Yes, it should be.
And I’d tax the FUCK out of it.
I’m inclined to believe there is so much money being made on cannabis sales that if the government was to tax it, we’d be out of the recession in less than a year. Upstart companies would start clean and safe smoking bars, investors would start dumping money into them, said companies would create chains, etc.
You are literally creating a new branch of business by doing so.
Also, as @DrasticDreamer has said, the prison system wouldn’t be as much of a cluster fuck as it is right now, over-crowded with people charged petty bullshit like “intent to sell” or whatever. Just my take.