> Yet we are all supposed to accept the "facts" that psilocybin (and cannabis) are considered schedule 1 illicit substances (high potential for abuse and no currently accepted medical use).

To be clear, this compound they're testing is also a Schedule 1 drug. COMP360 is their name for their psilocybin formulation. It's not a separate chemical, it is literally psilocybin.

Schedule 1 drugs can be used in clinical trials. Positive results in a clinical trial does not automatically remove the Schedule 1 designation. The medication is not approved yet and the clinical trial results are preliminary.