WWE's Shad Gaspard Won't Be Prosecuted

We broke the story ... part of the arrest was captured on tape ... and Shad -- a very large African American gentleman -- can be heard screaming, "Why am I being arrested? Because I'm big and I'm black?"

Gaspard was charged for resisting arrest -- but according to documents filed in Franklin County Municipal Court this week, the charge has finally been DROPPED. However, he was hit with one lesser charge of obstructing official business and had to pay a fine.

TMZ spoke to Gaspard who tells us he no longer plans to file a lawsuit against the Columbus PD over the arrest ... explaining, "I feel that everything has run its course the proper way, and it's best I move on from this in a positive light."