There is speculation, then there is hypothesis, then there is theory, then there is fact. A scientist will sit down and speculate about possible explanations for something. If one of them sounds like it makes more sense than "fairies and gremlins", he'll form an hypothesis, and suggest possible tests. If the hypothesis seems to pass some tests, it becomes a theory. The more tests it passes, the more "generally accepted" the theory is.
Generally speaking, theories don't become "facts." The Theory of Gravity is still just a theory, even though gravity is a fact. The statement that something is out there that's affecting galaxies is a fact, and we label that fact "Dark Matter." There are several theories about what "dark matter" might be, but the phrase "dark matter" is just a placeholder for whatever it is.
However, having said that, CDM has failed the falsification tests. If someone wants to posit CDM as an explanation, they're going to have to come up with a new (and complicated) explanation for why it's CDM, but fails the tests that have been done. In the end, that hypothesis will probably be more complicated and less elegant than the WIMP theory.
Personally, I like to think that it's normal matter, separated from our universe in some additional dimension, so that we can interact gravitationally but not otherwise. But that's just a personal preference and I'm certainly not going to try to defend it.