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Seriously, it’s the world’s #2 sport behind only soccer. The answer to the second question is yes. Ye Schiwen set a World Record swimming in the 2012 women's IM. She then broke that WR again in the finals. In 1992, Mike Marsh ran a 19.66 200m in the semifinals setting an Olympic (though not World) record. Later in the finals he won the gold but with a slower time. Thus, the answer to your first question is also yes. There may be more examples but these are the two I remember. EDIT: Just remembered another one. In 1984 200m backstroke, Rick Carey set an Olympic record in the heats/semi-final. In the final, he won the gold but with a slower time. This was remembered for the winner's surprisingly disappointed reaction to winning the gold. He was visibly upset he failed to break his own world record and could not even muster a smile on the medal stand.
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