Medical cannabis (MC) has become a popular treatment option for the management of chronic pain, and is a safer alternative to commonly prescribed opioid medications. However, it is not clear what exactly makes MC effective as a pain medication. Existing literature suggests that MC acts in a holistic manner, affecting the pain experience beyond just reducing pain intensity. Holistic dimensions of the pain medication experience were herein assessed via an online questionnaire and reduced to three factors in a factor analysis. Effect sizes for these factors were compared between chronic pain patients in Finland and the United States who reported about their experiences with either MC or opioid treatment (N = 343). MC was found to have a greater effect on Emotional and Holistic factors, and a lesser effect on the Negative effects factor. In conclusion, MC is perceived to more positively affect the pain experience, improving both emotional and holistic aspects to a greater extent than do opioids, while causing less experienced negative effects.