What the hell is a catch? After what feels like 1,000,000 years of asking that question, we are still in search of an answer. There is none. Case in point, this play by Marcus Peters was ruled an incomplete interception attempt on the field, but upon further review was ruled a completed interception.
The ball is moving the whole time. Peters never completely controls it. He does not maintain possession of the ball when he hits the ground. It was, again, ruled incomplete on the field. Somehow, some way, the refs overturned it after the Ravens challenged the play and gave it to the Ravens in Colts territory. They went on to score a touchdown and take the lead. They scored again later in the game. This call completely changed the momentum of the game.
That view shows the ball moving the entire time Peters has it in his hands, which isn't long, but apparently long enough for these refs to hand the ball to the Colts in a tight game with playoff implications. The Ravens took a 14-10 lead on the ensuing possession.