Lexology January 4, 2024
Michael Best & Friedrich LLP

Over the past two decades, efforts to relax and eliminate legal restrictions on cannabis have gained widespread backing in the United States. The normalization of marijuana, as well as an emphasis on responsible use, has likely contributed to the renaissance of psychedelics and their potential as therapeutic treatments for addiction, treatment-resistant depression, anxiety, and post-traumatic stress disorder (PTSD). Despite a resurgence in interest, current regulations and restrictions pose a major hurdle for psychedelics.

Psychedelics have not always been strictly regulated or designated as Schedule I drugs. Prior to the 20th century, mushroom extracts, cactus extracts, and toad excretions were used during shamanic rituals to induce sensory experiences for spiritual healing and divination. In 1938, lysergic acid diethylamide, colloquially known as...

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