As cannabis legalization spreads across the globe, another mind-altering drug is trying to follow in its tracks: magic mushrooms.
Denver voted in May to decriminalize the fungus that contains psilocybin, a psychedelic compound popularized by ’60s counterculture. Oakland, California followed Denver’s lead a few weeks later and Oregon is trying to get a similar measure on the ballot for 2020.
Advocates say mushrooms have untapped medical potential that could be as big as cannabis, particularly for treating depression and addiction. The U.S. Food and Drug Administration granted “
breakthrough therapy” status in October to
Compass Pathways Ltd. to test the drug for treatment-resistant depression, expediting the development process. The London-based company says it’s now proceeding with a large-scale clinical trial in Europe and North America.
In recent years, researchers at New York University
found psilocybin caused a “rapid and sustained” reduction in anxiety and depression in patients with life-threatening cancer. And psychiatrists at Johns Hopkins University discovered mushrooms can help people quit
smoking. Another study found the psychedelic can also help with
alcohol dependence.
“The medical and therapeutic applications are becoming incontrovertible in a world where depression is one of the most commonly diagnosed conditions,” said Ronan Levy, a former executive at
Aurora Cannabis Inc.and co-founder of Toronto-based
Field Trip Ventures, a startup focused on therapeutic psychedelics including mushrooms.
