Looking ahead, then, there are some key themes and topics to watch in 2025, which is sure to be a busy year.
Perhaps the most prominent story to follow is the potential impact of an incoming Trump administration, which some in the field expect to shake up psychedelic research (via, for example, a reorientation of NIH priorities and funding), drug development (changes at the FDA), and potentially even policy reform.
Whether that promise comes true will be a key theme to watch. One thing seems clear, psychedelic companies and nonprofits are going to do their best to capitalise on the change in administration, with both formal and informal lobbying and schmoozing efforts expected to intensify.
But as psychedelics enthusiasts and operators alike try to bend the ear of the Trump admin., one must wonder what our psychedelics predecessors might think of this cosying up to a decidedly right-wing government.
More generally, we have seen some pro-psychedelics politicians become thoroughly disgraced, with Matt Gaetz the latest such case. One has to wonder, too, whether the ‘bipartisan’ support for psychedelics might also fall foul of its most polarising figures—from leftie AOC to self-described knuckle dragger Rick Perry. Might this strategy end up ostracising each and every point of the political compass?
There are also questions about how compatible Trump’s appointees are with the various goals of the psychedelics field and drug developers. In one example, Trump’s slash-n-burn office, DOGE, appears keen to defund large swaths of the VA. Would that help or hamstring the agency’s ability to take a leading role in MDMA research and roll-out?
Whether the new administration will change Lykos’ fortunes is yet to be seen, too. Key storylines to watch will be whether the company can secure a new line of funding, and on what terms; how the VA involves itself in MDMA research and roll-out preparedness; the outcome of an independent review of its Phase 3 program; and so on. Doblin, meanwhile, is putting on a brave face, saying there’s a 40% chance no additional Phase 3 study will be needed.
Also on the drug development side of things, all eyes will be on Compass Pathways’ first readout from its Phase 3 program of a synthetic psilocybin candidate (‘COMP360’) in treatment-resistant depression. It could be a make-or-break moment, not only for the company but also for confidence in this class of drug development more broadly.
The future of psychedelic policy reform is also in the balance, with many looking to see whether Colorado’s state-regulated psychedelics program—the second such system in the country—will prove to be more accessible than Oregon’s. And we should get more insight into Oregon’s program, too, as the state is set to provide regular cuts of data starting this year.
We will also see what’s next for the psychedelic policy reform movement, with lawmakers introducing bills across the states as we speak.
Much of this activity will take place in the U.S., however, with other regions largely neglected when it comes to psychedelic policy reform. Take Europe, for example; there’s little in the way of drug policy liberalisation when it comes to psychedelics. Growing concern around ketamine’s risks also threatens such efforts, with the UK expected to decide on whether to place it in the most criminalised class of drugs this year.
But, there are things to keep an eye on in Europe. PsyPal, an EU-funded study of psilocybin to ease psychological and existential distress in a variety of progressive illnesses like MS and COPD, is set to launch this year, the Polish government is funding a study of psilocybin for treatment-resistant depression, and an EU citizens initiative, PsychedeliCare, is aiming to collect over a million signatures. In the UK, meanwhile, a report on psychedelic research is set to be released in short order by the Parliamentary Office of Science and Technology.
There’s certainly plenty to follow in 2025.