With the advancement of FDA clinical trials and decriminalization efforts, there seems to be a gigantic buzz and enthusiasm around the Psychedelic Renaissance. However, which discourses have gained prominence, and which voices are being silenced? Who benefits the most from psychedelics going mainstream and who faces the most hardships? Are this global expansion's economic, social, cultural, and environmental impacts being properly assessed? This presentation aims to rewrite the mainstream narrative around the field of psychedelic science. In keeping with the work of the Chacruna Institute, we will propose a different narrative that includes the voices of minorities and marginalized groups. We will problematize the notion of “renaissance” and how it is conveyed to portray the rebirth of practices and movements that pre-existed and persisted during the peak and decline of the public interest in psychedelics in the Global North. We will explore the dangers of reducing the psychedelic movement to psychedelic science and medicalization, highlighting the difference in status granted to biomedical research and discourse compared to traditional knowledge and other fields. We will further argue that there is a living “psychedelic culture” that goes beyond the scientific realm; it is based in embodied forms of knowledge and cultural modes of perception. It is also crucial to address the current risks inherent to the discourses on “scaling,” “mainstreaming,” and “urgency,” such as the potential for reproducing the status quo, increasing social inequalities, and promoting new forms of colonialism, imperialism, and extractivism. This reflection leads inevitably to environmental issues and the scarcity of natural resources to provide for a large-scale demand for psychedelics. Additionally, when it comes to Prohibition and the War on Drugs, the Global North has a historical debt towards Global South, and this must be taken into account to reset the conversation in a global perspective. Finally, the issue of funding is also crucial in the psychedelic eco-system landscape. While certain organizations dedicated to medicalization, major universities, and research institutes get the lion’s share of funding opportunities, and when start-ups, venture capitalists, and self-proclaimed experts are emerging by the minute, grassroots institutions focused on education, advocacy, and community building face enormous challenges. We hope this presentation helps to question the power imbalances in the field and serves to foster more cultural and political reflections about controversial topics that have been simmering on the sidelines as psychedelics go mainstream.