Revenue from legalized pot makes up just a small portion of state revenue, even in the states with the most mature markets - about 2 percent in Colorado and a little over 1 percent in Washington, according to a May report from Moody’s Investors Service. “My main purpose is to take something that’s currently being done illegally and get some tax revenue from it.” “I keep telling them this is not like a craps table or a slot machine,” said Mark Sickles, a Democratic state lawmaker in Virginia who has sponsored a bill that would place a 15 percent tax on sports betting in the state. Legalizing it would allow states to impose regulations and take in at least some money. ![]() As with marijuana, lawmakers say they are motivated in large part because sports betting has been a black market activity outside Nevada.
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