For me, Lamictal has brought down mania. I don't think it's been helpful for depression, and certainly not for racing thoughts or anxiety. I keep asking my pdoc to give me her blessing to lower my Lamictal dose, but she refuses. She's so concerned about mania. Anxiety, the severe bipolar nuts anxiety, is what gets me.
But I dunno...I seem to have an odd reaction to Lamictal. I do believe that it's supposed to alleviate BP depression and slow racing thoughts.