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September 12, 2025
Built by a former cannabis regulator, Policy, Decoded is your high-signal daily briefing for operators, investors, and policymakers navigating the collision of law, regulation, and business.
Todayās edition is brought to you by Pacaso and The Daily Upside, whose support helps us maintain this as a free service to our clients and broader network. Donāt be shy about referring this to your friends, either!
Floridaās medical market just topped $1 billion while Governor DeSantis leans on every lever to block legalization. California advanced a long-awaited tax cut, New Jerseyās Senate president cracked the door on homegrow, and Minnesota tribes stepped in where the state stumbled. In Washington, RFK Jr. pivoted from pro-legalization rhetoric to youth-focused caution, and Congress pushed NIH toward studying real-world cannabis products. Abroad, Germanyās legal market accelerated, and South Africa positioned itself as a global player.
š“ Floridaās billion-dollar paradox
šØ RFK Jr.ās youth pivot
š Germanyās legalization surge
Itās Friday - take a breath, recharge, and weāll be back Monday with the signal that matters.
How 433 Investors Unlocked 400X Return Potential
Institutional investors back startups to unlock outsized returns. Regular investors have to wait. But not anymore. Thanks to regulatory updates, some companies are doing things differently.
Take Revolut. In 2016, 433 regular people invested an average of $2,730. Today? They got a 400X buyout offer from the company, as Revolutās valuation increased 89,900% in the same timeframe.
Founded by a former Zillow exec, Pacasoās co-ownership tech reshapes the $1.3T vacation home market. Theyāve earned $110M+ in gross profit to date, including 41% YoY growth in 2024 alone. They even reserved the Nasdaq ticker PCSO.
The same institutional investors behind Uber, Venmo, and eBay backed Pacaso. And you can join them. But not for long. Pacasoās investment opportunity ends September 18.
Paid advertisement for Pacasoās Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.