Should we admit the War on Drugs has failed and just legalize everything?

Should we admit the War on Drugs has failed and just legalize everything?
Yes, treat street drugs like alcohol and tobacco: get it out of the hands of the black-market gangs and cartels
No, we can eventually stop trafficking in illegal drugs with more effective law enforcement and education policies
Other (I'll explain below)
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Should we admit the War on Drugs has failed and just legalize everything?
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