Setting up Shop in Alternative Therapies: A Look at Establishing Practices in the Ketamine and the Psychedelics Space

The Journal of the American Medical Association reported in early 2022 that the market for psychedelic substances is projected to go from $2 billion in 2020 to $10.75 billion by 2027. While psychedelics and ketamine previously were not commonly used for the treatment of mental illnesses, the number of startup businesses and health care providers now focused on the therapeutic use of ketamine for mental health treatment has grown exponentially. Many hope that ketamine and psychedelic treatment models will have the ability to address certain patients' mental illnesses, like depression, when other common treatment models (e.g. anti-depressants) are not successful.

This program will benefit in-house counsel and other attorneys assisting current and newly formed entities seeking to venture into ketamine and psychedelic-assisted therapy. 

1. Understand the federal and state laws that specifically regulate ketamine and psychedelic treatments 

2. Identify red flags for investors and current practices seeking opportunities in the ketamine and psychedelic therapy space (e.g. corporate practice of medicine)

3. Evaluate the possible impact the elimination of COVID waivers will have in the future, including with respect to licensure and controlled substances

4. Discuss potential enforcement actions and litigation in the future