9.3.25 - The Pulse of the Nation: Why 65% Support for Legalizing Adult-Use Cannabis Signals More Than Just Shifting Opinions
09.03.2025
By Alan Gaul, VP., Marketing & Brand, TASI Bank
There’s a new milestone in how Americans feel about adult-use cannabis: according to an Emerson College poll published August 29, 65% of U.S. voters believe that legalizing cannabis nationwide is a good idea. That’s up five points from a similar poll just last October, which showed 60% in favor.
At first glance, the numbers are striking—but when you dig deeper, they say more than just “support is rising.” They point to shifting demographics, political opportunity, and possible implications for businesses and investments.
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Key Findings at a Glance
• 65% in favor vs. 45% opposed — although the poll report (as often happens) has an apparent arithmetic discrepancy (these add to 110%), the gist is clear: an overwhelming majority is now in favor.
• Age matters: All age groups say yes—except voters over 70, who are narrowly opposed (52% against vs. 48% in favor).
• Support highest in younger cohorts:
• Under-30 voters: 71% favor
• Voters in their 40s: 74% favor
Notably, support among under-30s declined from ~78% in October, while support among those in their 40s has increased.
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What This Means (Especially for Finance & Business)
From where I sit at TASI Bank, watching both markets and policy, these trends suggest several things worth paying attention to:
1. Regulatory headwinds may ease
As public opinion continues climbing past the 60% mark, it becomes harder for legislative bodies—state and federal—to resist reforms. Proposals to legalize, regulate, and tax cannabis may find broader support, or at least less resistance.
2. New markets & investment zones
Legalization doesn’t just change laws—it unlocks legitimate business opportunities: cultivation, retail, ancillary industries (software, logistics, finance). Companies that position themselves now may gain first-mover advantage as regulations solidify.
3. Financial services will need to adapt
Banking, insurance, financing—all sectors that often lag behind policy change—will be pushed toward accommodating this shift. The risk profile, compliance requirements, and capital allocation strategies tied to cannabis-related business will become much more central.
4. Voter demographics may shift political priorities
Younger age groups are more aligned with legalization. For politicians and policymakers, that makes cannabis reform not just a question of justice or policy, but also of political calculus.
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Possible Risks & Considerations
• Regulatory patchwork: Even if federal legalization passes, the path will likely be uneven across states. Differences in licensing, taxation, and allowed usage could lead to complexity for business entities operating in multiple states.
• Public health & safety concerns: While many favor legalization, questions remain about regulation, age restrictions, impairment laws, etc. These will be front and center for both advocates and opponents.
• Investment risk amid uncertainty: Until laws are crystal‐clear, and federal enforcement policies settle, there’s risk for those entering the market early.
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Bottom Line
This Emerson College poll tells us that legalization is no longer a fringe issue—not in public opinion, and not in the minds of investors, regulators, and businesses. The trend is real, and the momentum is growing.
For TASI Bank (and institutions like ours), that means it’s time to monitor, prepare, and if appropriate, position. Because when 65% of your customers believe something is a “good idea,” it’s hard to ignore—and it’s rarely wrong to pay attention.
