1) To me it's similar, but with nominalization and gerund inflection. Because actually I'm under the impression it should say, "I am hoping to be medaling at the swimming contest(ing)." I have to admit, as a none native speaker i have a problem with the present progressive tense in general, yet grammarians are not 100% agreeing (argh) on the gerunds status as verb/noun/adverbial-noun status of the gerund.