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When Republican Mormons in Utah embrace psychedelics, you know a pharmaceutical revolution is afoot.

Brad Daw, a Mormon and former GOP Utah state representative, recently spoke about his positive spiritual experiences on the psychedelic plant medicine ayahuasca.

Daw is an active bishop with The Church of Jesus Christ of Latter-day Saints and he participated in an ayahuasca ceremony in Costa Rica, where the consumption of the sacred psychedelic brew is traditional and legal.

Biotech investors are pouring hundreds millions of dollars into the research of psychedelics-based treatments that are still technically illegal on the federal level in the U.S. As restrictions get lifted, the market will explode.

The Benefits of “Ego Death”

By rearranging neural pathways and blood flows in the brain, these drugs suppress the “tyranny of the ego” and allow repressed intuitions and subconscious emotions to surface, creating a vision of unity in which all things, including the self, are subsumed into a “oneness.”

Sound corny, like a Hallmark card? Well, millions of people swear by these experiences, and their ranks are growing, even reaching into corporate suites. Consumers nowadays, even members of the establishment, are finding out what all the fuss was about, way back in the 1960s. Big Pharma is taking notice, with massive investments in psychedelics research.

You don’t need a crystal ball to see ayahuasca gummies on the horizon. While the exact course that these healing plants and psychedelic trends will travel can’t be exactly predicted, any company with a foothold in the emerging ayahuasca market is worth consideration as an investment.

Bishop Daw recently detailed his experience on the podcast The Jimmy Rex Show. Daw said that he felt an “overwhelming feeling of peace” and that at times he felt as though he were weightless and “laying in a puddle of light.”

Daw describes his ayahuasca journey as a “positive experience” that culminated in a deep sense of gratitude towards God, who “would keep finding ways to help his children.”

As Daw put it: “The church doesn’t own my experiences” and he found that his experience with ayahuasca strengthened his faith and religious perspective.

Pot and Psychedelics: Two Sides of the Same Coin

Psychedelics is in many ways an industry that’s ancillary to marijuana. The cannabis legalization movement continues to develop momentum, which in turn is fueling efforts to legalize psychedelics.

As of August 2024, 38 states and the District of Columbia have legalized medical marijuana; 24 states and DC have legalized recreational pot.

This accelerating legalization movement is awakening public consciousness about other healing plants, known as entheogenics.

The term entheogenic was recently coined as a way to describe plant-based drugs used in sacred ceremonies.

Ayahuasca is a “DMT” (N,N-Dimethyltryptamine) drug, i.e. a hallucinogenic tryptamine that occurs naturally in many plants and animals. DMT also is referred to as the “spirit molecule” because it can convey an intense mystical experience.

DMT, LSD and psilocybin fall under the general category of “psychedelics,” but each drug contains their own distinctive psychoactive compounds that produce similar but nonetheless different hallucinogenic experiences.

The U.S. government currently doesn’t acknowledge DMT to have any medicinal value, but does consider it to be significantly risky, even though scientific research has shown these drugs to be less risky than, say, alcohol. DMT remains a Schedule I substance and possession is a federal crime.

Ayahuasca trips are broadly similar to those brought about by “classic” psychedelic drugs such as psilocybin or LSD. While ayahuasca trips are similar in that they allow access to an extreme sense of spiritual knowing, they guide the taker on a more organized, emotionally productive journey of personal catharsis. Ayahuasca is more likely than LSD or psychedelic mushrooms to result in crying, epiphanies, and a post-trip spirituality

It’s recommended that ayahuasca be done in small, trustworthy groups, led by an experienced shaman. The drug’s legal status is highly irregular. While there is some religious immunity and gray area in this country, many people travel to Latin or South America to consume the plant brew where it is traditional, potent, and legal.

While the market for psychedelics won’t have as many repeat customers as cannabis, it’s still set up for widespread popularity and profit-making, as an alternative to dependence on less safe pharmaceuticals, such as opioids. Take a look at the following chart:

Entheogenic plants have an extremely high success rate for treating post-traumatic stress disorder (PTSD), addiction, depression, and mental illness. Microdosing of DMT-like compounds similar to the active compounds in ayahuasca are bound to be part of our pharmaceutical future.

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This article previously appeared on Investing Daily.