In "A Silver Lining In The Fight Over Cannabis," I gave a reason for why the White House position on marijuana might not be so bad for stocks. However, there are plenty of reasons to support marijuana legalization, including the rights of individuals, and socioeconomic impact.
Read the article at "Marijuana: The Push for Legalization - Politicoid."
Disclosure: I am/we are long MSRT,.
Additional disclosure: I may also pick up long positions in other marijuana stocks, especially if legalization odds improve.