Why doesn't Netflix have a Pro wrestling Show?

They're actually going to have a wrestling sitcom sometime this year called "GLOW" starring Allison Brie from community, with Chavo Guerrero producing and coordinating things.

I think a major reason that it doesn't have wrestling beyond that and the occasional documentary is because a majority of large independents have their own streaming sites, be it through WWNLive, High Spots Wrestling Network, or Chikaratopia. I think New Japan even has a streaming venue for their AXS TV. Not to mention, of course, the WWE Network.

I have heard that Lucha Underground has tried to negotiate a deal with Netflix in the past, but for their high production budget I think the partnership would have to be very lucrative for both parties in order for it to work. LU refuses to compromise with it's budget killing cinematography though, which is admirable considering what they turn out is either gorgeous or B-Movie gold.

1. Netflix still doesn't know what it wants to be

- they started as Rent by Mail, moved to Digital rental, and are moving into Original content; almost if not all of it as 'Bulk Post' for Binge viewing

2. as 'Soap Opera' as Wrestling is; the heart of the story is a world of Live sport; even Lucha Underground which Tapes en-masse, still meters out the episodes to play out across a 'season'

3. because everything is created 'on-spec' who ever backs such a project needs to go all in from day one; they need to lock in talent for at least the first season: they need to contract them to not only work the tapings, but work out a Royalty deal for the broadcast/Posting; as well as secure them from 'other Product' until the air date... (you lose the air of exclusivity, and value, if your top 5 stars show up on TV in NJPW, ROH, Impact and WWE before your show Drops... not to mention simply arriving somewhere else is a walking spoiler as to whether they'd be returning to the "Netflix Wrestling federation"...

4 how do you run House shows; how do you advertise said shows?

It has some pro wrestling films and documentaries,I've seen it so it is not that bad.Wrestling would probably need to appeal to more people to get it on Netflix even though it is considerably popular.