Pro wrestling isn't "fake". You can call it anything else (scripted, simulated, worked, ect) but fake will upset people, sometimes fans more than the athletes themselves.
Some wrestlers, such as Ric Flair, have gotten away from some traditional terms like "heel", preferring to be called "bad guy" now that "marks" know it. Fans are marks because they get hooked by angles but some fans identify as smarks, since they know pro wrestling is show business. The argument here is that marks still get worked and the only "smarts" are those who have worked in the industry and thus intimately know how to work marks.
WWE does this so often that it's probably easier just to list them all (it should be noted that many other wrestling promotions have begun using some of the same terminology, especially "sports entertainment" and "superstars"):
Most famously, pro wrestling itself is "sports entertainment" (sometimes just "entertainment"). When a WWE wrestler is written to be "rebelling" against the company, they'll say "professional wrestling." Vince McMahon will say "rasslin" if he's intending to mock someone.(Roddy Piper was a mediocre rassler before McMahon made him a superstar, ect)
Wrestlers are "Superstars."
Until April 2016, female wrestlers were "Divas" (they're now "female Superstars").
For a brief period in 2006, male wrestlers on the ECW brand were "Extremists" and females were "Vixens" (this was dropped with most of the other unique aspects of the ECW brand).
Even on topic outside of kayfabe character will always be used in place of gimmick, even though "gimmick" was coined to more accurate explain how the job is different than playing a character.
Championship belts are just "championships" or "titles" (never "belts" and definitely never the old timey-sounding "straps").
WWE's fanbase is the "WWE Universe."
WWE Raw is "the longest-running weekly episodic television program in history."
Total Nonstop Action is also guilty of this, to a lesser degree:
On at least one occasion, the live audience was told they were "cast members" (insinuating they should cheer and boo the wrestlers the company wanted them to)
On the flip side, other wrestling companies who don't even have "writers" or such have fallen into using WWE terminology just because WWE is so insistent it starts to wear off. Alternatively, you can tell where WWE penetration isn't particularly strong by how little of its terminology they pick up (Championships are events in CMLL and the International Wrestling Cartel while wrestlers hold titles and belts, for instance, while New Japan Pro Wrestling does refer to the IWGP belts as "championships", though given that they call a governing body a "grand prix" Engrish is also clearly in effect)
Newsletters (such as The Wrestling Observer Newsletter) are referred to exclusively as "dirtsheets" or "inside trade papers" depending on whether the person is portrayed in a negative or positive light or what information is being reported. (for the record, most involved in putting out such things prefer the terms "column", "magazine" and yes, "newsletter", where applicable)
Similar to, and possibly the inspiration for, the Grinch movie example elsewhere, is wrestler "Rowdy" Roddy Piper. Piper is legitimately of Scottish descent, and often wears a traditional kilt to the ring. Of course, his opponent will invariably comment about how he doesn't want to wrestle someone in a "skirt". Piper's response: "It's not a skirt, it's a kilt!", followed by some serious pummeling. The apex of this came at the 1992 Royal Rumble, where "broadcast journalist" Bobby "The Brain" Heenan was openly rooting for Ric Flair and mocking Piper at every turn, until Piper saved Flair from an attack.
Heenan: It's a kilt. It's not a skirt, it's a kilt! (30 seconds later, Piper attacks Flair) Heenan: YOU SKIRT-WEARING FREAK! It's not a kilt, it's a skirt!
Weapons that aren't supposed to be used in a wrestling match are commonly called "foreign objects". During a period of time in which WCW was trying to present itself as a cleaner and more tolerant alternative to the WWF, these were renamed "international objects" because standards and practices didn't like that use of the word "foreign". This came about due to a miscommunicated directive to all Turner divisions (most specifically, CNN) to replace speaking instances of the word "foreign" with "international" in a news context. Nobody at WCW thought to get the directive rescinded in their case, and since they were in the middle of a financial downward spiral, it was easier just to go along with it.
Michael Cole has a tendency to substitute "skull" for head and "spine" for back, no matter how accurate or relevant the wording might actually be. In this sense, the Smackdown vs Raw games are better than his usual broadcast work, as he will be more likely to say "squeezing down on the head" or "small of the back".
Jillian Hall did not have a wart, mole, growth, tumor or rice cake! Just a blemish!
What's this? Why does TV Tropes have no pages with text about Osamu Nishimura? We know not this person you speak of. Perhaps you meant Mr. Muga?
A certain someone has a tendency to demand a certain introduction when in certain venues, emphases italicized: "Standing at 5 foot 5 Inches of perfection, weighing in at 120 perfect pounds, she is from the most perfect city in the world, Lisbon in the great nation of Portugal, Portugal's Perfect Athlete, SHANNA!
Former WWE Authority figureJohn Laurinaitis seemed to make it fit to refer to himself (and have everyone call him) as "Mr. John Laurinaitis, Executive Vice President of Talent Relations and Interim General Manager of Monday Night Raw." Later it became "General Manager of both Raw and Smackdown".
The X-Box 360 Lucha Libre game had the tag line "It's not pro wrestling! It's Lucha Libre!" Never mind the terms are often used interchangeably in the industry itself, such as the Lucha Libre Internacional having all its titles over seen by the Universal Wrestling Association or the World Wrestling League having the tag line "Un nuevo mundo de lucha libre". Even arguing "Lucha Libre" and "Pro Wrestling" are different is a generalization as there are several different styles of "Lucha Libre" and "Pro Wrestling".
Do NOT let  hear you refer to a Frankensteiner as a Hurricarana. You have been warned.