CNN.com has a great site that will automatically detect you're on an iphone and adjust the site accordingly for you. If not, the address is m.cnn.com They'll for sure have up to date election night coverage.
Also there are Associated Press and NY Times apps for free on the app store that will probably have good and up to date info.
Politico.com and realclearpolitics.com also good orginal and aggregated coverage of election news, although it's more narrative and less of the "breaking news" type so the above 3 probably best. But politico and RCP good for getting some interesting analysis and insight. Neither of their sites are optimized for iphone but they do load up ok generally.
With CNN, the AP, and NY Times you should have some quite good info. best