Coca-Cola executives have announced that they are closely watching the CBD-infused drinks market. CNN has reported that the soft-drink company has been holding talks with the Canadian company Aurora Cannabis Inc. Coke spokesman Kent Landers acknowledged that they were monitoring the use of CBD in health beverages, but said the company has made no decisions in using it in Coke products.

CBD has been used for medicinal purposes, such as pain and nausea relief.

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CBD is the chemical found in the marijuana plant. It doesn't produce the high that comes from THC. Coca-Cola assured buyers that they will not be getting stoned off their drinks.

Coca-Cola and Aurora talks not confirmed but stocks soaring

Talks between Coca-Cola and Aurora have not been confirmed. However, Aurora's stocks skyrocketed in value as the news broke, jumping nearly 23 percent. If the deal is confirmed, this would make Coke the first entry into the non-alcoholic beverages into the market for cannabis-related products.

CBD-infused drinks have become popular across the country, as well as in Canada. One brewery in Portland has already developed two CBD-infused beverages. Other U.S. companies have formed partnerships to further research into potential CBD-infused beverages. Constellation Brands, the maker of Corona has invested $4 billion into Canopy Growth.

While cannabis and CBD are legal in some states, it's still illegal in the U.S. under federal law.

However, the prohibition against CBD is not enforced. Even New York City police have stopped arresting people for marijuana use [VIDEO]. Many third-party sellers are even selling CBD-based products [VIDEO] on Amazon.

Doubtful Coca-Cola would develop product until federal laws change

TechCrunch even has doubts that Coke would develop a CBD-infused beverage before federal law is changed. While CBD and marijuana use is completely legal in Canada, it's unlikely they would develop a drink just for the 35 million people in Canada.

If Coca-Cola goes through with this plan, it could potentially corner the market, once CBD and other marijuana-infused products are made legal. CNN says that the CBD-infused drinks could turn into a $50 billion annual market. Coke and its rival Pepsico have been attempting to expand their offerings, as people are turning away from the sugary sodas. It's going to take some time before it will be worth their time, it does not appear that federal law will be changing anytime soon.