Having 4 daughters who cheerlead, yes, it is a sport. They take gymnastics, dance, tumbling, etc.. and put it all together into a routine, last year my 11 year old's team won the Illinois JV championship at NIU. lots of work, lots of cash.
I'm not talking rah rah only, they do that too. Pom Poms may be a little more in line with non sports type cheerleaders