It would be good, but isnt wrestling already an olympic sport? A lot of people may not see the difference or the use, so I doubt the olympic committee would agree.
I know everyone will disagree, but I think MMA itself should be an olympic sport. That way the best of different organisations could face off against one another without lawsuits and such. Just imagine 2008, Randy Couture vs Fedor Emelianenko. Everybody wins, without all the trouble this match has caused the MMA world already.