This paper argues that the current global legal framework on cannabis prohibition is based on political beliefs and ideas of cultural indifference that emerged during the turbulent 20th century while lacking solid scientific evidence. An attempt to dig into the history of cannabis regulation is made briefly in order to point out the sequence of historic events that has led to the current status quo. Then, the global framework is explained briefly and a short mention is being made to several countries that took the lead and softly deviated from it. The critical questions to be examined refer to the basic purposes that any public policy on narcotic substances should take into consideration: Is the current system efficient? What are the main public health and safety concerns? Is there any other route that could be considered? Economics take the lead to point out another perspective which seems that could be of use for future policy makers.