There should be regulation of the drug market, because there will be a big mess without regulation and liability and lawsuits would get out of hand. However, there shouldn't be maximum regulation because that will lead to revolt and more illegal affairs. Regardless, people will do drugs whether it is legal or not.
Our government's only role in drug regulation should be the job the FDA currently carries out, making sure side effects are known and that the drug is safe for consumer use. When the government gets involved, quality seems to go downhill . They cannot guarantee the quality companies can without government involvement.
It is pretty much a well known fact that the war on drugs has been a failure. People are going to do drugs whether it is legal or illegal, so it might as well be legally regulated by the government and health offices. Legal regulation would lead to price changes, more taxes for the government, and safer drugs and drug practices for those who partake.
The United States should have learned its lesson from alcohol Prohibition. The Volstead Act was a complete and utter failure that only served to make those willing to supply the illegal substance rich and powerful. It's no coincidence that most violence in this country and abroad is related to black market goods. You will never get rid of a human's desire to do drugs. It is better to treat the drug like any other product that consumers purchase. Millions of people enter prison because they did something that causes no other physical harm to someone else. A litany of issues accompany being imprisoned for drug possession which has caused a whole generation of people to turn to alternate means of income because of the lack of jobs. Drug prohibition is an utter failure and should be turned into a regulatory issue.