By some accounts, prevalence estimates of bipolar have increased 240-fold over the past three decades, and are twice as high in the United States when compared to worldwide averages. In this article, I argue that these numbers (at least in part) emerge from a circulation of risk in the bipolar milieu—it is now by-and-large one’s potential madness that is diagnosed and drugged. I map out how this circulation occurs via a number of psy technologies: kindling, recurrence, diagnostic hypervigilance, early intervention, excess, reproductive counseling, prophylaxis, drug-induced diagnoses, pharmaceutical marketing, and pharmaceutical consumerism. In turn, I consider how these technologies’ collaborative biologizing, classifying, and pharmaceutilizing of risk interacts with the U.S. political climate of intensified surveillance and security. I thus use bipolar as a site to explore the reconfiguration of psy assemblages within a shifting context of discipline and terror.