Why isn't powerlifting an olympic sport? Far more interesting tha olympic lifting...
There are too many drugs in the sport, sure other Olympic sports are just as drug addled, but they were already Olympic events with long histories. There is also a built in audience and lots of money behind them. It will take a lot for them(IOC) to consider adding another small event with a huge drug stigma attached to it.
The sport is also too fragmented, dozens of federations. They would need to consolidate into one or a couple of big federations to make a real push for acceptance.
They also need to get their stuff together as far as rules for the lifts, equipment, .... There's tons of infighting among the federations about this topic already. They need to get that worked out first.
.