Mary Jane Gibson
View all posts by Mary Jane Gibson April 21, 2026
President Donald Trump alongside Commissioner Martin Makary, HHS Secretary Robert F. Kennedy Jr., and podcast host Joe Rogan at the signing on Saturday. Allison Robbert/The Washington Post/Getty Images On April 18, President Donald Trump signed an executive order loosening restrictions on psychedelic drugs. The move clears the way for research into substances that have been illegal under federal law since 1971, when Nixon established the Controlled Substances Act (CSA), classifying psychedelics as high-risk drugs with “no accepted medical use.” The order calls on the Food and Drug Administration to fast-track review of psychedelic drugs like MDMA, LSD, psilocybin, and ibogaine. It also earmarks at least $50 million in federal funds to state-run psychedelic research.
That amount matches the $50 million that Texas has already committed to researching ibogaine, a psychedelic compound that has attracted interest as a treatment for opioid addiction and brain injuries. In 2025, former Texas Gov. Rick Perry co-founded a nonprofit called Americans for Ibogaine; he recently appeared on Joe Rogan’s podcast to advocate for reducing federal restrictions on the drug.
On Saturday, Rogan, who has been a vocal proponent of psychedelic medicines, stood with cabinet officials, including Health Secretary Robert F. Kennedy Jr. and Dr. Mehmet Oz, administrator of the Centers for Medicare and Medicaid Services, in the Oval Office when the executive order was announced. Rogan told the group that he had texted Trump about ibogaine, and that the president replied, “Sounds great. Do you want FDA approval? Let’s do it.” The order states, in part, that it aims to “increase access to psychedelic drugs that could save lives and reverse the crisis of serious mental illness in America.” After signing, Trump quipped, “Can I have some, please?”
Ibogaine is at the core of Trump’s executive order, largely due to advocacy by veterans like Jay Kopelman, a former U.S. Marine whose experience with ibogaine led him to sign on as CEO of Mission to Live, a nonprofit that provides scholarships for psychedelic therapy to war veterans and first responders. Kopelman believes Trump’s order will save lives. “This shifts the paradigm, not just for veterans, but for everybody,” he tells Rolling Stone. “People who have suffered for years with treatment-resistant forms of depression, post-traumatic stress disorder, traumatic brain injuries, and substance use disorder will have access to a medicine that can provide healing and relief.”
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The order outlines a pathway for access to other psychedelic drugs under the Right to Try Act, which allows patients who have been diagnosed with life-threatening diseases to access drugs that have not been approved by the FDA. This means substances including MDMA, psilocybin, 5-MeO-DMT, LSD, and methylone could be designated as breakthrough therapies.
Not everyone favors easing restrictions on psychedelics. The Foundation for Drug Policy Solutions issued a statement condemning the initiative. “The evidence for the supposed therapeutic benefits of these drugs is beyond weak,” wrote CEO Kevin A. Sabet, who has also vocally campaigned against cannabis legalization. “The research behind it is rife with conflict and industry connections.” But the overall response has been favorable, and researchers and investors are gearing up to take advantage of access to substances that have been out of their reach for decades. Psychedelic-related stocks surged Monday at biotech companies like Enveric Biosciences, which shot up 187 percent, while shares in AtaiBeckley, a drug development platform developing psychedelic therapies for mental health disorders, were up by 31 percent, according to Forbes.
Rick Doblin, founder and president of the Multidisciplinary Association for Psychedelic Studies (MAPS), cautions that patients accessing psychedelic treatments will need additional resources like talk therapy. “The key to optimizing patient outcomes and treating as many people as possible will be insurance coverage. And many therapists in America don’t even accept insurance. I think that’s going to be the big challenge: how do we roll this out in a way where it’s not just what’s best for the pharma company, which is selling the drug, but what’s best for patients.”
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Looking past the excitement of investors and researchers, the psychedelic community is divided on this latest development, says Shelby Hartman, co-founder of the psychedelics publication DoubleBlind. “There are people who believe in the importance of FDA approval of psychedelics,” Hartman says, “and there are also those who feel that it’s important for there to be reverence for indigenous ways of relating to these medicines.” Nonetheless, it’s new and noteworthy that psychedelic therapy is one of the most bipartisan issues in Congress, Hartman says. “It’s hard to deny that it’s a step in the right direction, even for a lot of people who dislike Trump.”
