Why Is Texas Supporting Psychedelics Research While Criminalizing Cannabis? (Op-Ed)

*“This move by Texas officials to expand psychedelics research while
maintaining broad cannabis prohibition and considering banning hemp
products as well isn’t just hypocritical. It’s illogical.”*

*By Adam Stettner, FundCanna*

Texas just announced it will invest $50 million into studying ibogaine, a
powerful psychedelic drug that remains illegal at the federal level. The
goal? To develop it into a potential Food and Drug Administration-approved
treatment for conditions like opioid use disorder, PTSD and depression;
especially among veterans.

On the surface, this might sound like a bold and progressive move. But
here’s the irony: at the very same time, Texas continues to criminalize
cannabis and might soon even outlaw hemp-derived THC products.

Let’s break this down. Cannabis, a plant with centuries of use, decades of
medical data and broad public support remains illegal for adult use in
Texas. Despite overwhelming national support for legalization—a staggering
88 percent of Americans now back medical or recreational cannabis use)—the
state has chosen to double down on prohibition, with lawmakers sending Gov.
Greg Abbott (R) a bill that would outlaw consumable hemp products with any
traces of THC. He has until Sunday to decide whether to allow that ban to
take effect.

Even worse, prohibition isn’t stopping anything. The black market is
thriving in Texas. Cartels and illicit operators flood the state with
unregulated, untested cannabis. No taxes are collected, no consumer
protections exist and legal hemp retailers are now being threatened. It is
a misguided public safety argument deluded by a lack of facts and science,
political conservatism, contradictory business objectives and outdated
stigmas.

Meanwhile, ibogaine, a hallucinogenic alkaloid that can induce intense
psychedelic experiences, is now the subject of a $50 million state-funded
research push. The same lawmakers who claim cannabis is too dangerous and
not well studied are throwing their support behind a compound with far less
research and much more uncertainty with the intent of studying it.

This isn’t a critique of psychedelic medicine. Ibogaine may very well hold
incredible therapeutic value. But if Texas is willing to support
cutting-edge, controversial treatments for serious mental health and
addiction issues, why not start with widely available data and access to
cannabis? Cannabis has already been shown to help with chronic pain,
anxiety, sleep, seizures and opioid dependency.

As for our brave veterans, 41 percent of our military veterans that use
cannabis say their use is medicinal and nearly all Veterans that use
cannabis say the plant has helped them. According to the VA, about 1.1
million vets live with PTSD and the National Institutes of Health (NIH)
National Library of Medicine reports cannabis has been shown to assist
Canadian veterans. Cannabis is federally legal in Canada, where the federal
government has chosen to reimburse veterans for cannabis use for over
18,000 veterans, all of whom claim it has helped with pain, sleep, PTSD and
emotional distress. NIH and Veterans of Foreign Wars have both quoted
studies that show cannabis benefits veterans. THC has been shown to assist
veterans with PTSD, anxiety, depression and nightmares.

This move by Texas officials to expand psychedelics research while
maintaining broad cannabis prohibition and considering banning hemp
products as well isn’t just hypocritical. It’s illogical. If Texas
genuinely wants to support veterans, reduce opioid deaths and improve
mental health outcomes for their citizens, it would be significantly more
logical to first legalize and regulate cannabis. Doing so would generate
tax revenue, reduce black market activity and provide immediate,
research-backed relief to people in need.

Instead, Texas is sending mixed messages. On one hand, it claims to be
forward-thinking and compassionate, funding research on experimental
psychedelics. On the other, it continues to criminalize a plant that’s
already helping millions of people nationwide.

You don’t need to be a doctor or a policy expert to see how backwards this
is. It’s not about safety, science or public health. It’s about politics.
And in the meantime, Texans are paying the price through lost tax revenue,
criminal convictions and lack of access to safe, legal cannabis
medicine—something nearly 85 percent of the country already has.

If Texas really wants to be a leader in the future of plant-based medicine,
here’s a thought: start with cannabis.

*Adam Stettner is an entrepreneur, financial executive, and founder/CEO of
FundCanna, a leading provider of financial solutions for the cannabis
industry. With over 30 years of experience in business and capital markets,
throughout his career he has funded over $20 billion to consumers and
businesses nationwide, he is a vocal advocate for balanced, logical,
data-driven policy and law in emerging or underserved industries.*

Federal Bill Would ‘Effectively’ Ban All Consumable Hemp
Products—’Including CBD’—Congressional Researchers Say

*Image element courtesy of AnonMoos.*

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Cannabis? (Op-Ed) appeared first on Marijuana Moment.