Is Wall Street about to scupper the psychedelics industry?

While there appears to be no immediate breakthrough in the offing, analyst projections that the industry could be worth over $10bn before 2030 continue to draw interest from commercial prospectors.

As development and research in the sector becomes more frenzied, long standing experts of the field like Jeffrey Lieberman of Colombia University worry that newcomers risk potentially spoiling the party for everyone.

‘Psychedelics could have tremendous benefit for treating a number of illnesses, but if we mess it up and rush the process, these drugs are going to get banned again and you lose that opportunity,’ he warns.

Despite the hype and buzz around medical mushrooms, the reality is that essential investment from insurers will only arrive if focused clinical studies can prove that the substances are completely safe and effective.

In laymen’s terms, standards probably need establishing to ensure that someone isn’t pushing a faulty product for review and upsetting the apple cart.

Well, you now have an influx of biotech companies taking creative approaches purely to get their own patent on ingredients that have been used for millennia.

While a decade ago, the sector had been unanimous in holding science above all else, the potential for profits is muddying the waters as the industry enters a pivotal time.

If FDA approval is the ultimate goal, a tidal wave of new psychedelic derivatives and combinations will only make passing regulatory checks harder to achieve – especially when primary motivations are split between love and money.

It’s been 53 years since the last federal ban on psychedelics and associated research. Could misplaced enthusiasm be about to scupper the sector once more?