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Built by a former cannabis regulator, Policy, Decoded helps operators read the policy terrain before it shifts beneath their feet.
Today's edition is sponsored by Masterworks, the platform that lets you invest in blue-chip art without buying the whole painting. Own fractional shares of a Banksy, a Basquiat, or a Picasso the way you'd hold any other position, while Masterworks files each piece as its own SEC-qualified offering and handles the storage, insurance, and eventual sale. When a work sells, the proceeds go back to investors. Their support keeps these briefings free.
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.
Two weeks ago, a Trump-backed challenger knocked Sen. Bill Cassidy out of his Louisiana primary. Last Friday, the state's attorney general quietly pulled Louisiana from the lawsuit against Trump's marijuana rescheduling order, days after joining it, and gave no reason. The reason is not hard to find. A separate coalition filed a third challenge to the order in the same stretch, all of it now bending toward the DEA hearing that opens June 29th. Hemp is running its own clock toward the November 12th ban it spent the spring trying to delay. Two industries, two federal clocks, and a midterm running underneath both.
⚖️ Louisiana's quiet exit
🏛️ Illinois flexes on offense
💰 New York's $20 million regret
A politician thinks of the next election. A statesman thinks of the next generation.
Where to Invest $100,000 Right Now, According to Experts
Investors face a dilemma. When the S&P 500 finished its worst quarter since 2022 last month, diversifiers like bonds and bitcoin fell too.
Even with the turnaround in mid-April, analysts at Goldman Sachs and Vanguard have projected low-single-digit annualized returns from 2024-2034.
Bloomberg asked where experts would personally invest $100,000 for their March monthly edition.
One answer that surfaced for a second time? Art.
It's what billionaires like Bezos and the Rockefellers have privately used to diversify for decades.
Why?
Appreciation. The ArtPrice100 Index outpaced the S&P 500 overall from 2000 to 2025
Low-correlation. The postwar contemporary segment has moved independently of traditional investments like stocks since ‘95.*
Resilience. A scarce, physical, and global asset class with decades of demonstrated demand.
Thanks to the world's premier art investing platform, now anyone can invest in works featuring legends like Banksy, Basquiat, and Picasso, without needing millions.
Shares in new offerings can sell quickly but...
*According to Masterworks data. Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.