Terms of Service

These Terms of Service (the “Terms”) constitute a binding legal agreement between Bayes(the “Company,” “we,” “us,” or “our”) and the individual accessing or using any of our programs, accounts, dashboards, websites, or related services (the “Client,” “you,” or “your”). By creating an account, purchasing an Evaluation, Direct, or any other product, or otherwise using Bayes, you agree to these Terms in full. If you do not agree, you must not use the Services.

Bayes is a proprietary trading firm offering evaluation and funded programs based on simulated trading against live prediction market data from venues including, without limitation, Kalshi and Polymarket. Bayes is not a broker-dealer, exchange, money transmitter, or registered investment adviser, and does not solicit client funds for the purpose of trading on behalf of the Client.

1. Definitions

• •Eval Account. A simulated trading account with a profit target the Client must reach within the published rules to qualify for a Funded Account.
• •Funded Account. A simulated account on which the Client may earn payouts based on net positive simulated profit and loss, subject to the rules of the program purchased.
• •Direct Account. A simulated account purchased without an Evaluation phase, governed by its own rule book.
• •Live Account. A real-money trading account on the underlying venue, accessed only after a Funded Account has graduated under the published criteria.
• •Program. Any of the Standard, Velocity, Direct, or Algo offerings, each with its own published rule book.
• •Services. Collectively, the websites, dashboards, evaluations, accounts, payouts, and any other product or content made available by the Company.

2. Eligibility

You represent and warrant that you are at least eighteen (18) years old, have full legal capacity to enter into binding contracts, and are not located in or a resident of any jurisdiction in which the use of Bayes’s Services is prohibited by applicable law, sanctions, or export controls. The Company may, at its sole discretion, refuse Service to any individual or entity at any time for any reason consistent with applicable law.

You are solely responsible for determining whether your access to and use of the Services is legal under the laws of the jurisdiction in which you reside.

3. Account Registration And Security

You agree to provide accurate, current, and complete information during registration and to keep that information up to date. You are responsible for maintaining the confidentiality of your credentials and for all activity that occurs under your account. The Company may suspend, terminate, or refuse access to any account it reasonably believes has been registered with false, misleading, or duplicate information, or has been accessed by an unauthorized party.

One Client may hold multiple accounts only to the extent expressly permitted by the rules of the relevant Program. Operating multiple accounts to circumvent risk parameters, drawdown limits, or payout caps is strictly prohibited and may result in immediate termination, account closure, and forfeiture of any pending payouts.

4. Services And Simulated Trading Environment

All Eval, Funded, and Direct Accounts are simulated. Trades placed on these accounts do not result in the purchase or sale of any actual contract on Kalshi, Polymarket, or any other venue, and no Client funds are at risk in the underlying market while trading on a simulated account. Quoted prices, fills, and profit and loss are derived from live market data but executed against the Company’s internal simulation environment.

A Live Account, where applicable, is opened only after a Funded Account has met the graduation criteria published in the rule book for the relevant Program (including completion of the required number of weekly payouts on the simulated Funded Account). Trading on a Live Account occurs with real capital on the underlying venue and is subject to that venue’s own terms and conditions.

5. Trading Rules

Each Program is governed by a rule book that includes the applicable profit target, trailing drawdown, consistency percentage, daily profit-day requirements, position-size limits, and payout cycle. The currently published rules for each Program are available on the rules pages of the website and are incorporated into these Terms by reference.

The Client is responsible for reading and understanding the rule book for any Program prior to purchase. By purchasing or trading an account, the Client acknowledges that any breach of the applicable rules — including, without limitation, breaching the trailing drawdown, exceeding maximum position size, or failing the consistency rule at the moment of payout request — may result in the immediate flattening of open positions and closure of the account.

The Company may, in its sole discretion, update the rule book for a Program from time to time. Material changes will apply prospectively to new accounts and to any payout cycle that begins after the effective date of the change.

6. Prohibited Strategies And Conduct

The following are strictly prohibited on all simulated accounts and constitute a material breach of these Terms:

• •Coordinated, group, or copy trading across multiple accounts, whether your own or those of other Clients;
• •Hedged positions taken across two or more accounts (your own or another Client's) for the purpose of guaranteeing one account a profit at the expense of another;
• •Automated or algorithmic trading other than through an Algo Account expressly permitted under the published rules, and only within the parameters set by that Program;
• •Use of latency arbitrage, price-feed exploits, fill-quality exploits, or any strategy that depends on a discrepancy between the simulated environment and the live venue;
• •Trading on the basis of, or for the purpose of testing, a known platform error, data outage, frozen feed, or simulator misbehavior;
• •Use of a virtual private network, proxy, residential proxy, or any tool intended to obscure the Client's identity or jurisdiction;
• •Submission of false know-your-customer, payout, or address-verification information;
• •Any conduct that, in the Company's reasonable judgment, exploits the simulated nature of the environment or otherwise manipulates the integrity of the program.

Where the Company determines, in its sole discretion, that a Client has engaged in any prohibited conduct, the Company may close any or all accounts associated with that Client, void any outstanding payouts, and permanently bar the Client from current and future use of the Services.

7. Payouts

Payouts are available only on Funded Accounts that meet the eligibility criteria published in the rule book of the relevant Program, including the trading-days-with-profit requirement, net profit in the payout cycle, and the consistency percentage. Profit is split eighty percent (80%) to the Client and twenty percent (20%) to the Company unless otherwise stated for a specific Program.

Approved payouts are disbursed through Wise within the timing window stated in the rule book. The Client is solely responsible for any taxes, withholdings, fees, or reporting obligations associated with payouts received. The Company does not provide tax advice and does not act as a withholding agent.

Payout requests are final once submitted. A request will be denied if, at the time of processing, the account no longer meets the eligibility threshold for any reason, including subsequent trading losses or rule breaches.

8. Fees, Resets, Refunds, And Chargebacks

All fees for Eval, Direct, and reset purchases are charged at the time of purchase and are non-refundable except as expressly provided in our Refund Policy, which is incorporated into these Terms by reference. The Company’s policy on chargebacks and fraudulent payment disputes, including the consequences for initiating an unfounded chargeback, is also set out in that policy and forms part of these Terms.

9. Account Termination And Suspension

The Company may suspend or terminate any account, void any outstanding payout, and bar the Client from current and future access to the Services, in each case immediately and without advance notice, where the Company reasonably determines that the Client has breached these Terms, the rule book of any Program, or applicable law, or where required to comply with a legal, regulatory, sanctions, or payment-processor obligation.

Upon termination, all rights granted to the Client under these Terms cease immediately. Sections that by their nature should survive termination — including without limitation the disclaimers, limitation of liability, indemnification, governing law, and dispute resolution provisions — will survive.

10. Intellectual Property

All content, software, dashboards, marks, logos, rule books, documentation, and other materials made available through the Services are owned by the Company or its licensors and are protected by intellectual property laws. You are granted a limited, non-exclusive, non-transferable, revocable license to access and use the Services solely for the purpose for which they are made available. You may not copy, modify, distribute, sell, or create derivative works of any portion of the Services without the Company’s prior written consent.

11. No Investment Advice

Nothing on the Services constitutes investment, financial, legal, or tax advice, and nothing is intended as a recommendation to buy, sell, or hold any contract, security, or other instrument. All content is provided for educational and informational purposes only. Trading and prediction markets involve risk; past performance, simulated or otherwise, is not indicative of future results.

12. Disclaimers

The Services are provided on an “as is” and “as available” basis. To the fullest extent permitted by law, the Company disclaims all warranties, express or implied, including without limitation the implied warranties of merchantability, fitness for a particular purpose, non-infringement, and any warranty arising out of course of dealing or usage of trade. The Company does not warrant that the Services will be uninterrupted, error-free, or free of harmful components, or that any data, quote, fill, or simulation will be accurate, complete, or available at any particular time.

13. Limitation Of Liability

To the fullest extent permitted by law, in no event shall the Company, its officers, directors, employees, agents, or affiliates be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, or for any loss of profits, revenue, data, goodwill, or other intangible losses arising out of or in connection with the Services or these Terms, whether based on contract, tort, strict liability, or any other legal theory, and whether or not the Company has been advised of the possibility of such damages.

In no event shall the Company’s aggregate liability arising out of or in connection with the Services or these Terms exceed the greater of one hundred dollars ($100.00) or the amount paid by the Client to the Company in the twelve (12) months immediately preceding the event giving rise to the liability.

14. Indemnification

You agree to defend, indemnify, and hold harmless the Company and its officers, directors, employees, agents, and affiliates from and against any and all claims, damages, obligations, losses, liabilities, costs, and expenses (including reasonable attorneys’ fees) arising out of or in any way connected with (a) your access to or use of the Services, (b) your breach of these Terms or the rule book of any Program, (c) your violation of any law or the rights of a third party, or (d) any payout request, chargeback, or payment dispute initiated by you.

15. Modifications To The Terms And Services

The Company may modify these Terms at any time by posting the updated Terms to the Services and updating the “Last updated” date above. Material changes are effective when posted unless a later effective date is stated. Your continued use of the Services after any such update constitutes acceptance of the revised Terms. The Company may also modify, suspend, or discontinue any portion of the Services at any time, with or without notice.

16. Governing Law And Dispute Resolution

These Terms and any dispute or claim arising out of or in connection with them are governed by the laws applicable to the Company’s principal place of business, without regard to its conflict of law principles. Any dispute, controversy, or claim arising out of or relating to these Terms or the Services shall be resolved by final and binding individual arbitration, on a non-class basis, conducted in English. The Client and the Company each waive the right to a trial by jury and the right to participate in any class, collective, or representative action.

Notwithstanding the foregoing, either party may seek injunctive or other equitable relief in any court of competent jurisdiction to protect its intellectual property or confidential information.

17. Miscellaneous

These Terms, together with the rule books of the Programs and the Refund Policy, constitute the entire agreement between the Client and the Company with respect to the Services and supersede all prior agreements and understandings on the subject. If any provision of these Terms is held to be invalid or unenforceable, the remaining provisions will remain in full force and effect. The Company’s failure to enforce any right or provision of these Terms shall not be deemed a waiver of that right or provision. You may not assign these Terms without the Company’s prior written consent; the Company may assign these Terms freely.