Phelps clocked in at 4:03.84 managing to break his previous best time of 4:05.25 by almost 2 seconds, and setting a new world record in the event. This was his first gold medal won in the 2008 games. Phelps will swim the men's 4x100m freestyle relay tomorrow in an attempt to win his second gold medal.
Laszlo Cseh from Hungary came in second and received the silver medal, while Ryan Lochte from the U.S. came in third to win bronze.
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