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I can rattle off a huge list of qualities for the plant, and plenty of issues as well. That alone is not the case really though. As said it makes to much being illegal - end point pretty much.
Lets jump to the assumption they legalize it tomorrow and manage to tax it (non medical) and at a rate that does not push it underground still. So poof it is legalized and taxed.
How much do you think would need to be made up before the government goes beyond paying for everything it being illegal already does?
How many people would also be out of jobs, direct or indirect?
How much in fines, fee's, and seizure cash would need to be made up?
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