The Nevada State Athletic Commission (NSAC) has made a proposal to set Instant Replay during mixed martial arts events. They have also proposed a few other changes for MMA, which can be found at this link.
Here are a few examples of what the NSAC wants for MMA:
Sec. 7. NAC 467.682 is hereby amended to read as follows:
A referee may view a replay, if available, at the conclusion of a contest or exhibition stopped immediately due to an injury to an unarmed combatant pursuant to NAC 467.718 in order to determine whether the injury in question was caused by a legal blow or a foul.
(a) If the determination is made that the injury was the result of a legal blow, the injured unarmed combatant shall be determined to have lost the contest via technical knockout.
(b) If the determination is made that the injury was the result of a foul, it must be determined whether the foul was intentional or accidental.
(1) If deemed intentional, the outcome of the contest shall be determined in accord with NAC 467.698; or
(2) If deemed accidental, the outcome of the contest shall be determined in accord with NAC 467.702 or 467.7966.
Sec. 10. NAC 467.7962 is hereby amended to read as follows:
467.7962 The following acts constitute fouls in a contest or exhibition of mixed martial arts:
32. Applying any foreign substance to the hair or body that could result in an advantage.
Five-round non-title bouts:
2. A championship contest of mixed martial arts or any other mixed martial arts contest or exhibition which the Commission considers to be a special event must [be] not exceed five rounds in duration.