Michael Phelps has so far emerged unscathed from the controversy created by the photo showing him smoking from a bong, with his sponsors still standing behind him. However, he still could face criminal charges if it's determined that he was smoking marijuana, which shouldn't be too difficult considering there's a photo and Phelps has already confessed:
Richland County Sheriff Leon Lott says he will charge Michael Phelps with a crime if he determines the Olympics hero smoked marijuana in Richland County...
...Possession of marijuana is a misdemeanor, punishable by up to 30 days in jail or a $570 fine, plus court costs.
But Lott seems to be the only person talking about making a case against Phelps. Both the USC and Columbia Police Departments said they would not pursue charges.