Yesterday, the penalty-reduction piece of Oklahoma’s medical marijuana initiative became operational. Individuals possessing up to 1.5 ounces of cannabis face a reduced penalty — a misdemeanor fine of up to $400 — if they “can state a medical condition.” Meanwhile, regulators made application materials available online for patients and caregivers, along with information for businesses and physicians. It will begin accepting applications on August 25. In another encouraging development, regulators…