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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. Their support keeps these briefings free and focused on what actually matters.
Virginia's legislature reconvenes today to decide whether to accept a governor's rewrite that dismantles the retail framework they spent years negotiating. Colorado's Marijuana Enforcement Division just published a bulletin admitting, in so many words, that its licensed supply chain has been laundering hemp-derived THC through Metrc. Delaware denied 23 social equity licenses after an Arizona consulting firm captured the control rights before the lottery even closed. Connecticut threatened a cultivator's license over lab results the cultivator says the state cannot scientifically defend. A Boston dispensary's former employee is suing for wages after the company's accounts were frozen. Two likely 2028 presidential candidates spent 4/20 publicly touting their cannabis records. Look at any handoff in the market today and ask who is actually on the hook.
🚨 Tomorrow's reconvened vote on Spanberger's rewrite
🎟️ Delaware catches an Arizona consulting scheme
💸 Pritzker and Beshear spend 4/20 on their records
Man's capacity for justice makes democracy possible; but man's inclination to injustice makes democracy necessary.
Investors see ANOTHER return from Masterworks (!!!!)
That’s 5 sales in 4 months. 28 all time. And the performance?
14.6%, 17.6%, and 17.8%, net annualized returns on sold works held longer than one year (See all 28 at Masterworks.com).
It’s not from stocks, private equity, or real estate… it’s from contemporary and post war art. Crazy, right?
With Masterworks, you don’t need to be a BILLIONAIRE to invest in multi-million dollar art anymore.
Historically, the segment overall has had attractive appreciation and low correlation to stocks.*
Masterworks targets works featuring legends like Banksy, Basquiat, and Picasso, identifying what they believe to have significant long-term appreciation potential, not just at the artist level but at the level of individual artworks.
As one of the largest players in the art market, with $1.3 billion invested over 500 artworks, they pass critical advantages through to their 70,000+ members to add art to their portfolios strategically.
Looking to diversify your investments in 2026?
*According to Masterworks data. Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.