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Over the past couple of years, a class of illegal drugs has captured the mainstream public’s attention by the throat and refused to let go. Psychedelics have joined the wave of drug reform that has swept across America in the past two decades and left dozens of states with legal recreational or medical marijuana markets.
But while the state-level cannabis revolution continues to gain momentum, the psychedelic industry is still in its infancy with barely any regions across the country allowing psychedelic use. Even so, the public is enthralled by hallucinogenics and the enticing benefits they are said to offer, especially now that a growing body of scientific research is backing the therapeutic effectiveness of psychedelics.
Several studies have found that psychedelic drugs, including psilocybin, LSD and MDMA, can treat various mental disorders with minimal side effects, offering relatively long-term symptom reprieve at little doses. These initial studies opened the door to psychedelic research, led to the investment of millions of dollars into the research and development of psychedelic-based treatments, and pushed psychedelics to the forefront of public attention.
The U.S. Food and Drug Administration (FDA) has already approved the use of MDMA in clinical trials and is expected to approve other psychedelics as well. This approval indicates that consumers may soon be able to use psychedelic-assisted therapies to alleviate mental disorders such as depression, anxiety and post-traumatic stress disorder.
Unlike medical cannabis, which faced fierce pushback from opponents during the early days of cannabis legalization, psychedelics don’t seem to be attracting the same amount of debate. The public is much more willing to accept a formerly taboo product as medication this time around.
According to the head of Texas-based Hemp for Victory Robert Head, this is likely because psychedelics weren’t demonized as much as cannabis was during the drug war era. A large portion of the American public had been raised in an era where cannabis had extremely negative associations and interacting with the drug would often attract heavy prison sentences. Before these folks could accept cannabis as an effective alternative to pharmaceuticals, they first had to admit that they were wrong about the plant.
On the other hand, Head explains, since psychedelics never had such a negative image, people could easily accept them because they didn’t have to change their way of thinking in any significant way. Rather than admit they were wrong and change their mindset to accept psychedelics, people are simply taking in new information about a class of drugs they didn’t know much about.
The fact that psychedelics have exhibited potent mental health benefits has made them even more popular as a lot of people don’t respond to conventional treatments like antidepressants.
With America facing a historic mental health crisis amid high costs of living and stagnant wages, an effective and side-effect-free mental health treatment is set to attract the public’s attention. Enterprises such as Mind Medicine Inc. (NASDAQ: MNMD) (NEO: MMED) (DE: MMQ) are working to make such treatments a reality.
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