A new Adam Smith Institute report has asked for reclassification of psilocybin as a less harmful drug. Psilocybin is a naturally occurring psychedelic compound in over 200 mushroom species that have the potential of treating depression.

Researchers urge the government to reconsider restrictions around psilocybin

According to the Adam Smith Institute report, relaxing restriction around psilocybin could permit more research on the potential of the class A substance in depression treatment. Besides depression the compound in magic mushrooms can also offer therapeutic benefits to individuals facing smoking addiction, anxiety, and other mental health illnesses. Early studies indicate that a psilocybin dose or two can immediately enhance depression and anxiety.

Clinical studies indicate that psilocybin could be an effective and safe treatment for some psychitr4ic disorders, especially for patients who are non-responsive to antidepressants and other therapeutic drugs. Researchers argue that restrictive government regulations on psilocybin have stymied studies. The Adam Institute report urges ministers to review restrictions around psilocybin by reclassifying it, thus removing hurdles researchers face.

Reclassifying psilocybin will expedite research

Currently, Psilocybin falls under Schedule 1 drugs alongside LSD, opium, cannabis, and ecstasy in the UK, and this is not a medicinal compound. Although clinical trials are possible under a license, getting one tends to take time, and it is costly for researchers. The report calls for the reclassification of psilocybin as a Schedule 2 drug, which will cut the time and cost taken to get a license and remove the stigma around research in psilocybin.

Jo Neill, the report’s co-author and psychopharmacology professor at Manchester University, said that patients are losing out on the potential benefits of psilocybin. This because of the time and costs associated with getting necessary research data for approval of psilocybin. Neill said that many people could be researching psilocybin but aren’t because of the cost and time it takes to get a license. He argues that rescheduling psilocybin could ease things, and almost every university will have a program on psilocybin studies.

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