Businesses connected to Robert F. Kennedy Jr.’s Make America Healthy Again (Maha) movement stand to gain from recent regulatory changes unfolding in Washington, as companies aligned with the health secretary’s agenda emerge as early beneficiaries.

At a two-day meeting held this week by the U.S. Food and Drug Administration (FDA), a Kennedy-backed advisory panel voted to broaden public access to certain peptides, a class of drugs gaining popularity for alleged benefits ranging from accelerated healing to muscle development. This decision came despite FDA scientific staff recommending against such a move, citing a lack of clear health benefits and concerns about safety. The peptides in question include BPC-157, sometimes dubbed the “wolverine drug” for its supposed healing and anti-inflammatory properties, though the agency has noted that current research weighs against expanding its availability.

Industry analysts have identified an expanding market for peptides, potentially reaching multibillion-dollar valuations, benefiting pharmacies, telehealth providers, and drug manufacturers. Among the companies positioned to capitalize on the changing regulatory landscape is Enhanced Group, a telehealth firm partially backed by Donald Trump Jr., which plans to market peptides alongside wellness devices such as wrist-worn health trackers. The company welcomed updated guidance clarifying that such devices do not require regulation as medical devices.

Investors also see momentum in wearables, which Kennedy has championed, offering a boost to companies like Whoop, a fitness tracker manufacturer, and Definium Therapeutics, a developer of psychedelic-based treatments. Mike Collett, managing partner of Promus Ventures, an investment firm with stakes in these companies, described the “Maha” endorsement as providing a favorable market tailwind.

Investment activity extending from the Maha movement includes initiatives led by Finn Kennedy, one of Robert F. Kennedy Jr.’s sons, who is reportedly seeking to raise $100 million for Victoria Ventures, a fund targeting Maha-affiliated healthcare, artificial intelligence, and consumer health companies. Details on the fund’s capital raised have not been publicly disclosed, and Finn Kennedy did not respond to requests for comment. He is also a board member of Maha Holdings, which organized a November summit attended by Kennedy, Vice President JD Vance, and government officials.

Tony Lyons, president of the Maha Action political fund, described the organization’s role as fostering dialogue among scientists, innovators, activists, and officials to address healthcare conversations that have previously faced “censorship,” emphasizing improved health outcomes.

The U.S. Department of Health and Human Services stated that regulatory decisions remain independent of Maha’s influence. However, companies are preparing for potential market growth in peptides. Telehealth provider Hims acquired a peptide manufacturing facility last year and expressed enthusiasm about the category, while awaiting definitive FDA guidance.

Peptides are currently accessed by some consumers through grey markets, a situation that pharmacy groups say complicates safety oversight. Joshua Fritzler, president of Olympia Pharmaceuticals, stated that clearer regulatory frameworks would enable pharmacies to offer peptides responsibly and under proper supervision. Olympia Pharmaceuticals has contributed financially to the Maha political action committee, with CEO Mark Mikhael also making a recent donation, according to federal filings.

As regulatory approaches evolve, health sector companies tied to the Maha movement appear poised to shape new markets, amid ongoing debate over the scientific validity and safety of some promoted treatments.