I have absolutely NO problem with it. It's a private organization and has its own rules. Any member is free to leave if they do not agree with those rules and start their own jockey club where you can name horses Mohammed, Roosevelt or whatever suits your fancy. If the public (ie, marketplace) is in agreement with you and you practices, you will make money, the primary goal..........
All people living in the USA are 'limited' by our supreme "Law of the Land".
Thus, - the Constitution puts limits on people, as well as on governments.
You really think that "the private sector" can ignore our Constitutional freedoms, our Law of the Land?
The marketplace itself is restricted by our Law of the Land, by our freedoms as per the Bill of Rights.
Any member is free --- to start their own jockey club where you can name horses Mohammed, Roosevelt or whatever suits your fancy.
Do you really think a State or local government could or would [constitutionally speaking] license a racetrack that allowed gambling on horses named Mohammed, Roosevelt or whatever offensive name suits your fancy?
Dream on.