Cobbs, 21, faces misdemeanor charges of refusal to identify and resisting law enforcement, according to Hamilton County (Indiana) Jail records obtained by multiple outlets.
He was arrested after he refused to clear the aisle at a Jason Aldean concert Saturday night, according to the reports. He was brought to the security office, where he reportedly was confrontational with police officers and refused to take a Breathalyzer.
The jail confirmed to the Indianapolis Star that Cobbs was released from jail Sunday afternoon.
Indiana acknowledged Cobbs' arrest in a statement, saying the program "will continue to gather facts, monitor the legal process and take action as the evolving situation warrants."
Cobbs was suspended for Indiana's first game of 2016, then suffered a season-ending ankle injury in the Hoosiers' second game. The redshirt junior posted 60 receptions for 1,035 yards and four touchdowns in 2015.