I think it would be great. I'm sure there would be some revenue from "premium herb", but don't you think most smokers would just start growing in their backyard? Meaning, not a ton of extra tax money? It's not as hard to create as booze and tobacco. I know I would have a garden.
I think the gov has more incentives to keep it as "the evil weed" ... They just busted another "million dollar operatin grow house" here yesterday. Last week they busted one that was set up underground in an old WWII bomb shelter, now that one was incredible to see!