jefferies analyst pablo zuanic said friday its unclear whether new york states potential 9 billion legal cannabis market will provide a significant source of upside for larger cannabis companies such as curaleaf holdings inc curlf  green thumb industries inc gtbif and columbia care inc cchwf  which is being acquired by cresco labs inc crlbf  the states office of cannabis management on thursday started accepting application for the first 150 cannabis retail licenses zuanic said multistate cannabis operators will be required to pay 20 million to help fund a 200 million state fund to help finance the first licensees which will be made up of people who have been jailed or harmed by the war on drugs its not yet been determined which of the eight license types that medical cannabis incumbents will get zuanic said for an established medical registered organization at this stage it is not clear to what they will be grandfathered just cultivators and let others do processing as well as wholesale distribution zuanic said ascend wellness holdings inc aawh said earlier this week the new york market is not a priority currently and scrapped its acquisition of medmens mmnff and green thumb industries gtbif has sounded bearish on new york although its building a large cultivation facility in the state zuanic said cresco labs has sounded more upbeat due to the wholesale upside but only if they can play in a profitable and scalable manner but we are not sure this is known at this stage zuanic said