Interesting. This is the first time someone politically prominent, like Fox, has proposed such trade of cannabis to my knowledge. However, one can be sure that what politicians have in mind is legalized (highly regulated and taxed) trade, and not free trade. The libertarian demands decriminalization in the cannabis trade, rather than legalization.
I'm not sure why decriminalization implies less regulation than legalization. To the contrary, it seem like it leaves the door open for the state to continue to aggress against peaceful drug possessors, albeit to a lesser degree.
Decriminalization indicates governments are not prosecuting cannabis- related acts. And free trade means no regulation by governments.
One of my favorite moments from Fox is how he pissed off Al Sharpton