California on the Verge of a Psychedelic Paradigm Shift: Senate Bill 58 Awaits Governor’s Decision

2.3 min readPublished On: September 14th, 2023By

LOS ANGELES- In a move that signals a potential paradigm shift in drug policy and mental health treatment, California stands on the cusp of decriminalizing several psychedelic substances, thanks to the persistent efforts of Senator Scott Weiner. The legislative journey of Senate Bill 58, which seeks to establish a structured framework for the facilitated use of psychedelics, is nearing its conclusion, with the final decision now resting with Governor Gavin Newsom.

Senator Weiner’s initial attempts to push a psychedelic bill through the California legislature met with resistance. However, his renewed efforts have seen Senate Bill 58 successfully navigate through the legislative channels, reaching the governor’s desk earlier this week. This legislative milestone followed the approval of the amended bill by the California Assembly on September 6, and subsequent endorsement by the State Senate a day later.

The bill proposes a significant shift in the state’s approach to psychedelics, aiming to decriminalize the possession of several compounds including psilocybin, psilocin (found in magic mushrooms), mescaline, and DMT. Moreover, it outlines the creation of a working group tasked with developing a structured framework to facilitate psychedelic treatment, with recommendations expected by January 1, 2025. This approach mirrors initiatives undertaken in Oregon and Colorado, where similar legislation has been enacted.

Governor Newsom, who has remained silent on his stance regarding the bill, has a 12-day window to either sign it into law or veto it. Should he abstain from taking action within this period, the bill will automatically become law. This legislative process marks a departure from the citizen-driven initiatives seen in Colorado and Oregon, representing the first instance of such a bill advancing through state government channels.

California’s history with psychedelics, particularly in the Bay Area, which witnessed the birth of the psychedelic movement, makes it a fitting ground for this potential legislative shift. The state grapples with escalating issues of addiction, mental health disorders, crime, and homelessness – challenges that psychedelics have shown promise in addressing.

Despite the allocation of over four billion dollars towards addressing the mental health crisis in the state, the escalating problems seem to resist current interventions. Advocates for psychedelic treatment argue that the passage of SB58 could herald the advent of novel treatments, desperately needed in the current landscape.

As the legislative session draws to a close, proponents of psychedelic medicine await with bated breath the fate of SB58. A veto by Governor Newsom would necessitate a two-thirds majority vote in the legislature to enact the law.

In the coming weeks, the global community will turn its eyes towards California, a state renowned for its pioneering spirit and innovation. The decision on SB58 stands to potentially usher in a new era in mental health treatment and drug policy reform, marking a significant milestone in the evolving narrative surrounding psychedelics in the United States.

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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