U.S. Policy Shifts on Cannabis and Psilocybin for Chronic Pain Management

1.6 min readPublished On: May 13th, 2024By

LOS ANGELES- In a landmark policy shift, the U.S. Drug Enforcement Agency (DEA) has announced plans to reclassify cannabis from a Schedule I to a Schedule III controlled substance, a category that includes less restricted drugs. This change reflects a growing recognition of the potential medicinal benefits of cannabis, historically used for pain relief and various medical conditions.

Concurrently, interest in psilocybin, the psychoactive component in “magic mushrooms”, has increased, particularly for its potential in treating conditions such as depression and chronic pain. The U.S. Food and Drug Administration (FDA) has granted psilocybin a breakthrough therapy designation in recent years, expediting its development due to promising preliminary results in treating treatment-resistant depression.

These developments signal a significant departure from previous federal policies that have heavily restricted the medical use of these substances. The reclassification of cannabis, in particular, could greatly enhance research opportunities by easing some of the regulatory burdens that have hindered scientific studies.

The potential for cannabis and psilocybin in pain management is particularly relevant given that an estimated 50 million Americans suffer from chronic pain. Research indicates that cannabis may offer a safer alternative to opioids and nonsteroidal anti-inflammatory drugs, which are associated with significant side effects and risks, including high rates of overdose and death.

Despite these promising developments, the clinical evidence supporting the effectiveness of cannabis and psilocybin for chronic pain management remains limited. Most clinical trials have been short-term and involved small study populations. Further research is needed to develop effective dosing regimens and to assess the long-term safety and efficacy of these treatments.

The reclassification of cannabis and the therapeutic potential of psilocybin represent important steps forward in the management of chronic pain and other serious health conditions. As these substances become more accessible for medical research, it is hoped that more definitive evidence will emerge to guide their use in clinical practice.

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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