September 30, 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.
Today’s edition is brought to you by THC Group and The Hybrid podcast. The new episode features Carl Giannone, co-founder of Trade Roots, on the challenges of operating in Massachusetts and what comes next.
Vertanical’s clinical trial results put a cannabis extract on track for European approval, creating a pharmaceutical benchmark U.S. operators cannot ignore. Michigan’s Senate votes this week on a 24% wholesale tax as flower prices bottom out. San Francisco’s equity buyout shows how exit clauses hollow out hard-won policy gains.
💊 Pharma cannabis enters the clinic
🚨 Michigan’s looming tax cliff
🏙️ Equity exits reshape policy promises
Start the day informed. Stay ahead.