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September 2, 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 supported by Superhuman AI, the newsletter helping over a million professionals stay ahead of AI tools, trends, and skills in just minutes a day.
A new Emerson poll confirms two-thirds of voters now back cannabis legalization nationwide, putting Trump in control of the most consequential policy shift in fifty years. California’s Senate froze its cannabis tax hike while advancing hemp regulation, Texas expanded medical access with 12 new licenses, and Missouri operators are positioning for a rescheduling windfall. Meanwhile, Schwazze’s restructuring highlights the debt avalanche, investors are flooding into the MSOS ETF, and Canadian spending data underscores how legal markets can win when regulators clear the path. Our deep dive looks at how California’s broken economics are fueling a surge in cannabis smuggling into the UK — proof that oversupply and overtaxation don’t stay local.
📊 Track polling momentum that reshapes political risk
💰 Follow shifting tax, debt, and capital pressures
🌍 Watch U.S. oversupply spill into global markets
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