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January 15, 2026
Built by a former cannabis regulator, Policy, Decoded helps operators read the policy terrain before it shifts beneath their feet.
Todayâs edition is brought to you by Wispr Flow and Masterworks. We break down the accelerating race to secure a national THC beverage market, analyzing how the "corn vs. barley" analogy is rapidly rendering the hemp vs. marijuana debate obsolete. From Curaleafâs controversial legal strategy to void $32M in debt using federal prohibition to Circle Kâs pilot program stocking hemp seltzers in Texas, we examine the widening gap between commercial reality and regulatory containment. We also dive into the new legislative push to protect intoxicating hemp and the persistent insolvency risks for landlords under Schedule III.
Also, be sure to check out the latest episode of The Hybrid for our 2026 bets and tripwires. No hot takes, which is a missed opportunity.
đ„€ The "Corn vs. Barley" Standard
âïž Curaleafâs Contract Gamble
đȘ Circle Kâs Texas Pilot
The consumer has already moved on.
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