I got mine wet and it worked after a shot of WD-40, but that does not mean all that get wet will work after wards, I just got lucky.
I assume you have tried disconnect the kill switch just for the heck of it? And you have tested for spark?
If you have a OHM meter you can check the CDI and Mag.
No Spark...Wiring CDI/Mag/Kill Switch Mess
CDI pack GOOD Mine
Black to Blue 1150kΩ 7.6 meg Ω
Black to Plug 2.6kΩ 2.17K Ω
Blue to Plug 1150kΩ OPEN
Magneto
Blue to White 327Ω 349Ω
Black to Blue 327Ω 347Ω
Black to White 2.1Ω 2.1Ω
Black to Gnd 0Ω 0.3Ω
Blue to Gnd 327Ω 347Ω
White to Gnd 2.1Ω 2.3Ω