I had suggested, but the UFC is sponsoring an amateur MMA event. The Liberty Games - which is a sort of New York Olympics, but with more interesting events than the regular Olympics - will be hosting an amateur MMA event on July 19 in Upstate New York, and the good people at the UFC are one of the sponsors.
The rules are modified a bit - there is no striking on the ground, rounds are two minutes long, and bouts will be conducted on a mat. But still, it's something... and the UFC is involved.
Here's the Daily Gazette with a quote from UFC rep Steve Greenberg:
UFC spokesman Steven Greenberg said sponsoring a portion of the Liberty Games is just part of UFC’s philanthropic endeavors in New York. He agrees the lack of regulation impacts amateurs.
“The only thing we don’t have in New York is professional MMA,” he said. “In any given week you can find amateur MMA throughout the state — and it is unregulated. How is that safer for athletes?”