Resolution criteria

No Canadian province has formally decriminalized or legalized psilocybin for recreational use. This market resolves YES if any Canadian province passes legislation that explicitly legalizes psilocybin for recreational use (not medical/therapeutic use). Resolution will be determined by official provincial legislation published on the province's legislative website or confirmed by Health Canada announcements. Canadian provinces follow federal regulations set by the federal government, so legalization would require either provincial override of federal law or federal legalization followed by provincial implementation. Decriminalization (reduced enforcement) does not count as legalization.

Background

Psilocybin is classified as a Schedule III substance under the Controlled Drugs and Substances Act (CDSA). Canadians have had limited legal access to psilocybin under the Special Access Program since 2022, with Health Canada authorizing 301 requests total through June 2025. Alberta became the first province in 2022 to announce a regulatory framework for psychedelic-assisted therapy, with rules effective January 2023 allowing authorized use of psilocybin in medical contexts under tight controls. A 2025 research study identified 57 psilocybin dispensaries operating across Canada in 15 major cities as of May 2024, though there are no Health Canada-authorized psilocybin retailers in any province.

Considerations

It is implausible that Ottawa will legalize psychedelics for recreational use, even though Canada is considered a world leader in drug reform. It is far more likely that the government will follow the U.S. Food and Drug Administration model, which granted certain psychedelic substances a "breakthrough therapy" designation. The distinction between medical legalization and recreational legalization is critical—current momentum focuses on therapeutic access, not recreational use.

This description was generated by AI.