Zinger Key Points
- Arizona Gov. Katie Hobbs approves MDMA-assisted therapy compensation for PTSD-diagnosed firefighters & peace officers, pending FDA approval
- Hobbs also vetoed a bill for psilocybin service centers, citing the need for more clinical evidence.
- Today's manic market swings are creating the perfect setup for Matt’s next volatility trade. Get his next trade alert for free, right here.
Arizona Allows Workers' Compensation For MDMA Therapy
Arizona Governor Katie Hobbs (R) approved a bill that will permit firefighters and peace officers diagnosed with PTSD to receive workers' compensation for MDMA-assisted therapy, contingent on its future legalization by the FDA, reported Marijuana Moment. While the law allows officials to approve workers’ compensation for this sort of treatment, it does not create a framework to administrate the therapy.
One Step Back In Arizona
Hobbs is also making headlines for vetoing a bill that would have legalized psilocybin service centers in Arizona, citing the need for more evidence before widespread clinical adoption. The veto comes despite the measure’s strong bipartisan support to Senate Bill 1570 and existing state funding for psilocybin research, reported ABC15. If signed, the bill would have allowed the Department of Human Services (DHS) to license psilocybin-assisted therapy centers. Hobbs emphasized the importance of safeguarding patients with scientifically backed treatments, especially for conditions like depression and PTSD. While the Governor killed the bill, she also assigned millions in funding for Scottsdale Research Institute and the University of Arizona to conduct clinical trials with psilocybin in humans.
Another Step Back In Washington
A federal court in Washington dismissed a psychedelics ban lawsuit against the DEA. The lawsuit challenging the DEA's authority to classify two psychedelic substances as Schedule I drugs was dismissed. The case failed as the plaintiffs, Panacea Plant Sciences, could not meet the court's requirement for legal representation by a set deadline. This dismissal may pave the way for the DEA to proceed with the scheduling of these substances, affecting ongoing research and potential therapeutic applications, reports Marijuana Moment. Panacea Plant Sciences’ CEO David Heldreth has expressed intentions to appeal, indicating that the legal battle over psychedelic classifications is far from over.
Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.
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