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Near Earth with constant g, lost gravitational potential energy is mgh. Without drag, a rest-start fall gives mgh = mv^2/2. With drag, some energy is transferred to the surroundings and internal energy, so kinetic gain is smaller.
Worked example
For m = 2 kg, g = 10 m/s^2 and h = 1 m, the potential decrease is 20 J. If 8 J is transferred by drag, kinetic energy becomes 12 J and speed is sqrt(12) m/s, about 3.46 m/s.