New Poll Reveals Most Marijuana Consumers Plan to Spend More or the Same on Cannabis in 2025
A recent poll conducted by Bankrate and YouGov has found that nearly 7 in 10 American marijuana consumers plan to spend either more or the same amount on cannabis products in 2025 compared to last year. The survey also revealed that 62% of respondents use cash to pay for marijuana, which is significantly higher than the 42% who use cash for alcohol.
The poll found that 28% of respondents reported spending on marijuana products, which is lower than the percentage of those who spend on other vices such as alcohol (66%) and lottery tickets (64%). However, millennials aged 29-44 were the most likely to buy marijuana, with 35% of respondents in this age group reporting that they spend on cannabis products.
The survey also found that 68% of cannabis consumers plan to pay more or the same amount on marijuana products in 2025, with 21% of respondents anticipating spending more on marijuana this year. This is higher than the percentage of those who buy tobacco and alcohol, and is comparable to the percentage of those who purchase lottery tickets.
Bankrate Senior Industry Analyst Ted Rossman noted that while it’s okay to have some fun and engage in the occasional splurge, it’s important to do so within the constraints of a solid budget. He emphasized the importance of setting aside some fun money, but also prioritizing saving for a rainy day and paying down high-cost debt.
The high percentage of cash-paying marijuana consumers is attributed to policy issues related to the industry’s financial services access problem. Because cannabis remains federally illegal, many banks are reluctant to service state-licensed marijuana businesses, limiting the types of payments the industry can receive.
The survey also found that 7% of vice consumers report incurring debt from their marijuana purchases, which is lower than the percentage of those who report debt from other vices such as sports betting (10%), alcohol (8%), and tobacco (7%).
The results of the survey align with an increasing body of scientific research indicating that consumer trends are shifting as the state-level legalization movement spreads and more adults are able to lawfully access marijuana products at licensed retailers. A recent study found that young adults are nearly three times more likely to use marijuana than alcohol on a daily or near-daily basis, and another study found that there are more U.S. adults who use marijuana daily than who drink alcohol every day.
