PSYC Corporation (PSYC)

[Twotone]

Reps. Daniel Pae (R) and Logan Phillips (R) from Oklahoma, filed bills meant to promote research into the therapeutic potential of psilocybin. The proposals are designed to give the legislature different options with similar scientific study objectives, but a key difference is that Pae’s would also decriminalize possession of up to one-and-a-half ounces of psilocybin by making it punishable by a fine, reported Marijuana Moment.
Rep. Pae’s proposal would explicitly authorize research institutes to obtain psilocybin and use it for investigations into treatment efficacy for 10 different conditions, including post-traumatic stress disorder (PTSD), severe depression and opioid use disorder. Eligible institutes would need to obtain a license for the state Department of Health.