Ed Gallegos began serving as a member of the National Wrestling Hall of Fame Board of Governors in 2007 and became treasurer in 2016.

Gallegos was an NCAA Division II All-American, finishing sixth at the NCAA Division II Wrestling Championships in 1991, for Colorado School of Mines.

After graduating with a bachelor's degree in mechanical engineering, he founded Iron Sights Operating, Inc., an oil and gas company, in 1997, and later sold it to Chesapeake in 2007.

He then founded Territory Resources, a privately-held energy company headquartered in Stillwater, Oklahoma.