New Mexico Advances Psilocybin Research with Memorial Legislation

1.6 min readPublished On: February 28th, 2024By

-LOS ANGELES- In a significant move toward exploring alternative therapeutic treatments, New Mexico Governor Michelle Lujan Grisham has signed Senate Memorial 12 (SM-12), initiating a comprehensive study on the therapeutic potential of psilocybin, the psychoactive compound found in certain mushrooms. The memorial, distinct from typical bill proposals, mandates the New Mexico Department of Health and the University of New Mexico to investigate psilocybin’s efficacy and outline regulatory frameworks for a potential therapeutic program.

This legislative action stems from an acknowledgment of the state’s escalating mental health crisis, marked by a troubling rise in suicides, particularly among veterans and first responders, and the nation-leading rates of drug overdoses and alcohol-related deaths. SM-12 underscores the urgency of finding effective treatments for mental health issues, pointing to promising research from reputable institutions on psilocybin’s medical benefits.

The unanimous support from the New Mexico Senate, with a 37-0 vote, reflects a bipartisan commitment to exploring innovative solutions to the state’s public health challenges. Senator Jeff Steinborn, a key sponsor of the memorial, emphasized the potential of psilocybin to offer relief from major behavioral health issues, providing an alternative to traditional antidepressants with fewer side effects. Senate Minority Whip Craig W. Brandt highlighted the unique nature of psilocybin treatment, suggesting its potential to offer long-term relief with minimal administration.

The initiative aligns with a growing interest in psilocybin research nationwide, with states like Hawaii, Arizona, and Illinois proposing legislation to regulate its therapeutic use. Internationally, figures like Mexican Senator Alejandra Lagunes have advocated for the reconsideration of psilocybin’s legal status, citing personal experiences and the potential benefits for mental health treatment.

The move by New Mexico to study psilocybin’s therapeutic applications marks a pivotal moment in the broader conversation about alternative medicine and mental health treatment. As research continues to unfold, the state’s efforts could pave the way for significant advancements in how mental health conditions are treated, offering hope to those seeking alternatives to conventional therapies.

About the Author: HCN News Team

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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