Legalize it all and do away with the illegal imoports and put them out of business and shut the door. Then collect all the tax revenues just like tabacco and alcohol and put it on the shelf with the rest, imagine the Billions each year and not to mention the apparel made and other products like air bages made of hemp.
If Chevron, Exxon, Dupont, Tabacco Farmers etc were smart they would get in the business rather than compete