When he's defeated there will be a cut-scene. Fire will be upgraded to Fira. You'll obtain Ansem's Report 1. After the cut-scene you will have to fly the magic carpet, but the sad part is that you can only move left to right. When you get to Aladdin's house there will be another cut-scene. You will learn the summon spell Genie. You'll obtain Three Wishes. You will also learn the Green Trinity.
At the world select screen, go to the area with 5 stars and a whale will swallow you.