Plenty of entrepreneurs are showing interest in opening medical marijuana businesses in Missouri, a market that experts predict could be favorable to cannabis commerce.

The Missouri health department said it has received more than 250 forms and over $2 million in application fees in the first week of accepting applications from those seeking to grow or distribute medical marijuana.

constitutional amendment that allows medical marijuana sales in the state.

The Missouri Department of Health and Senior Services is still formulating rules to regulate the new industry.

Entities seeking a cultivation facility must pay a $10,000 application fee.

Those seeking to distribute medical marijuana or manufacture MMJ-infused products must pay a $6,000 fee.

Missouri’s medical cannabis market has the potential to generate $175 million-$275 million in annual sales within several years of the opening of the state’s first dispensary, according to a Marijuana Business Daily projection.

– Associated Press and Marijuana Business Daily