Consider the suppressed effect on demand; lower demand through banning means more stable prices. Even under medical/rec programs the prices aren't lower and if

Consider the suppressed effect on demand; lower demand through banning means more stable prices. Even under medical/rec programs the prices aren't lower and if fully legalized with regulatory complexity the price would skyrocket as demand explodes and supplier constraints remain. Equilibrium will be reached based specifically on the actions of government to allow it to. Meaning, if government suppresses demand and limits supply through laws they stand to benefit the most from taxation. Just like anyone would with the same power in the free market as a middle man. Hence, the tax-it-to-have-it scheme has to move slowly or else the gray market that surfaces will do so specifically to undercut taxation and artificial government constraints. (Just like with pharmaceuticals and online markets)