The rules every market runs on

The Terms of Use (§6) state that each market’s query, data source and resolution rule are fixed at activation, shown on the market page, and cannot be amended once the market opens for trading. For a delay market that includes the delay threshold and the scheduled arrival it is measured against: a later timetable change does not move them.

Outcomes are read from the record the airport, station or port itself publishes and applied to the market’s fixed terms.

Flights

The arrival time the destination airport publishes, against the scheduled arrival fixed when the market opened. A flight that arrives more than the delay threshold late settles Delayed; one that arrives exactly on the threshold settles On time. A flight recorded as landing at a different airport did not arrive at the market’s destination and settles Cancelled.

Trains

The arrival record the destination station publishes, against the timetable. A train that arrives late by the delay threshold or more settles Delayed; an official cancellation settles Cancelled.

Ships

The arrival record the destination port publishes. A voyage is measured against the arrival estimate locked when the market opened; arriving more than the delay threshold after it settles Delayed.

Each market shows its own delay threshold on its page. There is no single threshold for every market.

When the record confirms an outcome, settlement is automatic: each share of the outcome that happened pays $1.00 into your balance, and the other shares pay nothing.

A market stops taking trades at the first of these moments:

• its published close time;
• for a flight or train delay market, the scheduled arrival plus the delay threshold, because from then on the outcome no longer depends on anything still to happen;
• a departure late enough that the journey can no longer arrive on time;
• a recorded arrival, or a published cancellation or diversion.

The result has not been reported yet

Settlement waits and no funds move. There is no automatic refund deadline while evidence is missing; we keep checking the official record and valid alternatives.

The record cannot be reached, or it is inconsistent

The market is paused for a person to check. Nothing settles or refunds automatically while that review is open, and it ends either in settlement on the established outcome or in a full refund of every position.

There is no outcome to settle

If the official record confirms the event has no outcome to settle against, or a flight landed but no arrival time was ever published for it, the market is voided and every position is refunded in full.

Our team voids a market

When our team voids a market, every position is refunded in full.

If a settled result turns out to be wrong, we correct it: the market is re-settled on the right outcome, or voided and refunded. A correction that moves money needs a second person’s approval, and everyone who held the market or whose balance the correction changes is sent an email.

Under the Terms of Use (§10), you agree not to:

1. engage in market manipulation, wash trading, self-matching, spoofing, layering, front-running, or any conduct intended to create a false or misleading appearance of trading activity or price;
2. open or operate more than one account for any individual identity, except where expressly authorised by us in writing.

Where we reasonably suspect a breach, the Terms (§11) allow us to suspend, freeze or close the account; to refuse, hold, reverse or refund any deposit, trade, withdrawal or payout; and to recover from any payout otherwise due any amount we have paid or are liable to pay because of the breach.

Quoted from the Terms of Use. Terms of Use: acceptable use

If you believe a market was settled incorrectly, email [email protected] within seven calendar days of settlement with the evidence that supports your position. We review it and respond within 15 business days. If we conclude the market was settled incorrectly, we reverse the settlement and re-resolve the market, restoring balances as though the corrected resolution had applied from the start (Terms of Use, §13.1).

Any other dispute under the Terms goes to arbitration administered by the LCIA, seated in Panama City and conducted on an individual basis (§13.2 and §13.3).

• Every trade is priced by a fixed pricing formula, not by us (Terms of Use, §6), and each market has a ceiling on what it can owe; a trade that would take the market past it is refused.
• Sign-up checks detect repeated account creation, as the Privacy Policy describes (§2.4).

• How settlement works
• Responsible trading
• Terms of Use: acceptable use