Terms of Service

Papermarkets is a paper trading game built on prediction markets. You get a balance of virtual money, you buy and sell positions on real-world events at live prices, and your results are ranked against other players on a leaderboard.

There are two places to play. The global competition is a monthly season everyone shares, with a fixed starting balance and a leaderboard that resets when the season ends. A game is a private contest you or someone else created, with its own categories, starting balance, end date and members.

The service is free. We do not charge for accounts, games or trades, and we do not sell anything inside the product.

Nothing on Papermarkets — prices, charts, leaderboards, other players' positions, or anything we write — is investment, legal or tax advice, or a recommendation to trade anything anywhere. We are not a broker, an exchange, or a financial institution, and we are not regulated as one.

Doing well here does not mean you would do well with real money, and it is not a prediction that any event will happen. If you go on to trade real prediction markets or anything else, that is entirely your own decision and your own risk.

You must be at least 13 years old. If you are under the age of majority where you live, you may only use Papermarkets with a parent or guardian's permission. You also need a Google account, because that is the only way to sign in.

Anyone can sign up. We can still decline or withdraw access — see below. You are responsible for making sure using a simulated trading game is legal where you are; if it is not, do not use it.

You sign in with Google, through our authentication provider, Clerk. We never see or store your Google password. Keeping your Google account secure is your responsibility — anyone who can sign in to it can sign in here.

When you first join, you choose a username and an avatar. Your username has to be unique and it is how you appear everywhere on the site. Do not pick one that impersonates somebody else, implies you are affiliated with Papermarkets or another organisation, is hateful or obscene, or is chosen to harass someone. We can change or reclaim a username that breaks these rules.

One person, one account. See the next section for why that matters.

Your profile page is public. Anyone with the link can read it without signing in — the address is /u/global/p/your-username — and leaderboards show your username to everyone playing.

A public profile shows your username, display name, avatar, when you joined, your rank, your portfolio value and return, your open and closed positions, your recent trades, and your portfolio history.

Your email address, your uninvested cash balance and your account's internal id are never shown. The full picture is in our Privacy Policy.

A leaderboard is only worth playing on if the ranking means something. So, while using Papermarkets, do not:

• Create more than one account, or use someone else's, to improve your standing, claim extra starting balances, or fill out a private game.
• Trade with scripts, bots or any other automated tool. Trades should be placed by a person, in a browser.
• Scrape the site, hammer our API, or otherwise place load on the service beyond ordinary use.
• Exploit a bug, a mispriced market, a settlement error or any other defect to gain a position or a rank you could not otherwise have. If you find one, tell us — we would much rather hear from you.
• Harass, threaten or abuse other players, or use a username, game name or game description to do it.
• Attempt to break, probe or gain unauthorised access to the service, other players' accounts, or the systems behind either.

Anything you type that other people can see — usernames, game names, game descriptions — is yours, but you give us permission to display it on the site. We can remove it.

The markets, prices and resolutions you see come from third-party prediction market providers — currently Polymarket and Kalshi, read through a data service we host ourselves. We are not affiliated with, endorsed by, or acting for either provider.

We pass that data through as we receive it, and it can be late, incomplete, or simply wrong. Prices can lag the real market. A market can be resolved by the provider in a way you disagree with. A market can disappear from our catalog, or stop being tradable here, without notice. Your simulated orders fill at the last price we hold, which may not be the price anywhere else at that moment; if that price is too old, we reject the order rather than fill it at a stale number.

We do not guarantee the accuracy, completeness, timeliness or availability of any market data, and we are not responsible for what the provider does with the markets it lists.

Papermarkets is a game under active development, and keeping it fair and working sometimes means intervening. We may:

• Start, end, freeze or reset a competition season, and reset the balances and leaderboards that go with it.
• Correct, reverse or void trades, positions and settlements that resulted from a bug, a bad price or a provider error.
• Change starting balances, market coverage, game rules and how ranking works.
• End, remove or edit a game, including one you created.
• Suspend or delete an account that breaks these terms, and remove any content on it.
• Change, suspend or discontinue any part of the service, or all of it, at any time.

Because none of this involves real money, none of it costs you anything — but you should know it can happen, and that virtual balances, positions, ranks and history are not guaranteed to survive. There are also no off-site backups today, so a failure of the server could lose them outright. Do not treat Papermarkets as the only record of anything you care about.

You can stop using Papermarkets whenever you like, and delete your account yourself from your account settings. What deletion erases, and what stays on the board anonymously, is set out in the Privacy Policy.

We can suspend or end your access if you break these terms, or if we stop running the service.

Papermarkets is provided “as is” and “as available”. To the fullest extent the law allows, we disclaim all warranties, express or implied, including merchantability, fitness for a particular purpose and non-infringement.

We do not promise the service will be uninterrupted, secure, error-free, or that data, prices, balances, positions or history will be accurate or preserved. It runs on a single server, it is early, and it will sometimes be down.

To the fullest extent the law allows, Mo Systems LLC and anyone working on Papermarkets will not be liable for any indirect, incidental, special, consequential or punitive damages, or for any loss of data, profits, goodwill or opportunity, arising out of your use of the service.

Our total liability to you for any claim relating to Papermarkets is limited to one hundred US dollars (US$100). The service is free and involves no real money, which is why that number is what it is.

Some places do not allow these exclusions. Where that is true, they apply to you only as far as the law there permits.

We will update these terms as the product changes. When we do, we change the “last updated” date at the top of this page, and for a change that materially affects you we will say so in the product before it takes effect. Continuing to use Papermarkets after a change means you accept the new terms.

These terms are the whole agreement between you and Mo Systems LLC about Papermarkets. If a court finds part of them unenforceable, the rest still stands. If we do not enforce something straight away, we have not given up the right to enforce it later. You may not transfer your rights under these terms; we may transfer ours if the service changes hands.

These terms are governed by the laws of New York, United States, without regard to conflict-of-laws rules, and disputes will be heard in the courts there.

Questions about these terms, a username, a bug you found, or anything else: write to mosystemsllc@gmail.com.