Olympic records and world records are separate categories, and the Olympic mark is frequently slower or shorter than the world best. The difference comes from what each record is permitted to recognise.
The Olympic record is venue-limited by definition
An Olympic record recognises the best performance achieved at the Games themselves, so it can only be set during a fortnight every four years.
A world record may be set at any recognised competition, of which there are many each year, giving far more opportunities for an exceptional performance.
The Olympic mark therefore lags simply because of how few attempts contribute to it, independent of how strong the field is.
Conditions are not chosen for fast marks
Host cities are selected for reasons unrelated to performance conditions, so altitude, humidity and temperature are whatever the host happens to offer.
Specialist record meetings, by contrast, are often held where conditions are known to be favourable and are scheduled at times of day chosen accordingly.
Olympic finals are also placed to suit broadcast schedules rather than performance, which can mean competing in heat or late at night.
Championship racing rewards placing, not time
An Olympic final awards medals for finishing position, so athletes race tactically and may run slowly until a decisive move late in the event.
Circuit races frequently use pacemakers to produce even, fast splits, which is precisely the arrangement that produces record times.
The incentive structure therefore differs completely, and an athlete capable of a record may deliberately run a slow race to win.
Rounds accumulate fatigue
Olympic events run through heats, semi-finals and finals across several days, so a finalist arrives having already competed at high intensity.
A record attempt at a one-off meeting requires a single performance from a fully rested athlete, which is a materially easier task.
The effect is largest in events where recovery is slow, and it partly explains why some Olympic records stand for a very long time.
Ratification rules apply to both
Records in either category require compliant equipment, an approved course or facility, and completed anti-doping procedures before they are recognised.
Marks are withdrawn when a subsequent result is annulled, which is why record lists change retrospectively and previous performances are sometimes restored.
Both categories are therefore administrative statements about verified performances, rather than a simple record of what was fastest on the day.
