Mounting evidence indicates that psychedelic therapy represents an extremely promising line of research. Countries involved in psychedelic research may find themselves at the forefront of a paradigm shift in modern psychiatry. Given the state-ofthe-art biomedical, molecular and imaging facilities in Australia and New Zealand, and given our role as top researchers in other fields of medical research, it would be relatively easy for us to become new and key players leading global psychedelic research. In conclusion, Australia and New Zealand require a sober, evidence-based governmental, academic and public acceptance of psychedelic therapy as a tool in the treatment of various disorders affecting the global population. Academic institutions should rise above the stigma and support investigators ready to pursue research on psychedelic compounds. This could result in the allocation of government funding to research groups interested in investigating the therapeutic potential of psychedelic compounds in Australia and New Zealand, which could ultimately lead to improved therapeutic strategies in treating mental illness.