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Prohibition and strong enforcement are the only way to protect rhinos — opening legal channels just makes it easier to pass illegal horn off as legitimate product, especially in places rife with bribery and corruption. The ivory trade proved that releasing stockpiles creates new markets and spikes demand. There simply aren't enough rhinos to meet existing demand, let alone the expanded markets that legalization would generate.
Without legal horn sales, rhino farmers can't cover the massive security costs needed to protect their herds, and poachers and the criminal underworld will keep winning. The black market already exists and is thriving — refusing to compete with it just guarantees rhinos get slaughtered while criminals profit. Keeping trade illegal doesn't reduce demand in Asia; it just ensures every horn sold comes from a dead rhino.