Yes, I think so. It certainly happened
in Colorado following the legalization of cannabis consumption. When any drug or substance is not merely decriminalized, but legalized (i.e., allowing for people to openly advertise the sale and use of these drugs) I think more people will be subject to the pressure of their peers to engage in its use as a rite of passage, to fit in, and of course for simple curiosity as well as for the sheer pleasure of consuming the drug. And now young people who would otherwise be ambivalent about using the drug but do not want to be on the outs with their peers will not even have the excuse "I don't think so; I don't want to get in trouble" to lean on. It is the same with alcohol, in that young men and women are pressured by their peers (and sometimes their families) to engage in its consumption as their rite of passage into adulthood.
That is just speculation on my part, but I think there is some evidence to support it. When any drug is legalized and companies can advertise heavily to the public, whether it is alcohol, cigarettes or other drugs, its use will almost certainly increase.