MAKE IT LEGAL! Make it so you can't be fined or punished, permits might still be needed. This may mean the government would add special taxes, or chemically process marijuana until it is no longer recognized as marijuana (take for example tobacco)
DECRIMINALIZE! Decriminalization is the abolition of criminal penalties in relation to certain acts, perhaps retroactively, though perhaps regulated permits or fines might still apply. This would still permit sellers to operate and control quality. Howev
KEEP IT ILLEGAL! It's been illegal for so long most can't remember a time when it was legal. If it isn't broken.. why fix it?