diff --git a/eth_utils/address.py b/eth_utils/address.py
index df77241..3407e70 100644
--- a/eth_utils/address.py
+++ b/eth_utils/address.py
@@ -59,12 +59,7 @@ def is_address(value: Any) -> bool:
     """
     Is the given string an address in any of the known formats?
     """
-    if is_hex_address(value):
-        if _is_checksum_formatted(value):
-            return is_checksum_address(value)
-        return True
-
-    if is_binary_address(value):
+    if is_hex_address(value) or is_binary_address(value):
         return True
 
     return False
diff --git a/newsfragments/265.breaking.rst b/newsfragments/265.breaking.rst
new file mode 100644
index 0000000..a1f708c
--- /dev/null
+++ b/newsfragments/265.breaking.rst
@@ -0,0 +1,1 @@
+`Web3.is_address` now returns True for non-checksummed addresses.

diff --git a/tests/address-utils/test_address_utils.py b/tests/address-utils/test_address_utils.py
index fb8d852..56f4f64 100644
--- a/tests/address-utils/test_address_utils.py
+++ b/tests/address-utils/test_address_utils.py
@@ -35,8 +35,8 @@ from eth_utils.address import (
         # checksummed - valid
         ("0x5B2063246F2191f18F2675ceDB8b28102e957458", True, True, False),
         (b"0x5B2063246F2191f18F2675ceDB8b28102e957458", False, False, False),
+        ("0x5b2063246F2191f18F2675ceDB8b28102e957458", True, True, False),
         # checksummed - invalid
-        ("0x5b2063246F2191f18F2675ceDB8b28102e957458", False, True, False),
         (b"0x5b2063246F2191f18F2675ceDB8b28102e957458", False, False, False),
         # too short - unprefixed
         ("c6d9d2cd449a754c494264e1809c50e34d64562", False, False, False),

Update `is_address` logic
For less confusion, `is_address` should have less strict of a check on checksums. See conversation [here](https://github.com/ethereum/web3.py/issues/715).
tests/address-utils/test_address_utils.py::test_is_address[0x5b2063246F2191f18F2675ceDB8b28102e957458-True-True-False]
tests/address-utils/test_address_utils.py::test_is_address[<lambda>-False-False-False] tests/address-utils/test_address_utils.py::test_is_address[args1-False-False-False] tests/address-utils/test_address_utils.py::test_is_address[function-False-False-False0] tests/address-utils/test_address_utils.py::test_is_address[function-False-False-False1] tests/address-utils/test_address_utils.py::test_is_address[0x0000000000000000000000000000000000000000-True-True-False] tests/address-utils/test_address_utils.py::test_is_address[0x0000000000000000000000000000000000000000-False-False-False] tests/address-utils/test_address_utils.py::test_is_address[0xc6d9d2cd449a754c494264e1809c50e34d64562b-True-True-False] tests/address-utils/test_address_utils.py::test_is_address[0xc6d9d2cd449a754c494264e1809c50e34d64562b-False-False-False] tests/address-utils/test_address_utils.py::test_is_address[c6d9d2cd449a754c494264e1809c50e34d64562b-True-True-False] tests/address-utils/test_address_utils.py::test_is_address[c6d9d2cd449a754c494264e1809c50e34d64562b-False-False-False] tests/address-utils/test_address_utils.py::test_is_address[0x5B2063246F2191f18F2675ceDB8b28102e957458-True-True-False] tests/address-utils/test_address_utils.py::test_is_address[0x5B2063246F2191f18F2675ceDB8b28102e957458-False-False-False] tests/address-utils/test_address_utils.py::test_is_address[0x5b2063246F2191f18F2675ceDB8b28102e957458-False-False-False] tests/address-utils/test_address_utils.py::test_is_address[c6d9d2cd449a754c494264e1809c50e34d64562-False-False-False0] tests/address-utils/test_address_utils.py::test_is_address[c6d9d2cd449a754c494264e1809c50e34d64562-False-False-False1] tests/address-utils/test_address_utils.py::test_is_address[0xc6d9d2cd449a754c494264e1809c50e34d64562-False-False-False0] tests/address-utils/test_address_utils.py::test_is_address[0xc6d9d2cd449a754c494264e1809c50e34d64562-False-False-False1] tests/address-utils/test_address_utils.py::test_is_address[0xc6d9d2cd449a754c494264e1809c50e34d64562bc-False-False-False0] tests/address-utils/test_address_utils.py::test_is_address[0xc6d9d2cd449a754c494264e1809c50e34d64562bc-False-False-False1] tests/address-utils/test_address_utils.py::test_is_address[c6d9d2cd449a754c494264e1809c50e34d64562bc-False-False-False0] tests/address-utils/test_address_utils.py::test_is_address[c6d9d2cd449a754c494264e1809c50e34d64562bc-False-False-False1] tests/address-utils/test_address_utils.py::test_is_address[\xd3\xcd\xa9\x13\xde\xb6\xf6yg\xb9\x9dg\xac\xdf\xa1q,)6\x01-False-False-False] tests/address-utils/test_address_utils.py::test_is_address[\xd3\xcd\xa9\x13\xde\xb6\xf6yg\xb9\x9dg\xac\xdf\xa1q,)6\x01-True-False-True] tests/address-utils/test_address_utils.py::test_is_address[0x0000000000000000000000000000000000000000000000000000000000000000-False-False-False0] tests/address-utils/test_address_utils.py::test_is_address[0x0000000000000000000000000000000000000000000000000000000000000000-False-False-False1] tests/address-utils/test_address_utils.py::test_is_address[\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00\x00-False-False-False] tests/address-utils/test_address_utils.py::test_is_address[0xc6d9d2cd449a754c494264e1809c50e34d6456-False-False-False] tests/address-utils/test_address_utils.py::test_is_address[0xc6d9d2cd449a754c494264e1809c50e34d64562-False-False-False2] tests/address-utils/test_address_utils.py::test_is_address[0xc6d9d2cd449a754c494264e1809c50e34d64562-False-False-False3] tests/address-utils/test_address_utils.py::test_is_address[66756e6374696f6e-False-False-False] tests/address-utils/test_address_utils.py::test_is_address[307830303030303030303030303030303030303030303030303030303030303030303030303030303030-False-False-False] tests/address-utils/test_address_utils.py::test_is_address[307863366439643263643434396137353463343934323634653138303963353065333464363435363262-False-False-False] tests/address-utils/test_address_utils.py::test_is_checksum_address[0x52908400098527886E0F7030069857D2E4169EE7-True] tests/address-utils/test_address_utils.py::test_is_checksum_address[0x8617E340B3D01FA5F11F306F4090FD50E238070D-True] tests/address-utils/test_address_utils.py::test_is_checksum_address[0xde709f2102306220921060314715629080e2fb77-True] tests/address-utils/test_address_utils.py::test_is_checksum_address[0x27b1fdb04752bbc536007a920d24acb045561c26-True] tests/address-utils/test_address_utils.py::test_is_checksum_address[0x5aAeb6053F3E94C9b9A09f33669435E7Ef1BeAed-True] tests/address-utils/test_address_utils.py::test_is_checksum_address[0xfB6916095ca1df60bB79Ce92cE3Ea74c37c5d359-True] tests/address-utils/test_address_utils.py::test_is_checksum_address[0xdbF03B407c01E7cD3CBea99509d93f8DDDC8C6FB-True] tests/address-utils/test_address_utils.py::test_is_checksum_address[0xD1220A0cf47c7B9Be7A2E6BA89F429762e7b9aDb-True] tests/address-utils/test_address_utils.py::test_is_checksum_address[0xd3cda913deb6f67967b99d67acdfa1712c293601-False] tests/address-utils/test_address_utils.py::test_is_checksum_address[0xD3CDA913DEB6F67967B99D67ACDFA1712C293601-False] tests/address-utils/test_address_utils.py::test_is_checksum_address[0XD1220A0CF47C7B9BE7A2E6BA89F429762E7B9ADB-False] tests/address-utils/test_address_utils.py::test_is_checksum_address[0xd1220a0cf47c7b9be7a2e6ba89f429762e7b9adb-False0] tests/address-utils/test_address_utils.py::test_is_checksum_address[0x52908400098527886E0F7030069857D2E4169EE7-False] tests/address-utils/test_address_utils.py::test_is_checksum_address[0xd1220a0cf47c7b9be7a2e6ba89f429762e7b9adb-False1] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0x5aAeb6053F3E94C9b9A09f33669435E7Ef1BeAed-True] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0xd3CdA913deB6f67967B99D67aCDFa1712C293601-True] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0xfB6916095ca1df60bB79Ce92cE3Ea74c37c5d359-True] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0xdbF03B407c01E7cD3CBea99509d93f8DDDC8C6FB-True] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0xD1220A0cf47c7B9Be7A2E6BA89F429762e7b9aDb-True] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0x52908400098527886E0F7030069857D2E4169EE7-False] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0x8617E340B3D01FA5F11F306F4090FD50E238070D-False] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0xde709f2102306220921060314715629080e2fb77-False] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0x27b1fdb04752bbc536007a920d24acb045561c26-False] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0XD1220A0CF47C7B9BE7A2E6BA89F429762E7B9ADB-False0] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0xd1220a0cf47c7b9be7a2e6ba89f429762e7b9adb-False0] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0x5aAeb6053F3E94C9b9A09f33669435E7Ef1BeAed-False] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0XD1220A0CF47C7B9BE7A2E6BA89F429762E7B9ADB-False1] tests/address-utils/test_address_utils.py::test_is_checksum_formatted_address[0xd1220a0cf47c7b9be7a2e6ba89f429762e7b9adb-False1] tests/address-utils/test_address_utils.py::test_is_normalized_address[<lambda>-False] tests/address-utils/test_address_utils.py::test_is_normalized_address[function-False] tests/address-utils/test_address_utils.py::test_is_normalized_address[value2-False] tests/address-utils/test_address_utils.py::test_is_normalized_address[0xc6d9d2cd449a754c494264e1809c50e34d64562b-False] tests/address-utils/test_address_utils.py::test_is_normalized_address[c6d9d2cd449a754c494264e1809c50e34d64562b-False0] tests/address-utils/test_address_utils.py::test_is_normalized_address[0xd3cda913deb6f67967b99d67acdfa1712c293601-False] tests/address-utils/test_address_utils.py::test_is_normalized_address[307863366439643263643434396137353463343934323634653138303963353065333464363435363262-False] tests/address-utils/test_address_utils.py::test_is_normalized_address[63366439643263643434396137353463343934323634653138303963353065333464363435363262-False] tests/address-utils/test_address_utils.py::test_is_normalized_address[307864336364613931336465623666363739363762393964363761636466613137313263323933363031-False] tests/address-utils/test_address_utils.py::test_is_normalized_address[0xc6d9d2cd449a754c494264e1809c50e34d64562b-True] tests/address-utils/test_address_utils.py::test_is_normalized_address[c6d9d2cd449a754c494264e1809c50e34d64562b-False1] tests/address-utils/test_address_utils.py::test_is_normalized_address[0xd3cda913deb6f67967b99d67acdfa1712c293601-True] tests/address-utils/test_address_utils.py::test_is_normalized_address[0xd3CdA913deB6f67967B99D67aCDFa1712C293601-False] tests/address-utils/test_address_utils.py::test_is_normalized_address[0xD3CDA913DEB6F67967B99D67ACDFA1712C293601-False] tests/address-utils/test_address_utils.py::test_is_normalized_address[0xde709f2102306220921060314715629080e2fb77-True] tests/address-utils/test_address_utils.py::test_to_normalized_address[0xc6d9d2cd449a754c494264e1809c50e34d64562b-0xc6d9d2cd449a754c494264e1809c50e34d64562b] tests/address-utils/test_address_utils.py::test_to_normalized_address[0XC6D9D2CD449A754C494264E1809C50E34D64562B-0xc6d9d2cd449a754c494264e1809c50e34d64562b] tests/address-utils/test_address_utils.py::test_to_normalized_address[C6D9D2CD449A754C494264E1809C50E34D64562B-0xc6d9d2cd449a754c494264e1809c50e34d64562b] tests/address-utils/test_address_utils.py::test_to_checksum_address[0xd3cda913deb6f67967b99d67acdfa1712c293601-0xd3CdA913deB6f67967B99D67aCDFa1712C293601] tests/address-utils/test_address_utils.py::test_to_checksum_address[0xD3CDA913DEB6F67967B99D67ACDFA1712C293601-0xd3CdA913deB6f67967B99D67aCDFa1712C293601] tests/address-utils/test_address_utils.py::test_to_checksum_address[0xd3CdA913deB6f67967B99D67aCDFa1712C293601-0xd3CdA913deB6f67967B99D67aCDFa1712C293601] tests/address-utils/test_address_utils.py::test_to_checksum_address[\xd3\xcd\xa9\x13\xde\xb6\xf6yg\xb9\x9dg\xac\xdf\xa1q,)6\x01-0xd3CdA913deB6f67967B99D67aCDFa1712C293601] tests/address-utils/test_address_utils.py::test_to_checksum_address[0xc6d9d2cd449a754c494264e1809c50e34d64562b-0xc6d9d2cD449A754c494264e1809c50e34D64562b] tests/address-utils/test_address_utils.py::test_to_checksum_address[c6d9d2cd449a754c494264e1809c50e34d64562b-0xc6d9d2cD449A754c494264e1809c50e34D64562b] tests/address-utils/test_address_utils.py::test_to_checksum_address[\xc6\xd9\xd2\xcdD\x9auLIBd\xe1\x80\x9cP\xe3MdV+-0xc6d9d2cD449A754c494264e1809c50e34D64562b] tests/address-utils/test_address_utils.py::test_is_same_address[0xc6d9d2cd449a754c494264e1809c50e34d64562b-0xc6d9d2cD449A754c494264e1809c50e34D64562b-True] tests/address-utils/test_address_utils.py::test_is_same_address[c6d9d2cd449a754c494264e1809c50e34d64562b-0xc6d9d2cD449A754c494264e1809c50e34D64562b-True] tests/address-utils/test_address_utils.py::test_is_same_address[0xc6d9d2cd449a754c494264e1809c50e34d64562b-0xc305c901078781c232a2a521c2af7980f8385ee9-False] tests/address-utils/test_address_utils.py::test_is_same_address[C6D9D2CD449A754C494264E1809C50E34D64562B-0xc6d9d2cd449a754c494264e1809c50e34d64562b-True] tests/address-utils/test_address_utils.py::test_to_canonical_address[0xd3cda913deb6f67967b99d67acdfa1712c293601-\xd3\xcd\xa9\x13\xde\xb6\xf6yg\xb9\x9dg\xac\xdf\xa1q,)6\x01] tests/address-utils/test_address_utils.py::test_to_canonical_address[0xD3CDA913DEB6F67967B99D67ACDFA1712C293601-\xd3\xcd\xa9\x13\xde\xb6\xf6yg\xb9\x9dg\xac\xdf\xa1q,)6\x01] tests/address-utils/test_address_utils.py::test_to_canonical_address[\xd3\xcd\xa9\x13\xde\xb6\xf6yg\xb9\x9dg\xac\xdf\xa1q,)6\x01-\xd3\xcd\xa9\x13\xde\xb6\xf6yg\xb9\x9dg\xac\xdf\xa1q,)6\x01] tests/address-utils/test_address_utils.py::test_is_canonical_address[\xd3\xcd\xa9\x13\xde\xb6\xf6yg\xb9\x9dg\xac\xdf\xa1q,)6\x01-False] tests/address-utils/test_address_utils.py::test_is_canonical_address[\xd3\xcd\xa9\x13\xde\xb6\xf6yg\xb9\x9dg\xac\xdf\xa1q,)6\x02-True] tests/address-utils/test_address_utils.py::test_is_canonical_address[0xd3cda913deb6f67967b99d67acdfa1712c293601-False0] tests/address-utils/test_address_utils.py::test_is_canonical_address[0xd3cda913deb6f67967b99d67acdfa1712c293601-False1]