President Obama raised 60 million, up about 40 percent from the previous month.
Former Massachusetts governor Romney collected almost 77 million dollars, nearly double the figure for April.
The US media say Republican supporters began donating to Romney after he clinched the party's nomination, resulting in a significant jump.
Obama is still seen to be leading Romney in terms of funds on hand.
But the latest opinion poll shows that Romney's support rate is edging up, trailing Obama by only 3 points.
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