The U.S. Supreme Court ruled that parody trademarks do not receive special First Amendment protection if they function as trademarks. In the case of Jack Daniel's Properties, Inc. v. VIP Products LLC, the Court determined that the usual likelihood of confusion standard applies to claims involving parody marks used as source indicators.
https://www.jdsupra.com/legalnews/u-s-supreme-court-holds-parody-8415925/
https://www.jdsupra.com/legalnews/u-s-supreme-court-holds-parody-8415925/