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What’s next, legalizing Cocaine?

Cocaine is already legal and has been for decades.
SECTION II – GENERAL REQUIREMENTS Schedules of Controlled Substances
In contrast, drugs listed in Schedules II through V all have some accepted medical use and therefore may be prescribed, administered, or dispensed for medical use.
Snip - Examples of Schedule II stimulants include amphetamine (Dexedrine® or Adderall®), methamphetamine (Desoxyn®), and methylphenidate (Ritalin®).
Other Schedule II substances include: cocaine, amobarbital, glutethimide, and pentobarbital.

Cocaine (Topical Route) (Mayo Clinic)

Legal Use of Cocaine in the US
In the United States the crystalline powder is imported to pharmaceutical companies who process and package the cocaine for medical use. Merck Pharmaceutical Company and Mallinckrodt Chemical Works distribute cocaine in crystalline form (hydrochloride salt) in dark colored glass bottles to pharmacies and hospitals throughout the United States.

The issue is that cocaine is "controlled" as in it is a "controlled substance". Certain things you do with cocaine (possession, sale, and trafficking), outside of stated legal usage, is what can be illegal.

I hope you learned something today.