Turns out the prince was in the Sonoran Desert the whole time.
In Grimm’s fairy tale, the princess kisses the toad. And it turns into a prince.
For sixty years, psychedelics have been the toad of the medical world. It was sixty years of stigma, until….
Last Saturday, Washington kissed the toad.
President Trump signed an executive order fast-tracking research and FDA approval for psychedelic treatments. The whole spectrum — mushrooms, plants, toads.
And the prince showed up immediately. Stocks across the entire sector exploded before the ink was dry.
But here’s what makes this story genuinely interesting…
The toad was already turning into a prince before anyone in Washington paid attention.
Here’s the story ⇩
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But First…
Most people think psychedelics are a 1960s counterculture story.
Hippies. Woodstock. Tie-dye. That’s not where this started.
In the 1950s, psychedelics were legitimate medicine.
Psilocybin was being studied at Harvard. LSD was being tested by major research institutions across the US and Europe. The CIA was running its own experiments. Therapists were using these compounds with patients and reporting results that conventional medicine couldn’t come close to matching — dramatic improvements in depression, anxiety, addiction, and PTSD.
The research was serious and funding was flowing.
Then the counterculture happened.
Psychedelics escaped the labs and became the symbol of everything the establishment was trying to suppress. The anti-war movement. The rebellion. Timothy Leary telling an entire generation to “tune in, turn on, drop out.” Overnight, the drugs went from promising medicine to political liability.
Nixon declared a War on Drugs. The Controlled Substances Act of 1970 threw everything into Schedule I — the same category as heroin.
→ No accepted medical use.
→ No research.
→ No funding.
Scientists who had spent years building promising results had to walk away overnight.
The NIH actually funded ibogaine research in the 1990s — and then quietly shut it down over cardiovascular concerns, leaving the work unfinished.
So the compounds stayed in nature – in mushrooms, in plants, in a toad that lives in the American Southwest. And an entire field of medicine spent thirty years frozen.
Until…
2019, when Mike Tyson went on Joe Rogan’s podcast.⇩
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The Toad That Started It All Over Again.
credit: Metro
In 2019, Tyson told the world he had been smoking secretions from the Sonoran Desert toad — a creature that lives in the American Southwest and naturally produces a substance called 5-MeO-DMT.
People started calling it “the God molecule.” Effects kick in within 30 seconds. The whole experience is over in 20 minutes. Tyson said it cured his depression, his trauma, his addiction.
Researchers got curious. Celebrity after celebrity started sharing similar stories.
→ The New York Times covered it.
→ GQ covered it.
!!! And the National Park Service issued an official warning telling Americans to stop licking the toad.
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The Science That Was There All Along.
→ Psilocybin grows in mushrooms used in indigenous ceremonies for centuries. → Ibogaine comes from the iboga plant, used in spiritual rituals in Central Africa for generations.
→ 5-MeO-DMT is secreted naturally by the Sonoran Desert toad.
When scientists quietly restarted the research in the 2010s — picking up exactly where Nixon forced them to stop — the results were hard to ignore.
→ A 2013 study found psilocybin genuinely beneficial for PTSD patients.
→ A 2016 trial showed it could treat anxiety and depression.
The data kept coming — not from fringe researchers, but from Johns Hopkins and NYU.
Psychedelics work completely differently. Early trials showed patients reaching remission in days — sometimes after a single afternoon session. A large-scale study published in Nature Medicine found that psychedelics reconfigure brain networks in ways conventional antidepressants simply cannot replicate.
The FDA noticed. In 2019 they approved a ketamine-based nasal spray called Spravato for treatment-resistant depression. It’s doing $2 billion in sales this year.
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The Spectrum.
1 Psilocybin — from mushrooms.
The most studied. The closest to approval. Compass Pathways CMPS ( ▼ 2.38% ) is leading the race with COMP360, a pharmaceutical-grade synthetic version being tested for treatment-resistant depression, PTSD, and anorexia. They expect to be launch-ready by end of 2026 — potentially the first psychedelic formally approved by the FDA.
Their second late-stage trial met its primary endpoint earlier this year.
2 Ibogaine — from plants.
The one Trump specifically named in the executive order. Used in other countries to treat PTSD in veterans for years.
Governor Greg Abbott signed a $50 million Texas research bill in June 2025. !!!
!!! Controversial because of cardiovascular risks — irregular heart rhythms, linked to deaths in uncontrolled settings. Which is exactly why moving it into controlled clinical environments matters.
3 5-MeO-DMT — from the Sonoran Desert toad.
The God molecule. The one Tyson smoked.
GH Research GHRS ( ▼ 4.93% ) is developing an inhaled version called GH001 — effects within minutes, full session complete within an hour, early trials showed rapid reduction in depressive symptoms.
AtaiBeckley ATAI ( ▼ 1.53% ) , backed by Peter Thiel, is developing BPL-003, an intranasal version with similar rapid-acting results.
Both are advancing toward Phase 3 trials.
Three completely different substances. Three completely different mechanisms. All pointing in the same direction…
The Text Message.
So how did seventy years of history land on the president’s desk last Saturday?
Joe Rogan texted President Trump about ibogaine.
Trump read it. His response, from the Oval Office, with Rogan sitting next to him:
“Sounds great. Do you want FDA approval? Let’s do it.”
That’s the whole origin story of what is now official US government policy.
A text message.
And seventy years of underground medicine just got a fast pass to the front of the FDA queue.
FDA Commissioner Marty Makary announced priority review vouchers — dramatically accelerated approval timelines — would be issued to three psychedelic treatments this week.
Monday, the market didn’t wait for the details.
→ Compass Pathways +38.9%
→ AtaiBeckley +31%
→ GH Research +20.9%
→ Definium Therapeutics +9.7%
→ Enveric Biosciences +187%
!!! Institutional money is flooding into a space that has been dominated entirely by retail investors for years.
→ Deutsche Bank and Morgan Stanley have both initiated coverage of psychedelic biotechs — firms that wouldn’t have gone near this sector two years ago.
The toad sat in the mud for seventy years.
→ Scientists found it in the 1950s and called it medicine.
→ Politicians took it away in 1970 and called it dangerous.
→ Some people licked it anyway. (don’t do this)
→ The National Park Service told them to stop.
Last Saturday, the White House kissed it.
The prince is getting dressed.
Don’t forget to to cast your vote 👇
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