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August 27, 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.

Before diving in, a quick acknowledgment of today’s sponsor, 1440 Media, whose support helps keep this briefing free and in your inbox each morning.

The cannabis industry woke up today to its first federal class action over a medical data breach - a nearly one-million–record exposure in Ohio that transforms a local security lapse into an industry-wide reckoning on liability, compliance, and cost. At the same time, Minnesota’s licensing collapse is stranding businesses for years, Colorado’s psychedelic rollout is already hitting structural walls, and Pennsylvania’s treasurer is dismantling rosy revenue math without touching legalization. The pattern is clear: cannabis is colliding with institutional accountability, and the gap between political promises and operational realities is getting harder to ignore.

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