🚪 Hemp's easy exits close

Built by a former cannabis regulator, Policy, Decoded helps operators read the policy terrain before it shifts beneath their feet.

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I'll also be in Chicago June 14-16th for IgniteIt's Cannabis Capital Conference, speaking on a panel called The Pushback Playbook: How States Are Fighting Bans and Protecting Cannabis Progress, alongside the operators, investors, and policymakers trying to read this moment. Policy, Decoded subscribers and friends take 20 percent off registration with code POLICYDECODED20.

Hemp's amendment route ran into a wall this week. The Rules Committee refused to let any of the delay or rescue measures reach the floor, which leaves November 12th standing as written and sends the coalition back to find another vehicle. The fight is not over, and anyone who has watched Congress knows better than to call a deadline final five months out. What is clear is where the energy goes next. To the states, which have to build retail and enforcement around a federal line they did not draw, and to the courts, where the HHC suit filed against the DEA this week opens a product-by-product argument over what the line even covers. Louisiana spent the same week jailing public smokers, Kentucky moved to widen medical access, and AYR handed three more states to its lenders.

🚪 Hemp runs out of road
⚖️ Landry jails the smoke
💸 AYR's lenders take three more