Global X ETFs Survey: U.S. Opinions on Recreational Cannabis

In May 2021, we surveyed 557 U.S. respondents regarding their opinions towards recreational cannabis. 2020 was a landmark year for the state-level cannabis industry in the U.S. and 2021 is shaping up to be one as well. 7 states have legalized recreational, or adult-use, cannabis, since last November, bringing the total to 18 plus Washington, D.C., though it remains federally illegal. We believe that the U.S. cannabis market is at an inflection point where continued state legalization will further accelerate sales and help cannabis companies get their footing in advance of potential federal legalization.

Key Takeaways

  • A majority of Americans support legalizing cannabis on the federal level in the U.S.
  • Older millennials & younger gen-Xers support federal legalization, followed by gen-Z & older demographics
  • Positive attitudes toward the federal legalization of recreational cannabis have increased in recent years
  • More Americans plan on increasing their recreational cannabis use than those who plan on decreasing use
  • Gen X & baby boomers plan on increasing recreational cannabis use as they approach retirement years
  • Americans prefer legalizing & taxing cannabis to generate state tax revenues over alternative options
  • Central states most prefer legalizing & taxing cannabis for state revenue, Southern states show least support
  • A majority of Americans believe cannabis should be taxed similarly to alcohol/tobacco
  • Those in support of legal federal cannabis believe it should be taxed similarly or less than tobacco/alcohol

Click here to download the Global X ETFs Survey on U.S. Opinions on Recreational Cannabis