the psychedelic mushroom market will more than double by 2031, fueled by growing therapeutic interest and early regulatory shifts.

The psychedelic mushroom market is projected to hit $3.3 billion by 2031, according to a report from Persistence Market Research. That’s more than double its current value of $1.5 billion from 2024, and the estimate hinges on growing interest in psilocybin, the psychoactive compound found in mushrooms from the Psilocybe, Gymnopilus, and Panaeolus genera. The number reflects a rise in projected demand for psilocybin’s therapeutic potential — particularly for conditions like depression, anxiety, and addiction — as well as a bump in investments and ongoing clinical research. 

Psilocybin’s ability to promote neuroplasticity, which may aid in brain regeneration, offers hope for conditions such as Alzheimer’s and Huntington’s disease. This, coupled with a growing wellness movement, has fueled demand for psilocybin-based products like teas, tinctures, powder, and microdosing kits.

Persistence estimates a growth rate of 10.3% between now and 2031. The report cites factors like shifting public attitudes, early regulatory movement, and a wave of positive clinical trials as drivers behind the projected. Sayali Sheth, a senior consultant at the firm, told Forbes that pharmaceutical companies are beginning to allocate resources toward psychedelic drug development. 

One such company is Optimi Health Corp., which is collaborating with Canadian researchers to study psilocybin mushrooms at the genomic level, an effort aimed at improving strain classification and refining cultivation methods. Red Light Holland has started shipping psilocybin truffles from the Netherlands to Canada to develop a naturally sourced active pharmaceutical ingredient. Herbalife Nutrition Ltd., Numinous Wellness, Compass Pathways, and Johnson & Johnson are among the companies listed in the report as key market players in the years to come. 

It’s difficult to know how, exactly, the market will pan out, given the current regulatory landscape and how politics will impact the burgeoning market. But as things currently stand, federal law in the U.S. continues to classify all psychedelic substances, including psilocybin mushrooms, as a Schedule I drug. Though, some states in the U.S. — Oregon and Colorado — have amended their laws to make psychedelic-assisted therapy legal at the state level. 

The report draws on data from company websites, regulatory bodies, white papers, journal articles, and the firm’s internal database. Interest is high, and the market is indeed moving forward. But if the cannabis industry — and its financial predictions — has shown us anything, it’s that billion-dollar projections don’t necessarily equate to a healthy, sustainable market and industry for businesses or people. Will similar dynamics unfold in the mushroom market? Time will tell.

Sleeptripping, Shadow People, Psychedelic States, and the Edges of Consciousness

We’re about to drop another wiiild feature this Friday. Journalist David Hillier takes us deep into the eerie and fascinating world of sleeptripping. Have you heard of it? It’s a fringe subculture (we discovered on Reddit, of course) where people intentionally deprive themselves of sleep to hallucinate, “confront” shadow people, and tap into altered states of consciousness. But is it a spiritual practice, a mental health crisis, or something else entirely?

Upgrade your subscription here to get the feature in your inbox this Friday morning.

Join Us

Come to our very first TRIP & PAINT! We’re throwing a B.Y.O.M. (Bring Your Own Microdose) psychedelic art party 🎨 

Join us on Sunday, May 25, at 1 PM PT for a free-flowing, joy-fueled workshop led by visionary artist Linzy Miggantz. Whether you’re a seasoned painter or haven’t touched a brush since grade school, all you need to bring is art supplies, your preferred microdose, and a willingness to let loose and get a little weird.

Sign up to attend our Trip & Paint here!

DoubleBlind Digs

• Sacred Medicines is an Indigenous-led online gathering taking place May 31–June 1, 2025, with an opening ceremony on May 30. Join Elders, researchers, therapists, and organizers for intimate workshops and powerful conversations on how to build a more respectful, reciprocal, and decolonial psychedelic movement. Register here.

• Join the Shulgin Foundation Monday, May 19, at 9 AM PT for Session 5 of the Alexander Shulgin Anniversary Seminar, diving deep into PiHKAL and TiHKAL. It’s free, online, and packed with insights from leading Shulgin scholars—plus all past sessions are up now on YouTube. Sign up here.

• Join Chacruna on Wednesday, May 28, 2025, at 12 PM PT for a deep dive into Navigating Censorship, Ethics, and the Market. Featuring leaders from Synergetic Press, DoubleBlind, and the Journal of Psychedelic Studies, this free, expert-led conversation explores the future of psychedelic media and why thoughtful publishing matters more than ever. Learn More here.

• Join the Berkshire Mushroom Festival this spring for an immersive weekend celebrating mushrooms in all their magic. From wild foraging and cultivation demos to spore print art, sacred fungi talks, and hands-on workshops, this event is your portal into the fungal frontier. Get your tickets here.

• Tired of feeling off and being told you’re fine? Superpower gives you 100+ lab tests, personalized tracking, and real medical support — no fluff. Own your health. $499. Join now.

• Feeling called to guide others with microdosing? The Microdosing for Healing Facilitator Program is a 3-month training for coaches, therapists, and spaceholders rooted in earth medicine. ✨ Use code DB1000 for $1000 off.

*We may make a small commission from purchases using this link. Proceeds through advertising help to fund our independent journalism.

Together With Superpower

There’s more to health than “normal”.

You know your baseline. And you know when something’s off.

Superpower helps you tune in before things go sideways.

• 100+ lab tests

• Results tracked over your lifetime

• 24/7 access to a medical team

Superpower keeps you calibrated.

Two tests a year. $499. No hidden fees.

Health on your frequency.

Join now.