Despite promising research into psychedelics as a mental-health treatment, investors are largely staying away
Psychedelic substances are gaining legitimacy as a treatment for mental illnesses, prompting a handful of entrepreneurs and venture-capital investors to look for business opportunities in the nascent sector.
Still, veteran health-care investors say it is too early to jump into the market given the legal ramifications. Psilocybin, found in “magic mushrooms,” has been decriminalized in countries including the Netherlands and Portugal, but remains illegal under U.S. federal law.
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