1. Attempt to ban it.
2. Accept that people are going to get high, and try to limit the harm.
The first has been a complete and utter disaster. The second -- e.g. applying the same rules about who can use it and where they can use it as alcohol -- is the only sane option.
Prohibition is about as effective as abstinence-only education and for many of the same reasons. We can either work with how we wish people would behave or how they're actually going to behave.
Roller coaster rides are fun and cause a release of adrenalin in me, which leads to feeling hyperalert, excited, and energized. That's fun! I don't want to live in a society that wouldn't let me enjoy adrenalin releases.
This morning my wife told me she loved me, and I enjoyed a nice wash of endorphins from it. What's wrong with enjoying that?
The common thread here is that there's not a clean dividing line between "bad" drugs and "good" drugs. All animals enjoy certain chemicals. We're evolved to. That's what makes us (in nature) dig into food that's healthy for us, and drives us to reproduce. A mind free from drugs is going to die of misery in relatively short order.