In the USA, yes. For example, the unanimous ruling in Campbell v. Acuff-Rose Music, Inc. determined that parody is fair use, even if the parody is of a commercial nature:
Held: 2 Live Crew's commercial parody may be a fair use within the meaning of § 107. Pp. 574-594.
The ruling states explicitly that commercial usage can be a determining factor in determining whether usage is fair or not, but that it does not in and of itself make the use "unfair".
Comments
In the USA, yes. For example, the unanimous ruling in Campbell v. Acuff-Rose Music, Inc. determined that parody is fair use, even if the parody is of a commercial nature:
The ruling states explicitly that commercial usage can be a determining factor in determining whether usage is fair or not, but that it does not in and of itself make the use "unfair".
https://supreme.justia.com/cases/federal/us/510/569/