While the NCAA, NBA, and FIBA (Olympics) each play a "Size 7" basketball, the three organizations have different criteria with FIBA being the most strict. From Wikipedia:
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Organized basketball leagues generally have very rigorous specifications for the balls to be used in official competition including weight, inflation pressure, bounce, circumference, color, and materials used. Most leagues use very similar specifications for their balls which are referred to as size 7 (for men's competition) and size 6 (for women's competition) by manufacturers. However the specific wording and policy on manufacturers vary between leagues. Here are the official specifications for three popular leagues:
The International Basketball Federation (FIBA) has very strict criteria for its certified basketballs: The ball must be size 7, bear the name of the manufacturer and a serial number. It must be made of either genuine or artificial/synthetic leather and must be free of toxic materials and materials which may cause allergic reactions, and must also be free of heavy metals and AZO colors, though FIBA does not specify a specific color for the ball. It must be between 749 millimetres (mm) and 780 mm (29.5-30.7 in) in circumference, it must bounce at least 1300 mm (51.2 in) when dropped from a height of 1800 mm (70.9 in) on a hard surface with a mass of more than 1 ton, and it must weigh between 567 grams (g) and 650 g (20-22.9 oz). The ball must also pass a battery of rigorous tests: a fatigue test where it is bounced 20,000 times at a reference pressure without leaking any air, and then perform to specification when dropped from the reference height (1800 mm); a heat test where it is stored in a room for 7 days at 70 Celsius (158 Fahrenheit) and show no difference in appearance or performance; a valve test where a dry inflation needle is inserted into the ball 100 times and the ball must not show any leakage afterwards; and a friction test where the outer surface must match or exceed friction requirements or perform to the testers' satisfaction in a practice game. The manufacturer of the ball must have been certified by FIBA, which entails submitting balls for testing and paying a $3,000 testing fee, paying $13,000 per year in licensing fees, and printing the FIBA logo on each ball. Any manufacturer may submit for testing and certification.[2]
The National Collegiate Athletic Association (NCAA) has less stringent requirements: The ball must measure between 29.5 and 30 inches (749–762 mm) in circumference, bounce between 49 and 54 inches (1245–1372 mm) when dropped from a height of 6 feet (1829 mm), and must weigh between 20 and 22 ounces (567–624 g) for men's competition (size 7), and measure between 28.5 and 29 inches (724–737 mm) in circumference , bounce between 51 and 56 inches (1295–1422 mm) when dropped from a height of 6 feet (1829 mm), and must weigh between 18 and 20 ounces (510–567 g) for women's competition (Size 6). Though the NCAA does not specify a particular manufacturer for the ball in regular season play, the Wilson SOLUTION basketball is the official basketball of the NCAA tournament.[3]
The National Basketball Association (NBA) allows only one official ball: The ball must be the official NBA game ball manufactured by Spalding. The ball is orange in color, 29.5 (749 mm) inches in circumference and weighs 22 ounces (624 g) (size 7). It must also be inflated to between 7.5 and 8.5 pounds per square inch. Starting in the 2006 season, the NBA switched to a new ball from Spalding that had a synthetic surface and a modified rib pattern (See section below). Until 2005 the ball had a leather surface. On December 11, 2006 the NBA decided to revert to the old leather ball due to numerous player complaints, lawsuits and injuries, mostly scratched hands, from the synthetic ball.[4] Spalding has manufactured the official NBA game ball since 1983.[5][6]
The Women's National Basketball Association (WNBA) has similar requirements to the NBA: The ball must be the official WNBA game ball manufactured by Spalding. The ball must be orange and white in color, between 28.5 and 29 inches (724–737 mm) in circumference and weigh between 18 and 20 ounces (510–567 g) (size 6).[7]
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In essence, FIBA has created an Olympics basketball and they make manufacturers pay for certification.
I know it won't happen because of the parties that make up the Olympics Golf Committee, but here you have the opportunity to build a 6999 yard course with an "Olympics Ball", and begin to curtail the arms race of professional golf.