Kentucky Derby
May 2 124th Kentucky Derby: Kent Desormeaux aboard Real Quiet wins in 2:02.20
Baseball Record
May 6 Kerry Wood strikes out 20 Houston Astros to tie the major league record held by Roger Clemens. He threw a one-hitter and did not walk a batter in his 5th career start.
- May 13 Chelsea of England win 38th European Cup Winner's Cup against Stuttgart of Germany 1-0 in Stockholm
- May 16 123rd Preakness: Kent Desormeaux aboard Real Quiet wins in 1:54.80
LPGA Championship
May 17 LPGA Championship Women's Golf, DuPont CC: 20-year-old rookie Se Ri Pak leads wire-to-wire to win the first of her 5 majors, 3 strokes ahead of runners-up Donna Andrews and Lisa Hackney
- May 17 New York Yankees pitcher David Wells tosses a perfect game in a 4-0 win against the Minnesota Twins at Yankee Stadium, NY
- May 20 6th UEFA Champions League Final: Real Madrid beats Juventus 1-0 at Amsterdam
- May 24 Indianapolis 500: American ex-Formula One driver Eddie Cheever Jr finishes 3 seconds ahead of 1996 winner Buddy Lazier; first Indy fully sanctioned by the IRL
- May 30 Super Rugby Final, Eden Park, Auckland: In an all-NZ final, Andrew Mehrtens lands 2 penalties & 2 conversions as the Canterbury Crusaders beat the Blues, 20-13; Crusaders' first title