[Ken H]

It will be a controlled and regulated(mega)tax cash cow, like tobacco and alcohol is. Bootlegging and illegal cultivation will still give you serious prison time.

Exactly, and there is no reason that the black market would be any larger with legal marijuana than it currently is with alcohol.

That means the cartels would take a big hit since most of their revenue comes from mj - 62% according to the ONDCP.

[Nathan Zachary]

"That means the cartels would take a big hit since most of their revenue comes from mj - 62% according to the ONDCP."

I doubt it. it will still be cheaper than government pot. Just like the bootleg booze and cigarettes are. that illegal industry is still quite large.

It's not called the Burrough(?) of alcohol, firearms and tobacco for nothing you know.

[Nathan Zachary]

"Our estimates indicate that between 6% and 8.5% of global cigarette consumption is smuggled."
http://www1.worldbank.org/tobacco/tcdc/365TO392.PDF

Big $$$.