Wrestling Journalist Dave Meltzer on Regulation Prospects

From the new issue of Wrestling Observer Newsletter, covering Linda McMahon’s Senate election defeat:

Will an effort be made to re-regulate wrestling? Between the economic climate and the fact regulation hasn’t made a difference in the past, it’s doubtful, but not impossible. The Achilles heel of the company may have been classifying its wrestlers as independent contractors. Because wrestling is a relatively small business in the big picture, and active wrestlers know they can’t publicly say anything, if not for this campaign, that issue would likely have stayed under wraps. An investigation is already under way, and with a bad ruling. The vast majority of answers to questions seem to point strongly to WWE wrestlers as employees rather than independent contractors. Of all the business misfires, from the bodybuilding league, to failed outside promotions, a failed football league, a failed restaurant, this right now is the second most money spent on a failed project, behind only the football league, although the family due to the company going public, can afford it. But if these investigations go anywhere, the potential is for this to be the most costly decision the family has ever made.