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Yes, but legalization has its own set of problems that can actually be worse than decriminalization. That's why sex worker advocates often push for decriminalization- legalization leads to troublesome double markets because of those regulations, case exhibit- Nevada.
In the legalization scenario, the government gets into the production/sales business for cocaine, heroine, fentanyl, etc.; otherwise the "sellers" would continue to do business with cartels/street dealers, and therefore you have most of the same problems as decriminalization or criminalizing. I don't see a feasible way to do decriminalization or legalization in the US. I think that is downward spiral material.
I prefer keeping them illegal, I was just saying if I had to pick between the other two, I am choosing legalization