I'm torn on this one. On one hand I'm not a fan of prohibition in any form from Government that is solely in the interest of protecting us from ourselves. The Government is not our parent and doesn't know better for us than we do, even if they do, who gave them that responsibility?
On the other hand, I worry about the negative side affects. Right now there is a lucrative black market for a fairly harmless substance (marijuana), legalizing as most others have said would pretty much kill the high profit margins as competition forced prices down. My worry is that criminals will always be criminals and will follow the money. Instead of selling weed to kids at a high school, maybe they will move to kidnapping and human trafficking of young women. I'd prefer we leave a few semi-harmless things on the outlaw side of the equation to occupy their efforts.