If drugs are legalized but taxed at an extremely high rate, there could be no change for consumers (drugs still remain very hard to get), but the difference is that the tax revenues go to support whatever our taxes normally support instead of Latin American drug cartels busy killing each other and American Spring Breakers in the crossfire.
Legalize only those drugs that are these days mostly imported.
Keep the import ban in place, or impose an additional import tariff (to balance out the fact that drugs grow better near the Equator) to apply further economic pressure to drive the drug cartels out of business.
Domestic drugs must be grown and processed in secure licensed facilities. The tax is applied on exit of the secure facility. This thwarts a black market.
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