Truffle Report has compiled a roundup of major psychedelic business and investment news from July 26-30, making it easier for you to access these insights in one place. atai Life Sciences On…
Legal Status of Psychedelics
Ayahuasca, a psychotropic substance containing DMT as its active ingredient, is controlled under the Convention of Psychotropic Substances, 1971 as a Schedule I drug. This classification indicates that it is liable to be abused, but also carries potentially therapeutic properties. Consumption of ayahuasca, particularly during religious practices, has expanded globally over the past few years, heralding alterations to its legal status in many countries. Truffle Report has put together an international breakdown of ayahuasca legality.
Psilocybin is a naturally occurring psychedelic, frequently used recreationally and as plant medicine, and that is found in over 200 kinds of mushrooms across the world. It is prohibited under international law by the United Nations’ Vienna Convention of 1971 because of its psychoactive properties. While the use of psilocybin remains outlawed in most countries, some states are realizing the therapeutic benefits of the plant medicines, and have been allowing exemptions for clinical trials and medical purposes. Truffle Report has put together this updated version of our legal status world map with current psilocybin data.