U.S. Psychedelic Drug Legalization: Urgency Or Inertia?

Fast-tracking MDMA legalization?

How long after the first Republican stands up in Congress to question the commitment of the Democrats towards “the combat readiness of the U.S. military” and “national security” before the Democrats get busy on psychedelic drug reform?

A month? A week? A day?

Republicans and Democrats are “reliable” in at least one respect. They can always be counted upon to look after their own political interests.

It’s not like Republicans and Democrats are incapable of moving quickly – when they want to. When it comes to delivering handouts to Wall Street, that generally takes Congress less time than it takes to say “delivering handouts to Wall Street.”

In its own appraisal of the prospects of psychedelics legalization in the United States, Rolling Stone magazine referred to this as “a very long game”.

Psychedelic Stock Watch disagrees. Democrats and Republicans simply don’t have the luxury of playing their usual “long game” here.

Members of Congress might want to take note: with its $27 million contribution for psychedelic drug research, the DoD is the world’s largest individual donor for psychedelic drug research.

The FDA is currently fast-tracking not one but two psychedelic drug therapies via its Breakthrough Therapy Designation. One of those is MAPS’ Phase 3 clinical trial using MDMA-assisted therapy for PTSD.

Legalization of MDMA in the United States (for medicinal use) remains a very achievable near-term goal for the psychedelic drug industry.

Once one of these previously prohibited drugs is legalized – and the U.S. federal government is forced to implicitly acknowledge the stupidity/futility of its War on Drugs – resistance to other drug reform should rapidly dissipate.

Cannabis legalization obviously remains “a very long game” among disinterested Democrats and Republicans in Congress.

However, with respect to psychedelic drug legalization, the Winds of Change are blowing.

Even in Washington.

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Disclosure: The writer holds shares in MindMed Inc, Numinus Wellness, Cybin Inc, and Mind Cure Health. Mind Cure Health is a client of Psychedelic Stock Watch.

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