Julien Alfred won the women's 100 metres final to claim Saint Lucia's first-ever Olympic medal.
The top Indian male and female finishers will now stand to gain $7,500 each.
American sprinter Sha'Carri Richardson, expected to be one of the biggest draws at the Tokyo Olympics, will miss the 100 metres at the Games after accepting a one-month ban for testing positive for cannabis during her US trials victory in June.
Mutola, 31, surpassed the five indoor world titles held by Cuban long jumper Ivan Pedroso to etch her name in history.
World record holders Stacy Dragila and Regina Jacobs and former Olympic champions Allen Johnson and Gail Devers lead the challenge.
With only the first three sure to qualify for Saturday's semi-finals, Devers squeezed through as the fourth next-fastest.
The defending Olympic champion Jamaican Elaine Thompson-Herah ran a scorching 10.82 to advance and she almost slowed towards the finish line. She was all smiles and thumbs up after a performance that made a clear statement of intent that she was not yet ready to relinquish her title.
Eight-time Olympic gold medallist Usain Bolt said he hopes American sprinter Sha'Carri Richardson can "refocus" and get back on the track after she completes a one-month ban following a positive test for cannabis.
Jamaica's Elaine Thompson surprised even herself by storming to victory in the Olympic women's 100 meters on Saturday as compatriot Shelly-Ann Fraser-Pryce failed in her bid to win a third straight title.