The Elon Musk-inspired ketamine craze sweeping Australia

by · Australian Financial Review

Michael SmithHealth editor
May 22, 2026 – 8.00pm

Elon Musk takes it, actor Matthew Perry died from it, and now thousands of Australians are accessing ketamine to treat severe depression.

Initially developed as a short-acting anaesthetic administered in field hospitals during the Vietnam War, ketamine went on to become widely used as an animal tranquiliser and a popular 1990s party drug dubbed Special K.

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Michael SmithHealth editorMichael Smith is the health editor for The Australian Financial Review. He is based in Sydney. Connect with Michael on Twitter. Email Michael at michael.smith@afr.com

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