Gov. Greg Abbott of Texas recently approved a legislation that makes it compulsory for the state to look into the therapeutic potential of psychedelics. This approval was made only a few days after the governor signed a separate bill to expand the state’s medical cannabis program.
Under the psychedelics bill, the state of Texas will be required to conduct research on the medical benefits and risks of ketamine, MDMA and psilocybin for military veterans, in collaboration with a military-focused medical center and the Baylor College of Medicine. The bill also makes it mandatory for a clinical trial on psilocybin for veterans suffering from post-traumatic stress disorder to be carried out.
During a press release conducted after the measure was advanced to the governor’s desk, the sponsor of the measure Rep. Alex Dominguez stated that psychedelic medicine possessed the potential to entirely change society’s approach to mental health treatment, adding that the study was only the first step in helping to realize this.
The state’s former governor Gov. Rick Perry, who has also served as energy secretary in the U.S. urged legislators to pass the psychedelics bill.
Apart from the psychedelics research bill and the medical marijuana expansion measure, the session also saw other reform bills, among them some to lower penalties for marijuana concentrates, update regulations for hemp and decriminalize cannabis possession. However, while these measures were approved in the House, they are yet to be passed in the Senate.
Texas isn’t the only state in the country pursuing reform as earlier this month, a legislation introduced in California which would legalize the possession of psychedelics was approved in the Senate.
Additionally, Gov. Ned Lamont of Connecticut signed a bill this month that will require the state to conduct a study on the therapeutic potential of hallucinogenic mushrooms.
The 2020 November elections also saw Oregon approve historic measures via the ballot, which broadly decriminalized the possession of all drugs and legalized the use of psilocybin mushrooms for therapeutic purposes.
Earlier in April, the Northampton Massachusetts City Council also approved a measure to deprioritize the enforcement of laws against the distribution, use and possession of various psychedelics, like ayahuasca and psilocybin. This move made it the 3rd city in the state to advance the change in policy, the first two being Cambridge and Somerville.
As Texas lawmakers are mandating the state government to study how psychedelics can be beneficial to the population of military veterans, for-profit companies like Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) are already steps ahead and are developing various psychedelic formulations intended to transform the way in which mental health diseases are currently treated.
NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) are available in the company’s newsroom at https://ibn.fm/CYBN
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