The Future of Psilocybin Part I

After years of strict prohibition, psilocybin therapy is finally gaining recognition for its medicinal benefits and use in the treatment of mental health. Though some areas have changed their laws regarding psilocybin research and access, the United States still has a long way to go before psilocybin is fully legitimized in the medical industry.

The future of psilocybin will be shaped by a number of factors relating to research, education, and legalization. Similar to the inception of the cannabis industry, the road to business opportunity with psychedelics will be paved with medical studies, advocacy efforts, and the gradual reshaping of public opinion.

Current Status

Public opinion about psychedelic drugs has changed dramatically over the past 70 years. When psilocybin was first studied in the 1960s, psychologists the world over were excited about the therapeutic potential of mushrooms. Yet, as the 20th century progressed, the recreational use of psychedelic drugs overshadowed therapeutic studies and it was not long before psilocybin was prohibited.

Today, the public is more receptive to research into psychedelic therapy, which is opening the door to the decriminalization and legalization of psilocybin mushrooms. While psilocybin remains federally illegal, there are some interesting movements toward legalization in the United States.

Legal Psychedelic Research

Several states have legalized psilocybin mushroom research. While this is not the same as actually legalizing the use of the substance, it is likely that this would be the next step. These states include:

Texas
Connecticut
New York
Massachusetts

Decriminalization

Across the United States, there is a growing trend toward decriminalizing psilocybin. Some localities have chosen to decriminalize psilocybin and stop using resources to enforce its prohibition. While decriminalization is different from legalization, individuals will no longer be arrested, serve prison time, or obtain a criminal record for possessing psilocybin.

To date, the following U.S. cities have voted to decriminalize psilocybin:

Washington DC
Oakland, CA
Santa Cruz, CA
Ann Arbor, MI
Denver, CO

Legalization

In 2020, Oregon became the first U.S. state to legalize psilocybin. Oregon is currently in the process of developing the structure for legalization, which won’t be implemented until 2023. While it is not entirely clear what the psilocybin industry will look like in Oregon, the state will “allow regulated use of psychedelic mushrooms in a therapeutic setting.”

Research and Therapy

Research is the most critical factor in the eventual legalization of psilocybin. Once the medical community has developed reproducible and scalable therapies for mushrooms, it is likely that the legal psilocybin industry will expand rapidly.

Accredited institutions such as Johns Hopkins have been able to conduct in-depth research into psilocybin and study its use and effects in detail. Additionally, private companies like Mydecine have begun to conduct their own successful research into psilocybin therapy. The work of COMPASS Pathways is also noteworthy, as the company received the “breakthrough therapy” designation by the FDA for psilocybin research.

The Future of Psilocybin

One of the most critical components for the future of psilocybin is public awareness. Just as seen with cannabis legalization, acceptance from the scientific and medical communities will likely preclude a shift in public opinion concerning psilocybin. This notion is already evidenced in the decriminalization and legalization of psilocybin in select regions of the United States.

One of the most effective means for the legalization of psilocybin is education. Today, the emphasis is shifting away from “tripping” or “getting high” and toward psilocybin’s legitimate medical benefits. For people interested in learning more about psychedelic medicine, there are many great sources for educational information, such as Psychable. Though access to psilocybin is limited right now, this is likely to change in the near future.

How Can Sapphire Risk Help?

Tony Gallo and the team at Sapphire Risk Advisory Group are prepared to help with licensing and security procedures for commercial psilocybin facilities across the country, including states like California, Colorado, and Oregon. Follow us on social media to stay up to date with psychedelic industry updates!