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Blake, Wm. The Descent of Odin. 1797.

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Canada-based Safe Supply is betting on the future legalization of cocaine, comparing the potential shift to the decriminalization of marijuana and psychedelics.

The company, valued at $8.6 million, aims to invest in legal coca products and is working on coca extract beverages for the U.S. market.

Despite optimism from Safe Supply, the likelihood of cocaine legalization in the U.S. remains highly speculative, especially considering the challenges faced in states like Oregon after decriminalizing hard drugs.

Bill Panagiotakopoulos, the CEO of Safe Supply, likened coca to CBD since “it’s the medicinal rather than psychoactive part of the drug. It’s amazing — it gives you energy and no jitters.”

“Our perspective is that Oregon’s decriminalization efforts did exactly what they could be expected to do, which was to bring the underground activities above ground, where it could be regulated more effectively,” Panagiotakapoulos insisted. “The problem is that the reform efforts didn’t go far enough.”