He would place fifth at the 1971 NAIA Men's Wrestling Championships as a collegiate wrestler, before jumping levels the following year to make the 1972 USA freestyle wrestling team, where he earned a silver medal in the 82 kg weight class.[4] At the following 1976 Summer Olympics, he won the gold medal at 82 kg.[5] Peterson's younger brother, Ben Peterson, also competed in both the 1972 and 1976 Summer Olympics as a freestyle wrestler, winning a gold medal in 1972 and silver medal in 1976.