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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.
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This week exposes the brutal economics underlying cannabis industry consolidation as AYR Wellness's $35-to-3¢ collapse demonstrates why overleveraged MSOs become acquisition opportunities for their own lenders rather than reorganization candidates, while Trump privately commits "multiple times" to marijuana rescheduling according to ScottsMiracle-Gro's CEO even as DEA keeps the process indefinitely stalled, and New York offers $250K relocation grants to dispensaries caught in the state's three-year measurement blunder that incorrectly applied liquor store distance rules to cannabis retailers. From Chinese synthetic cannabinoid networks exploiting hemp loopholes through identical supply chains that service fentanyl trafficking to Nebraska's regulatory sabotage designed to prove medical cannabis programs don't work, the intelligence reveals how prohibition creates more dangerous unregulated alternatives while sophisticated capital extracts value from industry fragmentation.
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