While the market for CBD and THC products is expanding, less is known about who uses the various cannabis-derived products, their reasons for use, and their product preferences. We surveyed 963 U.S. adults and used market segmentation based on self-reported consumption to understand demand. Results suggest that age, subjective knowledge, and regulatory preferences were associated with general cannabis usage, with gender also associated with THC use. We also detected differences in reasons for product use and product preferences amongst CBD and THC users. Thus, while the CBD and THC markets were similar in certain ways, some differences merit further exploration.