Legislators in Colorado Pass MDMA Initiative But Reject Broader Psychedelics Proposal

Earlier last week, legislators in Colorado passed a measure that aligns statutes in the state to legalize MDMA prescriptions if the federal government allows its use. MDMA, which is commonly referred to as ecstasy, has shown promise in its use as a treatment for various indications, including anxiety and PTSD.

The legislators made their decision after hearing testimonies from a number of people, including a military veteran who admitted that MDMA had helped him manage his post-traumatic stress disorder. This measure, which was unanimously approved, is being advanced to the floor.

The House Public & Behavioral Health & Human Services Committee also rejected a separate measure that would have established a panel to study psychedelic substances such as DMT and psilocybin and issued recommendations on possible changes in policy.

It should be noted that the legislation’s defeat came at its sponsor’s behest, who asked that members fail to approve it in order to give voters in the state a chance to have a say on broader psychedelics reform measures that activists plan to place on this year’s ballot. Rep. Alex Valdez, who was the measure’s sponsor, stated that he did not want to prematurely push a bill that minimized activist efforts, explaining that advisory boards would already be included in psychedelics reform proposals if activists managed to gather enough signatures and voters approved the initiatives.

One team is focused on gathering signatures for a ballot measure that would establish licensed healing centers where individuals could use psilocybin for medical purposes as well as legalize its use. Another campaign’s effort would allow individuals aged 21 and above to grow, deliver, gift and possess DMT, mescaline, ibogaine, psilocin and psilocybin.

Valdez’s measure would have established a review panel for plant-based medicine policy. Members would have been appointed by the governor and legislative leaders, after which they would have been given a year to study the use of these medicines to support mental health and present a report with their recommendations and findings.

The final report would have had to address, among many other things, the possible recategorization of psychedelic substances under Colorado’s statute, proper dosage, psychedelic production and distribution, regulations and oversight for the medical use of the substances, among others.

The measure also laid out certain requirements for individuals whom the governor select, including harm-reduction advocates, psychedelics-reform advocates, veterans, pharmacists, physicians and an indigenous person.

This is far from the only state focused on psychedelic reform either, with legislators in states such as Georgia, Michigan, California and Connecticut, among others, hoping to advance reform during this session.

It is just as well that lawmakers are moving to reform psychedelic laws. This trend is timely given that various companies, including Silo Pharma Inc. (OTCQB: SILO), are making headway in developing medicinal formulations from psychedelic substances.

NOTE TO INVESTORS: The latest news and updates relating to Silo Pharma Inc. (OTCQB: SILO) are available in the company’s newsroom at https://ibn.fm/SILO

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