“States that have legal marijuana continue to see a thriving black market and increasing rates of youth drug use, providing evidence that this theory of “tax and regulate” does not fare well in real life.

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People like going for the cheaper product. Untaxed marijuana on the underground market will always be attractive. And what about kids under 21, or those looking for pot after opening hours? People don’t just smoke marijuana from 9 to 7.”

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Didn’t you learn from prohibition? Keeping drugs illegal creates a black market, and drug dealers don’t card kids. Doesn’t it make more sense to tax and regulate marijuana? - Smart Approaches to Marijuana (learnaboutsam.org)

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“Those who have been following the legalization of marijuana have likely heard the familiar industry refrain that commercializing the drugs will generate a mound of tax revenue for state governments starved for cash. As legal weed marks a decade, the data tells a much different tale.

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This trend is not unique to Colorado, as marijuana accounts for a nearly negligible share of budgets in states across the nation and is outweighed by numerous costs.

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Former Colorado Gov. John Hickenlooper deserves credit for his honesty a decade ago when he described marijuana tax revenue as “a drop in the bucket,” adding that “it’s not going to pay for early childhood education or solve any social ill.” His candor was drowned out by the industry’s promises of a windfall.”

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Debunking the myth: Every dollar of marijuana tax revenue is associated with $4.50 in costs - Washington Times