A new law governing the use of natural psychedelic medicines, known as the Natural Medicine Health Act was passed by voters in November 2022.
As of the writing of this article, the law has not yet gone into effect, but it is scheduled to go into effect no later than September 30, 2024, at which time rules shall be adopted to implement the program and applications will begin to be accepted for licensure. Below is a primer on what citizens can expect from the new law once it goes into effect.
The Natural Medicine Health Act will allow adults who are 21 or older to have access to natural psychedelic medicines that have shown promise in treating various mental illnesses, including depression, PTSD, addiction, and anxiety.
The purpose of this law is to promote the health and healing of individuals through the use of psychedelic medications, rather than focusing on criminal punishments for people who may use psychedelics for the treatment of mental illness.
This law does not allow for the recreational sale and use of psychedelic medications. All medications that are legalized under this law are to be administered by licensed professionals at licensed administration facilities. In addition, the law will initially only allow for the sale of psilocybin and psilocin.
As psilocybin, psilocin, and certain other natural psychedelics are still federally illegal, this law will face challenges similar to those currently faced by the marijuana industry. These challenges will likely include banking, insurance, and potentially federal law enforcement issues.
The medications that will be legalized by this law have shown great promise in treating mental illness, and the Natural Medicine Health Act will do a great deal to give patients the opportunity to access effective and affordable care. However, it is critical that anybody who wishes to enter the industry or receive this manner of treatment understands the rules and regulations governing it.
At this point, most of those rules have not yet been created, but as the law goes into force, those regulations will be defined so that Coloradans will be able to take advantage of the medical and business opportunities that this act presents.
How Can a Colorado Natural Medicine Lawyer Help?
A Colorado Natural Medicine Attorney can help navigate the serious issues that your business may face. Reach out to a Denver Psilocybin Mushroom business attorney at Baker Law Group today.