Victoria Litman, Petrie-Flom Center, Cato Institute
Interest in psychedelic substances as recreational, therapeutic, and sacred tools has surged in recent years. The early 21st century has seen expanding scientific research and growing cultural embrace that have brought forth the prospect of federal approval for psychedelic-assisted therapy. But that prospect appeared to dim in August 2024 when the Food and Drug Administration rejected the first application for federally approved psychedelic therapy.