United States

Two states legalised psilocybin by ballot. The money came from one side in both.

Colorado’s register reports $5,807,698.30 supporting the 2022 measure against $50,986.00 opposing. Massachusetts ran a different measure, and its money had a very different shape.

Analysis · Finding · By Allan Kerr · Checked 11 September 2026

In short

Both measures were funded on one side, and the money had a different shape in each state. In Colorado it came almost entirely from organizations. In Massachusetts it split roughly evenly between organizations and individuals. What neither register can tell you is who the organizations were. One organization appears in both registers under four different spellings, and a contributor string is a name and not an identity.

Ballot committee money, by sideTwo separate panels, each scaled to its own maximum and labelled as such, because the supporting and opposing totals differ by orders of magnitude.What the ballot committees reported, on each side Supporting the measure this panel scaled to US$7,752,198.94 Colorado, 2022 US$5,807,698.30 Massachusetts, 2024 US$7,752,198.94 Opposing the measure this panel scaled to US$137,072.50 Colorado, 2022 US$50,986.00 Massachusetts, 2024 US$137,072.50 Every total is printed beside its own bar. No ratio and no percentage appears. The two panels have DIFFERENT maxima and are not to be compared across. Colorado reports contributions; Massachusetts reports receipts. Different measures, different windows, and they are never summed or compared as one number. No contributor is named, individual or organizational.
What the ballot committees reported, on each side. Two panels, each scaled to its own maximum, because the supporting and opposing totals differ by orders of magnitude.

What the committees reported

A committee total measures paperwork on one side and says nothing about how hard the other side tried. With that in front:

Colorado’s campaign-finance register reports $5,807,698.30 of contributions across the two committees supporting the 2022 natural-medicine measure, against $50,986.00 for the committee opposing it. Massachusetts reports $7,752,198.94 of receipts for the committee supporting Question 4 in 2024, against $137,072.50 opposing.

Those two pairs are not one number. Colorado reports contributions and Massachusetts reports receipts, gathered over different windows, and no proportion between any two of these figures appears on this page.

The money was not the same shape in the two states

Of the supporting committee’s own $5,789,588.30 in Colorado, which is a single committee and not the two-committee total above, $5,700,187.15 came from organizations against $89,401.15 from individuals, with $110.00 attributed to no class at all. Massachusetts itemises a wider window: of the $8,998,923.26 its register attributes to a contributor class, $4,746,492.26 came from organizations and $4,252,431.00 from individuals. That itemised total is not the $7,752,198.94 above counted twice; it is a different measure.

So one campaign was funded almost wholly by organizations and the other roughly half by people. The word organizational does not carry across that pair. And two states is a sample of two: Colorado’s shape will be read as typical because it is the more striking, and nothing in either register makes it typical of anything.

What a register cannot tell you

Those four spellings are one contributor, written four ways by whoever was filling in the form.

A contributor string is a name and not an identity, and until somebody reconciles the spellings by hand the register cannot answer the question people actually ask it, which is who gave what. The totals above are sums and are solid. The attribution underneath them is as good as the typing.

This piece does not name that contributor, or any other. Naming the largest organizational giver in a state from a register that cannot reliably distinguish one giver from another would be asserting an identity the source does not establish.

One state’s lobbying register, which answers a machine

Colorado’s lobbying register is the only one of the five this project holds that answers a query cleanly. On the 7 September 2026 read it carried 530 registrations naming a natural-medicine or psilocybin subject across four fiscal years, which fold down to 49 client organizations once the names are reconciled. Two hundred and ninety of those rows carry the declared position Monitoring, which is a lobbyist telling the state they are watching. Eight of the 49 clients attach to the value chain at all. The rest are hospitals, counties, cities, professional bodies and sheriffs.

Registration is not influence, and the register says so itself in the position field. Run the same query on the word psychedelic and it returns nothing, which is a fact about the vocabulary the register uses and not about the field.

And this is one state. Oregon’s Measure 109 money and the federal lobbying half are both unread for this work, so nothing here describes a national picture of policy money.

Every figure above is re-derived from a state register: Colorado’s campaign-finance and lobbying registers, and the Massachusetts Office of Campaign and Political Finance, each with the date it was read. No figure is transcribed from a summary or a news report.
What is not here: any Colorado licence fee, which is unpublished in anything read for this work; any name of any contributor; Oregon’s Measure 109 committees; and the federal lobbying disclosures.
Neighbouring questions

Who pays for the trials, and who owns the companies, are separate questions with separate answers. Who is allowed to make the drug at all has its own piece.

Corrections. Route pending, gated with publication.