  Non-relativistic ABJM theory is defined by Galilean limit of mass-deformed
N=6 Chern-Simons theory. Holographic string theory dual to the theory is not
known yet. To understand features candidate gravity dual might exhibit, we
examine local and nonlocal physical observables and their correlations in the
non-relativistic ABJM theory. We show that gauge invariant local observables
correspond to zero-norm states and that correlation functions among them are
trivial. We also show that a particular class of nonlocal observables, Wilson
loops, are topological in the sense that their correlation functions coincide
with those of pure Chern-Simons theory. We argue that the theory is
nevertheless physical and illustrate several physical observables whose
correlation functions are nontrivial. We also study quantum aspects. We show
that Chern-Simons level is finitely renormalized and that dilatation operator
acting on spin chain is trivial at planar limit. These results all point to
string scale geometry of gravity dual and to intriguing topological and
tensionless nature of dual string defined on it.
