ISB was the host broadcaster for Wroclaw 2017 (a role they will hold again in 2022). They worked with the Olympic Channel to bring expanded coverage of the World Games. The model worked as such:
There would be a World feed that showed action from the 2017 World Games constantly (24/7). All sports (minus Air Sports ams Tug of War for some reason) would be shown on that channel at some point. This ensured coverage for nearly every sport, and the maximum possible audience for the World Games via the Olympic Channel.
There was then the “rights holding broadcasters” (I.e. Eurosport, Sport1, NBC, etc.). Rights holding broadcasters could broadcast whatever the ISB made available for them. So they could show all finals live because they were using multiple feeds/channels.
There was also the IFs, and this is the part of the model I really liked. IFs could use the ISB footage or even their own broadcast services to broadcast the games on their normal platforms. World Archery broadcast all of the Field Archery sessions to YouTube for issuance. Korfball, Canoe Polo, Floorball, Muaythai did same. Some federations (Billiards, Fistball, Orienteering) also had their own online channels at that point and used them. Most importantly, IFs could use their normal commentators.
So under this model, anyone with internet access around the World was guaranteed to be able to watch the World Games on the Olympic Channel. Sure it wasn’t perfect, and you couldn’t exactly choose what you wanted to watch, but everyone had unrestricted access to a 24/7 channel showing action from the games. People invested in these sports, could then watch full coverage of the World Games in that sport where they would normally watch live events. Broadcasters from various countries could then show whatever sports were popular in their country, and whatever sports they were hoping to introduce the public too.
The model was chaotic, and you had to be “in the know” a little to take full advantage of it, but it was probably one of the best models for multi-sports games broadcasting in the modern streaming era.
Now to answer the question you actually asked, I believe NBC has the rights to the 2022 World Games in the U.S. (so yes, the Olympic Channel still has the rights).