Welcome to my latest Weed Report. The article below is a condensed transcript.

Many people don’t realize that The Beatles’ 1966 song Got to Get You Into My Life isn’t about an infatuation with a girl. Instead, it’s about the Fab Four’s love affair with marijuana.

After trying marijuana for the first time, the Liverpudlians were immediately smitten with the substance. Hence their love song to Mary Jane. Fast-forward to 2022 and the vast majority of Americans increasingly feel the same way.

Here’s a roundup of the latest national polling data over marijuana. These surveys were taken in late 2021:

YouGov: 57% of U.S. adults, including majorities of those in every age demographic, think that “the recreational use of marijuana should be made legal in the United States.”

Rasmussen: 62% of U.S. adults, including majorities of Democrats, Independents, and Republicans, favor the national legalization of marijuana.

Gallup: 68% of Americans, including majorities of all major subgroups by gender, age, income and education, believe that the use of “marijuana should be made legal.”

Harris: 66% of U.S. adults say that the use of cannabis by adults ought to be legalized federally. Support rises to 79% among millennials and to 76% among those in Generation X.

Gallup: The percentage of U.S. adults who say they have tried marijuana has ticked up to 49%, the highest Gallup has measured to date.

Digital Third Coast: 92% of US adults believe that marijuana “should be made legal” for either medical or recreational purposes.

Pew Research Center: 91% of U.S. adults say that marijuana should be legal either for medical or adult-use purposes. Only 8% of adults favor its continued criminalization.

The Hill: A plurality of Democrats and independents support legalizing marijuana across the country, at 48% and 38%, respectively.

Read This Story: In New Opinion Poll, America Sides With Weed Over Alcohol

Banks embrace marijuana…

The number of banks that report working with marijuana businesses climbed again near the end of 2021, according to new U.S. government data.

Figures from the Financial Crimes Enforcement Network (FinCEN) show that financial institutions increasingly feel more comfortable offering services to pot businesses in state-legal markets (see chart).

Source: FinCEN

As of September 30, 2021, 755 banks and credit unions had filed mandatory reports attesting to the fact that they were actively serving cannabis clients. That’s up from 706 in the previous quarter and from a previous peak of 747 in late 2019.

The U.S. House already has passed the Secure and Fair Enforcement (SAFE) Banking Act, which is designed to protect banks that accept marijuana business clients from being penalized by federal regulators. Marijuana is big business, but it’s still banned at the federal level, a stubborn obstacle that gives many bankers pause.

The SAFE Banking Act still requires the approval of the U.S. Senate and President Biden to become law, but the trend is clear: banks are eager for the “normalization” of marijuana.

Despite sometimes harsh rhetoric from anti-marijuana lawmakers, legalization and commercialization of marijuana will roll on (so to speak). Mainstream consumer companies that are household names are forging alliances with fledgling pot outfits.

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John Persinos is the editor-in-chief of Marijuana Investing Daily.

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