(1) I think so. If I were an Olympic athlete and the Olympic games were in some strange (for me) country where it was prohibited to talk about my particular sexual orientation in the presence of children. Would I care? Probably not, I would go there to compete, not to talk about my sexuality.
(2) Unlike in the US, a lot of Olympic sports (boxing, figure skating) specifically focus on NON-professionals (i.e. people who don't earn money doing what they are doing).
(2) Elite sports is already big politics and big business.