Slang for a psychiatric care facility. Often thought to be taken from the HBO show The Sopranos, but earlier references exist, including usage in Season 2 Episode 2 of Twin Peaks back in 1990.
Dale Cooper: Agent Earle? But he's retired!
Albert Rosenfield: Yeah, I know. To a nice, comfortable chair complete with wrist and ankle restraints at the local laughing academy in D.C.