Of course they will make money, that is the business of government, to make money. I can't remember what state it was that recently passed some sort of legalization on marijuana, but they had the taxes so high on it that it no effect on the illegal transactions with the drug dealers, and some reports were that the illegal drug dealers were actually doing more business because the criminal penalties had gone away if you got caught with it.
So what they thought would reduce drug trafficking, actually had the opposite effect.