Massachusetts Considers Legalizing Therapeutic Psychedelics

1.1 min readPublished On: April 2nd, 2024By

LOS ANGELES- Last week, the Massachusetts legislature’s Special Joint Committee on Initiative Petitions convened a hearing to deliberate on a proposed initiative aiming to legalize the therapeutic use of natural psychedelics. The measure, which seeks to authorize the consumption of “naturally occurring” psychedelics such as psilocybin mushrooms, peyote, and ibogaine in “therapeutic settings,” is championed by Massachusetts for Mental Health Options (MMHO), an affiliate of New Approach PAC.

The initiative has garnered nearly 100,000 signatures, prompting legislative review. Should the legislature decline to pass the measure by May 1, MMHO must gather an additional 12,429 valid signatures by July 3 to secure a spot on the November ballot.

Proponents of the bill, including military veteran and MMHO campaign director Emily Oneschuk, and Dr. Franklin King of the Mass General Center for the Neuroscience of Psychedelics, highlighted the mental health benefits and minimal abuse potential of psychedelics at the March 26 hearing. They criticized the current legal framework for impeding research and limiting access to potential treatments.

Conversely, psychiatrists Dr. Jerrold Rosenbaum and Dr. Nassir Ghaemi urged caution, citing the need for more research on public health outcomes and the potential for misuse. Rosenbaum drew parallels to the campaign for cannabis legalization but noted the distinct usage patterns and effects of psychedelics.

The committee is set to review the testimonies before deciding on the proposal’s advancement.

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The News Team at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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