In the face of a national mental-health crisis, elevating the accessibility and affordability of innovative treatments throughout the US should be of paramount concern. And, as the evidence backing them continues to grow, this includes psychedelic-assisted therapies. A recent decision by the American Medical Association (AMA) hints at progress in the field, but there is a long way to go. If US insurance payers do not expand coverage, access to these therapies will continue to be uneven across society, which runs the risk of leaving those most in need without access. Ensuring coverage to patients on Medicaid as well as private insurance should be central to policy-makers, as well as the development of clinical-practice standard guidelines to empower healthcare professionals with the tools they need to utilize these therapies. What do clinical trials, including those overseen by the FDA, tell us about the benefits and limitations of psychedelic therapies? How can policy regulators break down the legal and social obstacles? And, what would US psychedelic treatment legislation look like?