To answer this question accurately we must look at the definition of the word "sport." This from dictionary.com:
noun
an athletic activity requiring skill or physical prowess and often of a compe ive nature, as racing, baseball, tennis, golf, bowling, wrestling, boxing, hunting, fishing, etc.
a particular form of this, especially in the out of doors.
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adjective Also sports.
of, relating to, or used in sports or a particular sport:
sport fishing.
suitable for outdoor or informal wear:
sport clothes.
verb (used without object)
to amuse oneself with some pleasant pastime or recreation.
to play, frolic, or gambol, as a child or an animal.
Using the above we can conclude that professional wrestling is indeed a "sport" just by mere definition. Looking at it more in depth we find that past the collegiate level "professional wrestling" has it's winners pre-determined theoretically eliminating the compe ion aspect of what is considered traditional sport. We know that the professional wrestler is athletic, tough, and durable. All the qualities you would want in an athlete participating in any kind of "sport." We know that there is compe ion behind the scenes to "get over" with the fans and also politically within the respective companies. We see real compe ion as far as TV time and le belts are concerned. Using the above information we can conclude that professional wrestling is indeed a sport and can also be considered entertainment. : )