…there’s a long way to go before these therapies are available to everyone. For one, many of the substances, including MDMA and psilocybin, will likely not get the legal green light for another few years, though some jurisdictions are leading the way.
With one in five North Americans experiencing a mental illness in any given year, a growing crop of investors, companies and researchers are betting on the medicinal future of psychedelics. Currently, there are about 50 publicly traded psychedelic companies globally, most funding, supporting or completing their own clinical research. Some focus on psilocybin (you might know them as magic mushrooms), and others are exploring chemical derivatives such as MDMA, ketamine and LSD.