Racquetball is not currently an Olympic sport. However, several racquetball organizations have attempted to gain global recognition for the sport in an attempt to have it become part of the Olympics.
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the main reason is racquetball is not popular enough.....internationally. Racquetball is mostly played in the USA and i've heard other countries dont want the USA to get more medals. Thats why other countries want to get rid of Baseball and softball (i've heard). And this annoys me because they have things like trampoline and tug-of-war in the summer olympics.