The Feds are opposed to it because it appears to do a better job than many of the lucrative prescription meds at pain management, dealing with depression and anxiety. Much better. And, since the Congress doesn't have a weed lobby, but a wealthy pharma lobby it remains illegal. This is my take on it, and I have some fairly good knowledge of pharma and its lobby.
I would prefer to see it legalized. A friend of mine suggested that it may be a gateway drug because it is illegal. People using marijuana have to buy it from drug dealers who also deal harder drugs. His theory is if it were legal and you bought it at a drug store or liquor shop you would be less likely to move on to a harder substance.
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