Definitely, the toxicity of cannabis is nothing compared to alcohol and nicotine, it's humanely impossible to overdose on cannabis through combustion and disgestion. The cannabis plant really is a ''miracle'' plant if there is any, as hemp can be used as an energy source (all cars before the 1930s ran on hemp oil) and as a textile to produce clothing and paper (US Constitution is written on hemp paper) as well as the flower which can be smoked for both recreational and medicinal purposes for both mental and physical illnesses (though can worsen certain psychotic disorders such as bipolarity and schizphrenia). Cannabis is more readily available to minors in the US than alcohol, which really says something about how much of a failure prohibition is (we should already know prohibition creates a parallel illegal market and funds criminals from the alcohol prohibition during the great depression). The truth is, if there's a demand for a good, there's going to be a supply, the war on drugs cannot possibly succeed and the people that want to smoke cannabis will whether it is legal or illegal.
The economic potential of cannabis is enormous and you can see this already from the medicinal cannabis industry booming in california creating so many jobs in a state that has an incredibly high percentage of unemployment. But increased employment is nothing compared to the immense amount of money the government would make from taxing and regulating legal marijuana sales. Not only that, but all the people in jail for possession and intent to sell would be released (and believe me there are a looooot of people in jail for those charges) which would save the government money from feeding them in jail cell. The government would save even more money from cutting budgets of the DEA and the whole war on drug operation going on with mexico, it's simply mind boggling to think of the money they would both make and save from abolishing marijuana prohibition, it's a win win situation as the drug cartels would not be able to sell marijuana as legal marijuana would be cheaper than illegal marijuana.
The only reason why the DEA was created and marijuana made illegal was to control illegal immigration in a time when the US could not keep its borders very secure (they still canĀ“t) because the large majority of the people back then that grew marijuana and smoked it were mexicans and african americans. The Nixon administration conducted various bogus studies to justify the illegalization of marijuana, such as making monkeys breathe in tanks full of 100 %THC smoke and said that THC killed brain cells when all the monkeys died. However, the reason why the monkeys died and they lost brain cells was because of oxygen deprivation.
The propaganda against marijuana has largely worked and there are many corporations working right now very hard to keep it illegal, such as the pharmaceutical industry, the paper industry, the tobacco industry and the alcohol industry whom do not welcome such a huge and already popular competitor. I believe also that the DEA has ties with the mexican drug cartels that are running the traffic operations as there are reports of people laid off from the DEA talking about them selling guns to the drug cartels on a daily basis (can also be evidenced by the CIA operation Fast and Furious where they sold guns to terrorists to trace them and see where the guns would go, ending up in disastrous scenarios where many US soldiers and officials were killed by these very same guns). The religious lobbying groups in the US most probably also work very hard for legalization never to happen.