This study uses a basket-based choice experiment with 2,010 U.S. adults to analyze alcohol and cannabis preferences in social settings following cannabis legalization. Through descriptive statistics and multivariate logistic modeling, we highlight the heterogeneous preferences consumers have for alcohol and cannabis products. Specifically, we demonstrate that a substantial portion of the survey respondents prefer to consume these substances together in social settings, while others view them as independent markets. Regression analysis then reveals that males and younger consumers are most likely to bundle these substances, while personality traits also correlate with expected simultaneous substance use. These results offer valuable insights to improve public health policy and messaging on the potential short- and long-term risks associated with cosubstance use.