Cannabis is the most popular psychoactive substance under international regulations, with more than 192 million users worldwide. It has been associated with an addictive pattern of use and negative social and health-related outcomes in a subgroup of users. Consequently, understanding the individual differences that contribute to cannabis use and problematic use is of much importance. The current study examined the impact of impulsivity traits (negative urgency, positive urgency, lack of premeditation, lack of perseverance, sensation seeking), delay reward discounting, and depressive mood on cannabis use status during the past 6 months as well as problematic use of cannabis in a representative sample of 635 French-speaking Swiss young men recruited during their conscription in a Swiss national military recruitment center. Binary logistic and multiple linear regressions indicated that cannabis use status was significantly associated with greater depressive mood, elevated sensation seeking, and lack of perseverance, whereas problematic cannabis use was significantly related to higher depressive mood and steeper delay reward discounting. The present study highlights the importance of emotional symptoms in cannabis use and misuse. Our results also shed light on the potential psychological processes related to problematic consumption of cannabis and open avenues for preventive actions and psychological interventions that target problematic use of cannabis.