- The end of the War on Drugs in the United States is beginning, with the introduction of bill into Congress to decriminalize drug possession
- If passed, jurisdiction for drug classification would move from the Justice Department to the Department of Health and Human Services
The nation that spearheaded the now-failed War on Drugs has introduced a bill to decriminalize all drugs. On Tuesday, two Democrats sponsored a bill in Congress to decriminalize drug use (but not drug trafficking).
Reps. Bonnie Watson Coleman (D-NJ) and Cori Bush (D-Mo) have sponsored a bill aimed at “a public health- and evidence-based approach to substance misuse.”
Perhaps more importantly for the psychedelic drug industry (and investors in psychedelic stocks) is that
the bill would move authority for classifying drugs from the Justice Department to the Department of Health and Human Services.
For an industry looking to see some of these substances normalized and commercialized (for medicinal use), this would be a huge step in the right direction.
This new jurisdiction over drug classification clearly opens the door for the re-scheduling of some/most of these substances for medicinal use. Rational drug classifications and (where appropriate) normalization of drug laws is integral for getting licensed-and-approved drugs into the hands of U.S. consumers, via trained therapists.
Introduction of a bill is a long way from bill enactment. But the two Democrats are already seeking a Senate sponsor, to attempt to get this onto the floor of the U.S. Senate.
Previously, President Biden has signaled his support for
cannabis decriminalization. However, given the huge and imperative need for psychedelics-based medicines and therapies, this may hopefully motivate the new Democrat administration to broaden its outlook on drug decriminalization.
This would simply give effect to the will of the People.
…recent polling from DPA and the ACLU shows that
the public is ready for the policy change.
In fact, two-thirds of American voters believe that the war on drugs should end, and they support decriminalizing simple possession of currently illegal substances, the survey released last week found.
Psychedelic Stock Watch regularly presents the two-part argument in favor of the normalization of (some) psychedelic drugs:
- Psychedelic drugs are consistently demonstrating spectacular clinical results in treating an array of mental health disorders.
- The existing standard of care for these disorders ranges from mediocre to dismal.
Couple this with the magnitude of need for these drug therapies. As many as
1 in 4 Americans already suffers from one or more stress-related mental health disorders – with these numbers soaring due to the enormous stresses caused by COVID-19 and the associated lockdowns.
The mainstream media has been
banging the drum with increasing regularity on the potential of psychedelic drugs to revolutionize the treatment of many mental health disorders. Additional research is demonstrating enormous therapeutic potential for psychedelic drugs in
other major treatment markets.
Even the FDA has been signaling a more open attitude toward the medicinal use of these substances. It has granted Breakthrough Therapy Designation for several psychedelics-based clinical trials. It recently
approved the use of MDMA (by trained therapists), to better prepare them to administer psychedelics-based therapies.
A huge opportunity to dramatically improve healthcare options for millions of Americans. A huge opportunity to
build a new industry. A huge opportunity to
invest in that industry.
It all begins with normalization of drug laws. And that process has officially started at the federal level in the United States.
With industry leader,
atai Life Sciences preparing to
commence trading on the NASDAQ, the summer could really start to heat up for psychedelic stocks.
