The analogy breaks down in three ways.
First, it breaks down factually. There isn't a dramatic increase in the homicide rate in this country or in this city. Also, frankly, it breaks down in terms of category, because homicide is a crime against another person. The participants in this crime are not consenting to the crime, whereas in drug trafficking, the participants are consenting to the crime, which leads to a very difficult investigative situation for police. As well, there isn't a criminal market in homicide, or not much of one; there are contract killings, most of those spawned, frankly, by the drug trade. But there is a lucrative criminal market in currently illicit substances.
We see very clearly from the example of alcohol prohibition that the moment it ended, the homicide rate in the United States dropped precipitously, and we can expect the same kind of result here in Canada.