President Donald Trump has issued a flurry of executive orders, but few have received as much media attention as his directive protecting women’s sports. And few subsequent developments were as gratifying as the National Collegiate Athletics Association’s about-face on women’s athletics, which reversed the NCAA’s previously trans-inclusive policy and relegated women’s collegiate athletics to biological women, alone.
Or did it?
The NCAA—a nonprofit membership organization that regulates student athletics among 1,100 schools in the United States—organizes the athletic programs of colleges and universities within its three divisions. It oversees the sports participation of approximately 500,000 college student athletes who compete annually in college sports.
As a nonprofit organization, approximately 96% of its $1.28 billion in annual revenue is distributed…
