Actually, I think that depends on the person and the circumstances. I believe that most people who pray do find it comforting, it gives them hope, it is calming. If they pray with others there is a sense of community and belonging. I believe it has much in common with meditation.
I do believe that getting the government involved would violate the principal of separation of church and state.
Lots of charlatans spend lots of money advertising diets and health products that don't work. We have a National Institutes of Health that, among other things, funds studies that make more-objective pronouncements on diet and health.
Argue pro or con: It would be a good investment (payback would exceed opportunity cost) for the US government to create a National Institute of Theology, that would fund research into theological questions. For instance:
Everyone, religious and atheist, should be motivated to want the answers to these questions to become widely known.
(Yes, I know this would be politically impractical. Pointing that out is not interesting. What is interesting, is whether such a NIT would be beneficial, supposing it could be made.)