A couple groups are trying to commercialize it. There have been some trials, but they're all relatively limited by depression trial standards. Double-blind is impossible because the participants know 100% if they've received it or not. Someone volunteering to sign up for a depression study to receive psychedelic drugs is probably a believer that they work, so the placebo groups end up disappointed and the active groups are happy they got assigned the psychedelic they signed up.

One of the latest studies: https://jamanetwork.com/journals/jamapsychiatry/fullarticle/...

They followed participants for 8 days, which is pretty disappointing. They really need to follow people for several months to see if anything holds or if it's a short-term placebo effect that wears off.