The International Cricket Council is expected to lobby hard for the sport's inclusion in the 2024 Olympics following the success of the women's world cup in England.
The Guardian newspaper claims there's a strong possibility Twenty20 cricket will be included in the 2024 and 2028 Games.
The format would feature eight nations competing in two groups of four with the top two in each advancing to the semifinals.
In March, ICC CEO Dave Richardson said they needed to make a decision on applying for inclusion in 2024 by July.
"We need to make a decision by, I guess, July of this year so that we can submit an application by September," Richardson told reporters.