United Statesnj

Prediction markets like Kalshi and Polymarket are booming. They also face a widening legal battle with US states and criticism over alleged user insider trading. Here's how they got so controversial.

The wealthy New Jersey town of Montclair is making staff and program cuts at its public schools in an effort to address a $20 million budget gap. The commuter town discovered the deficit in July, with a judge recently swatting down a vote aimed at raising property taxes to mitigate the problem. Bloomberg's Erin Hudson talked about the story on "Bloomberg Markets" with Dani Burger.