Pence maintains massive money lead in race for governor

U.S. Rep. Mike Pence is building a large cash advantage in his run for Indiana governor.

Pence reported Monday that he raised $1.8 million through the first three months of 2012. Democrat John Gregg raised $585,000 during the same period. As of Monday, Pence had $4.9 million in the bank compared to Gregg's $1.5 million.

Libertarian candidate Rupert Boneham raised $14,000 and had $4,000 in the bank as of Monday.

All three men are running for the seat Gov. Mitch Daniels is vacating in January. Daniels cannot run for a third term.

Pence's fundraising heft has been boosted in part by Indiana state law, which sets no limits on how much individuals can give to statewide candidates.