The sport must be practiced by men in at least 75 countries and four continents, and by women in at least 40 countries and three continents.
The sport in question must have a governing International Federation in order for the IOC to officially recognize them as a sport.
The governing body has to then file an application to become a demonstration sport. After that, the sport may file another application to officially become a fully recognised Olympic sport.
Horseshoe throwing doesn't count
To make it onto the Olympic programme, a sport first has to be recognised: it must be administered by an International Federation which ensures that the sport's activities follow the Olympic Charter. If it is widely practised around the world and meets a number of criteria established by the IOC session, a recognised sport may be added to the Olympic programme on the recommendation of the IOC's Olympic Programme Commission.
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There are many requirements to participate in the Olympics. They vary by from nation to nation and from sport to sport.
(1) Taekwondo athletes should be medal winners at an International or World event
(2) Taekwondo athletes who wish to represent the United States must be citizens of the United States and hold a valid U.S. passport that will not expire for six months following the conclusion of the Olympics Games.
1, it needs to have an International Federation that governs the sport, sets and enforces rules, organizes tournaments, etc.
#2, it needs to be practiced in at least 50 countries (female sports) or 75 countries (male sports)
#3, it needs to hold World Championships.
#4, it needs to be recognized by the IOC, and finally,
#5, it needs to be voted in to the games by a 2/3 majority of IOC members at the first IOC meeting following each Olympic Games.
*Yahoo Answers user name: Bigfoot
2. The sport in question must have a governing International Federation in order for the IOC to officially recognize them as a sport.
3. The governing body has to then file an application to become a demonstration sport. After that, the sport may file another application to officially become a fully recognised Olympic sport.
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According to: http://www.olympic.org/uk/utilities/faq_detail_uk.asp?rdo_cat=24_52_0
What conditions must a city fulfil to become a candidate to host the Olympic Games?
Cities wishing to organise an edition of the Olympic Summer or Winter Games must:
1. Submit their request via their National Olympic Committee (NOC). They then become applicant cities.
2. Answer a first IOC questionnaire for applicant cities.
3. Be selected as candidate cities based on their answers to the questionnaire.
4. Answer a second questionnaire for candidate cities, and submit a candidature file.
5. Host the Evaluation Commission, which makes a four-day visit to each candidate city.
6. Present their candidature to the IOC Session, i.e. the general assembly of IOC members, which has the power to elect the host cities of the Olympic Games.
The criteria should be if not a lot of people can do that sport proply and do it fast enough then I think it should be a sport