American funding is complicated. Bear in mind that it isn't just a President being elected, you also have a proportion of the Senate and house, though the former can often see $100 million being spent.
You also have political action committees and super pacs ( which have unlimited budgets). Supposedly separate ( I think by law) they tend to be single issue focussed but are actually backing a candidate. The NRA for instance might spend its money attacking a candidate in favour of gun control, which is tacitly supporting the opposing candidate. They did this in the election though one of the Democrats basically dumped their money in the ocean by stripping and assembling his AR-15 blind folded.
Of course this gets more complicated when you consider the wider balance of power considerations. If the republicans lost control of the Senate then that would impact upon the NRA's wishes. And those of the various abortion lobbies. And those of the paperclip manufacturers etc etc ad nauseum.
The media called it wrong and far more vociferously than the presidential election however they forgot that all the money from the various GOP and special interests which wasn't backing Trump ( nigh on all of it) was going to be poured into these sections of the election.
So, how much was spent is complicated because a lot of the money spent or raised indirectly and directly for the GOP didn't actually go anywhere near Trump or was even used to attack him in cases.
The Democrats pretty much sang from the same hymn sheet and spent an awful lot of money doing so. Probably more in real terms than any election in history. To say their warchest was overflowing is no understatement but they still looked enviously at the money Bernie Sanders was raising and decided to steal it.
I actually thought Trump would take Nevada because of it, imagine being a Sanders supporter who has opened your checkbook for him, then finding out that through wikileaks that the caucus was rigged and Hillary had stolen the money you donated to one of his PACs...
It's likely that Trump actually lost more money in business terms over a period of days after his bad hombre speech than he spent directly.... He still had donations and whatnot, I'm guessing when the numbers are crunched it'll turn out closer to $300 million than the figure we currently have, though bear in mind that might still be a 1/10th of Hillary's budget.
If money alone, and previously many pundits have literally looked at nothing else, can't buy you an election then the people who solicit for politician's cash probably just lost 80% of their power overnight.