We spent a couple of class periods discussing the legal status of marijuana in the United States, and the resulting high levels of enforcement spending, incarceration, and social distress. Assuming that Congress and the President work to end the current state of uncertainty by re-scheduling marijuana to Schedule II or III, a good deal of regulation will be needed in order to create safe and orderly markets. Please outline a comprehensive regulatory system for production, sales, purchase, and acceptable use of marijuana, including the prevention of negative externalities in the home, in the workplace, and in public.