Voters in the state of Colorado now have the chance to vote for the legalization of psychedelics after a measure advocated for by the Natural Medicine Colorado campaign was approved for the November ballot. This approval comes less than a month after activists in the state submitted an estimated 100,000 more signatures for the legalization initiative than was required for it to qualify for the ballot.
In a press release, Kevin Matthews, one of the initiative’s designated representatives, stated that the group of activists were proud of the work done and argued that psychedelic medicines held great promise for individuals who were dealing with mental health conditions such as depression and post-traumatic stress disorder. Matthews continued by pointing out that new tools were needed to help deal with the growing mental health crisis, noting that research had shown that psychedelic treatments were effective where other therapies had failed.
If approved, the measure, called the Natural Medicine Health Act, will legalize the use, possession, sharing and cultivation of psychedelics — including psilocin, DMT, mescaline, ibogaine and psilocybin — for individuals aged 21 and above. However, no recreational sale of the aforementioned substances will be allowed.
The Department of Regulatory Agencies will, under the initiative, be responsible for the development of rules for a therapeutic psychedelics program where individuals aged 21 and above can go to a licensed healing center and receive treatment under the direction of a trained facilitator. The measure will also create a two-tiered therapeutic model for supervised psychedelic treatment, which will allow psilocin and psilocybin to be therapeutically administered at licensed centers until mid-2026. After this period, regulators will make a decision on whether to allow the regulated use of mescaline, ibogaine and DMT in a therapeutic setting.
Additionally, individuals who have completed their sentences for convictions related to offenses made legal under the initiative will also be allowed to petition the courts to seal their records. The records will be cleared automatically if no objections are made by the district attorney.
Meanwhile, Colorado Gov. Jared Polis signed a measure last month that would legalize MDMA prescriptions if and when the federal government permits use of the substance. Polis, who has in the past acknowledged that he supported the idea of decriminalizing psychedelic substances, also issued an executive order that would offer professional licensing protections for workers who used cannabis in compliance with state law.
This order also prevents state agencies from aiding in any investigations associated with lawful marijuana conduct that may lead to employment penalties.
As many more states take steps to reform their psychedelics laws, the regulations at the federal level could also end up being adjusted so that entities such as Silo Pharma Inc. (OTCQB: SILO) can operate in environments that ease their operations and facilitate sector growth.
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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