Kotaku: "Calling pro wrestling "fake" is neither accurate nor informed. The term is "kayfabe."
Kayfabe isn't a euphemism for false. Kayfabe is specific to pro wrestling, and it means everyone - athletes and fans - getting the story straight without saying so. It's a conspired narrative that you can't acknowledge is unreal, like a hilarious family secret whose official version changes when your drunk uncle shows up sober."