There are really four different types of triathlon races broken into two categories: Long Course and Short Course.
Short Course are Sprints: 750m swim, 20k bike, 5k run; and Olympic: 1500m swim, 40k bike, 10k run
Long Course are Half: 1900m swim, 90k bike, 21k run; and Full: 3800m swim, 180k bike, 42k run
There is a pretty robust pro series for short course, which is were the Olympians train and compete in. It's really well run at the pro level, which is their focus. I could see them building up their Age Group events more and more and eventually growing into Long Course distances.