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A marijuana festival in Berlin. Photo: Carsten Koall/Getty Images

The markets punished Tesla on Friday when CEO Elon Musk smoked pot on camera with comedian Joe Rogan, but some of the world's largest companies are aggressively embracing the green.

What's going on: As alcohol consumption around the world keeps falling, big distillers and brewers are putting their money into cannabis-infused, non-alcoholic cocktails.

The bigger picture: The world is drinking less alcohol — and that's in part due to the rise of legal weed. Alcohol consumption fell 15% between 2006 and 2015 in U.S. states offering medical marijuana licenses, according to a study by researchers from the University of Connecticut, Georgia State University and Universidad del Pacifico in Lima, Peru.

The latest: A string of deals between alcohol companies and cannabis companies illustrate the next big thing in beverages, per CB Insights' Anand Sanwal.

  • Constellation Brands, an American beer, wine and spirits company, is pouring $4 billion into cannabis company Canopy Growth.
  • Heineken’s subsidiary Lagunitas is out with weed-infused sparkling water — a collaboration with AbsoluteXtracts, another cannabis company.
  • Big-time brewer MolsonCoors is linking up with The Hydropothecary Corporation to roll out cannabis-infused drinks.
  • Diageo, the drinks giant behind Smirnoff vodka and Guinness beer, may collaborate with a Canadian cannabis company, per Bloomberg.

Go deeper

8 mins ago - Sports

Simone Biles won't compete in individual vault or uneven bars Olympic finals

Photo: Fred Lee via Getty Images

Simone Biles will not compete in the individual vault or uneven bars finals at the Tokyo Olympics, USA Gymnastics announced Friday.

Why it matters: Biles drew global attention after stepping out of the individual all-around and team finals to prioritize her mental health. It's unclear if she will compete in the balance beam or floor exercise events.

9 mins ago - Sports

Caeleb Dressel breaks world record in men's 100m butterfly, wins 3rd gold in Tokyo

Photo: Jean Catuffe/Getty Images

American swimmer Caeleb Dressel broke the world record in the men's 100-meter butterfly final in Tokyo on Saturday, picking up his third gold medal of this year's Games.

The big picture: Hungary's Kristóf Milák won the silver, and Switzerland's Noe Ponti took the bronze.

Updated 3 hours ago - Health

DeSantis issues order barring Florida schools from mandating masks

Photo: Michael Reaves via Getty Images

Florida Gov. Ron DeSantis (R) on Friday issued an executive order that bars local school districts from requiring students to wear masks when they return to the classroom next month.

Why it matters: The spread of the Delta variant has led to a spike in new infections across the United States, triggering another round of debate about COVID guidelines in schools.