As is so often the case, legislators have introduced various amendments to upcoming legislation for active military members. Those include measures to protect banks that offer their services to state-legal cannabis businesses and those that will facilitate research on the benefits of psychedelics for military personnel.
The measure that would enable the defense secretary to award grants for research into the therapeutic potential of psychedelics such as ibogaine, psilocybin and MDMA for military members with PTSD, was filed by Rep. Dan Crenshaw…
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NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (NYSE American: CYBN) are available in the company’s newsroom at https://ibn.fm/CYBN
Congress to Vote on Psychedelics Research Amendments for Active Military Members
As is so often the case, legislators have introduced various amendments to upcoming legislation for active military members. Those include measures to protect banks that offer their services to state-legal cannabis businesses and those that will facilitate research on the benefits of psychedelics for military personnel.
The measure that would enable the defense secretary to award grants for research into the therapeutic potential of psychedelics such as ibogaine, psilocybin and MDMA for military members with PTSD, was filed by Rep. Dan Crenshaw. The grants will be awarded to not-for-profit organizations, academic institutions, and state or federal agencies. Under the measure, researchers would be required to carry out clinical trials on PTSD treatments, which would involve either group or individual therapy.
The grants would also be utilized in the support of training practitioners treating military members who are eligible to use psychedelic substances.
Thus far, Crenshaw, who is also a veteran, had voted against drug policy and cannabis reform measures. This includes previous amendments that would have removed barriers to research on the medical benefits of psychedelic substances. It is worth nothing that the congressman’s home state Texas recently passed a law that required officials to conduct research on the potential benefits of ketamine, MDMA and psilocybin for military veterans.
A bipartisan list of co-sponsors, including Rep. Ed Perlmutter, are also working on attaching language to the National Defense Authorization Act that would hinder financial regulators from imposing penalties on credit unions or banks that service state-legal cannabis businesses. Perlmutter is the sponsor of the SAFE Banking Act, which is similar to this amendment and was approved in the House.
Despite the measure not being directly linked to issues related to defense, Perlmutter views the sure-to-pass National Defense Authorization Act as a vehicle for the reform that may proceed to the Senate. This is because all marijuana banking legislations that were approved in the House have yet to be advanced to the Senate.
Rep. Lou Correa also proposed amendments on cannabis research that would require the head of the Veterans Affairs to conduct a clinical trial into the effects of medical marijuana on the health outcomes of veterans who have been diagnosed with PTSD or who deal with chronic pain. With regard to chronic pain, the double-blind randomized controlled trial would explore the effect of the use of marijuana on neuropathic pain, and the dosage and use of alcohol, benzodiazepines and opioids, after taking into consideration overall factors including anxiety and sleep.
For post-traumatic stress disorder, the researchers would be required to study the impact of cannabis on the use of benzodiazepines and overall symptoms.
The attempts to put in place appropriate laws governing psychedelic research come at a time when a number of companies such as Cybin Inc. (NYSE American: CYBN) (NEO: CYBN) have taken significant steps towards advancing psychedelic drug-development programs, and such efforts will add impetus to other researchers seeking a greater understanding of these promising compounds.
NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (NYSE American: CYBN) are available in the company’s newsroom at https://ibn.fm/CYBN
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