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Built by a former cannabis regulator, Policy, Decoded helps operators read the policy terrain before it shifts beneath their feet.
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A new episode of The Hybrid dropped Sunday. Erik Gundersen and I went guest-free this time, starting in Virginia, where adults can legally possess cannabis and still have nowhere licensed to buy it, which runs straight into today's edition. From there we get into a looser segment, Would You Rather Regulate, working through the choices nobody in the chair gets to dodge, from oversupply versus market concentration to legislatures that never stop tinkering versus the ones that refuse to fix what is broken. Watch Episode 20 below.
The distinction between medical and adult-use is doing new work this spring, having become the line that decides who gets the benefits of federal recognition. Trulieve reached the New York Stock Exchange by carving its adult-use business out of the company that lists, leaving a medical-only entity that fits the exchange's rules, and California is letting operators split their A and M licenses for the same reason. A House committee is moving to keep medical marijuana out of federal workers' compensation, and the DEA's June 22nd roster decision will set the terms for whether adult-use ever crosses into Schedule III at all. Most of the people drawing that line work in Washington and in the statehouses now redrawing their license categories to match.
🏦 Trulieve splits to list medical-only
🏛️ Blanche sets the roster June 22
👩⚖️ A license may not be property
Something there is that doesn't love a wall.
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