Cain Velasquez Permitted To Wrestle In Lucha Libre Match, 1st Event Since Arrest

For the first time since he was arrested for allegedly trying to kill a man ... Cain Velasquez will be back competing in combat sports -- a judge just ruled he can participate in a Lucha Libre wrestling match next week.

Velasquez -- who was granted bail earlier this month after spending over nine months behind bars following accusations that he attempted to shoot Harry Goularte -- had asked a Santa Clara County court earlier this week to allow him to head to Arizona on Dec. 1 so he could participate in the Dec. 3 event.

The request was met with opposition from prosecutors ... but on Tuesday, a judge ruled he could, in fact, make the trip.

The judge, according to MMAJunkie, is allowing the 40-year-old former UFC star to wrestle without a monitoring device ... though Velasquez must pay for a police officer to monitor his movements for the duration of the trip -- which is expected to end on Dec. 4. He'll have to put his monitoring device back on then.

The event will go down at Mullett Arena in Tempe ... though it's unclear who Velasquez will be wrestling against.