Mr. Tester’s top Republican challenger, Tim Sheehy, a wealthy businessman, announced that he had raised $2.5 million in the fourth quarter, including $450,000 of his own money. Republicans also expect Representative Matt Rosendale, a far-right agitator, to enter the race soon.

In Ohio, Senator Sherrod Brown, a Democrat also seeking his fourth term, raised $6.6 million in the fourth quarter and had $14.6 million on hand, according to his campaign.

Among the three top Republicans seeking their…

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