I don't think it should be illegal, unless of course there are consequences of which I am not aware. The thing I don't get is why women would want to be in a polygamous relationship(I understand why an egotistical male would). Marriage should be about the parties involved having equal say and involvement in the relationship, and I don't see how that is possible with a polygamous marriage.
Even if the open windows of science at first make us shiver after the cozy indoor warmth of traditional humanizing myths, in the end the fresh air brings vigor, and the great spaces have a splendor of their own - Bertrand Russell