America spends hundreds of millions of dollars annually fighting a war on drugs and prostitution thanks to the "war on drugs." It’s estimated that $480 billion is illegally gambled on sports every year. According to some estimates, if these vices were legalized and taxed, the United States could generate $100 billion in annual tax revenue. It's not quite enough to balance the budget, but it could have a big an impact on the national bottom line.
We explore both sides of the story, examining the possibilities and pitfalls that legalization would bring about. We’ll look at other countries where legalization has occurred, like Portugal, and assess the results.