New research suggests that the apparent enhancement effect from microdosing is based on the placebo effect, rather than a consequence of the administered low dose of the compound. The placebo effect is an established medical research outcome where a beneficial effect is produced by a placebo drug which cannot be attributed to the properties of the placebo itself. Instead, the beneficial outcome is attributable to a patient's belief in the treatment.

This inference was drawn from a 'self-blinding' citizen science initiative. Here 191 participants were given instructions for how to incorporate a placebo control into a microdosing routine. It was found that all psychological outcomes improved significantly based on the starting baseline and as measured across a four week period. This was irrespective a study participant was a member of the microdose group or of the placebo group.

To assess the psychological outcome, this was assessed based on acute responses, like emotional state, and post-acute states, like anxiety. Across these scales there was no significant difference. On this basis, the research findings would suggest that anecdotal benefits of microdosing are not based on an actual fungal derived chemical and instead they can be explained by the placebo effect.