That’s to be expected. Markdown won’t render properly inside of HTML tags. Seems ordered lists don’t render in Live Preview or Reading views.
And a related recent post:
The <font> tag is depreciated and you should avoid it. If you need to style only those three sections in the note, I’d consider using a span class for each and the corresponding CSS.
1. <span class="arial"> Cthulhu is a cosmic entity created by writer H. P. Lovecraft. </span>
2. <span class="arial"> It was first introduced in his short story "The Call of Cthulhu", published by the American pulp magazine Weird Tales in 1928. </span>
3. <span class="arial"> Considered a Great Old One within the pantheon of Lovecraftian cosmic entities... </span>