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Terms of Use

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The main contract between Prediki, the Open Prediction Market, and its Users and Sponsors.

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§ 1. GENERAL

  1. These Terms govern your use of the Site and form a binding contractual agreement between you, the user of the Site and us, Prediki Prediction Markets GmbH.
  2. You warrant that you are at least 18 years of age and are legally capable of entering into binding contracts. By completing the registration process and using the Services, or by accessing or otherwise using the Site, you agree to be bound by these Terms.
  3. If you do not agree to these Terms, you may not access or otherwise use the Site and the Services. Prediki reserves the right to refuse, suspend or terminate access, at its own sole discretion.

§ 2. DEFINITIONS

In these Terms:

  • Answer means a future event as a potential outcome of a Question.
  • Confidential Question means a Question that is only available for Users expressly invited by the Question Owner, subject to those Users accepting the Non Disclosure Agreement.
  • Content means any and all data, text, images, audio or video material, software, and other information in any medium on the Site.
  • Contributor means a User who, either alone or with other Contributors, attempts to write an analysis for a Question in accordance with its specifications or otherwise adds Content to, or deletes Content from, the Site.
  • Credits means Prediki’s free virtual currency used for Trading.
  • Final Result means an empirically observed event indicating the final Answer to a Question.
  • Intellectual Property means all intellectual property rights, including all copyright, patents, trademarks, design rights, trade secrets, domain names, know-how and other rights of a similar nature, whether registrable or not and whether registered or not, and any applications for registration or rights to make such an application.
  • Incentives means price monies to be paid by Sponsors in advance before the Incentive Period, to be apportioned as Winnings during settlement and paid out to participating Traders.
  • Incentive Period means the time span from the start to the end of an Incentive's effectivity.
  • Incentive Settlement means the point in time specified by the Sponsor when an Incentive is apportioned to Traders, i.e. with final result consensus or with a prediction at the end of the Incentive Period.
  • Member means a User who has completed the registration process and is given access to an expanded set of system functions.
  • Prediki, us, our means Prediki Prediction Markets GmbH, a limited liability corporation under Austrian law, registered in Vienna.
  • Principal means the employer or client of a User who is acting on their behalf.
  • Public Question means a Question that is available to all Users.
  • Question means the summary, specification and all other information compiled by Users detailing the prediction or analysis for an uncertain future event.
  • Question Owner means a User who has first posted a particular Question on the Site.
  • Regulations means the rules for Traders and Trading, for entering or modifying Questions, Answers and other pertinent specifications, and for the determination of Final Results. Here to the Regulations.
  • Services means the platform provided by Prediki allowing Users to connect, communicate, or otherwise interact and which facilitates commercial transactions with other Users.
  • Site means our website located at www.prediki.com (in English language) and at www.prediki.de (in German language).
  • Sponsor means a Member who provides an Incentive for a Question.
  • Terms means these terms of use and the other legal documents referred to in it.
  • Trader means a Member trading the probabilities of the various potential Answers to a Question.
  • Trading means placing virtual bets by using free Prediki Credits.
  • Trading Data means all data originating from transactions concluded with Prediki’s trading mechanism, including quotes, time-stamped prices and trading volumes and any derived and processed information such as charts and indicators.
  • User means a person who gains access to the Site and Services, whether unregistered as a Visitor or as a registered Member in their capacity as a Question Owner, Sponsor, Contributor or Trader.
  • User-contributed Content means any Content produced and provided to the Site or to another User by Users in their capacity as Contributors.
  • Visitor means a person who gains limited access to the Site and Services as an unregistered User.
  • Winnings means a Trader’s share in an Incentive.
  • You means you, the person using the Site and Services.

§ 3. SCOPE OF SERVICE

  1. Prediki provides the Site and Services as a platform for Users to facilitate transactions with other Users to generate predictions and analysis regarding Questions. Prediki only provides the platform, Users acknowledge and agree that any contracts formed through the Services are made between the relevant Users as Question Owners, Sponsors, Traders and Contributors. Prediki does not become a party to any of the transactions in any capacity whatsoever; Prediki is only responsible for collecting advance payments for the Incentive and the apportioning and payout of Winnings but not responsible for any representations regarding payments, returns, warranties, fees, taxes, title, licences, fines, permits, and other terms that may be agreed between the Users.
  2. Since the transactions that occur through the Services are collaborative in nature, almost all Content is provided by other Users and can be corrected or removed by other Users. We are under no obligation to monitor the truthfulness, accuracy or reliability of User-contributed Content appearing on the Site. As such, Prediki will not be liable for any User-contributed Content. All Content is provided on an “as is” and “as available” basis, without any warranties or conditions of any kind either express or implied.
  3. Although we will use all reasonable efforts to ensure that the Services are highly available, temporary interruptions may occur. We reserve the right to withdraw or amend the Services we provide on the Site without notice. We may restrict access to some parts of or the entire Site, from time to time.

§ 4. REGISTRATION INFORMATION AND PASSWORDS

  1. By registering to the Site with your e-mail address, you agree that all information provided during the registration process is true and accurate and you will update this information in order to keep it current, complete and accurate. You must not assign or otherwise dispose of your User account to any third party.
  2. During the registration process, you will be asked to select a password for your User account. You agree to keep your password confidential at all times and must not disclose it to any third party. You agree to be fully responsible for activities that relate to your User account or your password. If you have reason to believe that your password has been obtained by someone else without your consent, you must change it immediately. If this is not possible or if the problem persists, you must inform us immediately to disable your User account.
  3. Members’ registered names are displayed on the Site. Users are encouraged to register with their real name but can use an optional pseudonym, at their sole discretion. Display names can be partially abbreviated via the profile settings. However, Members must provide their real name to Prediki internally for processing payments, for pay-outs of their winnings, and for other administrative requirements. This real name will not be displayed on the public Site.
  4. Users shall maintain only one Member account in relation to their use of the Site and Services. If a second Member account is needed in exceptional exceptional, the Member shall inform Prediki Support. In any case, Trading in a single Question using two or more Trader identities is strictly prohibited and may result in consequences according to § 10.
  5. Members are ranked as “topic experts” based on their Trading results, i.e. pro-rated Winnings per topic. This expert rank is visible in the public internet, Members who do not agree with this publicity must either use a pseudonym or not use Prediki.
  6. In the event that the User is using the Services on behalf of a Principal, then both the User and their Principal will be bound jointly and severally in relation to these Terms. Your Principal will be responsible for your actions, too. In this case, Users warrant that they have full authority to enter into these Terms on behalf of their Principal.
  7. All personal information we obtain about you in connection with the registration process and your subsequent use of the Site and Services is subject to our Privacy Policy.

§ 5. USER-CONTRIBUTED CONTENT

  1. Contributors are legally responsible for any User-contributed Content submitted in response to Questions or to other sections of the Site. For Users’ protection, Prediki advises that you should exercise caution and avoid contributing any Content that may result in criminal or civil liability under Austrian and any applicable laws. Contributors must be aware that authorities and other persons may seek to apply other country laws to Users, including local laws where the User may live or where the User-contributed Content was viewed or edited. Prediki cannot offer any protection, guarantee, immunity or indemnification from any such actions.
  2. Any opinions, advice, statements, services, offers, or other information expressed or made available by Users are those of the respective User and not of Prediki.
  3. Similarly, Prediki does not represent or guarantee the truthfulness, accuracy, or reliability of any User-contributed Content. Any material, including any User-contributed Content, on the Site and Services may be out of date or incorrect at any given time and we are under no obligation whatsoever to update or rectify such material.

§ 6. LICENSING FOR USER-CONTRIBUTED CONTENT

  1. Users grant broad rights to the general public to use, distribute and create derivative works from User-contributed Content. When Users post User-contributed Content that they hold the copyright or related right to, Users hereby agree that such User-contributed Content is licensed under CCBY-SA3.0. Users hereby acknowledge that the licence allows commercial usage of User-contributed Content, provided such use is compliant with the Terms contained therein.
  2. In the event that Contributors are referring to, citing, quoting or otherwise incorporating copyright and related rights of another person, Contributors must ensure that such content is attributed back to the author or creator. Attribution can be by way of hyperlink or URL to the original source of the content or to the stable online copy of the content that is freely accessible or through a list of authors or creators.
  3. Contributors warrant that their User-contributed Content is aligned with the CCBY-SA3.0 licence. If attribution is required, Contributors must provide attribution as may reasonably be necessary.
  4. Unless otherwise incompatible, Contributors acknowledge and agree not to unilaterally revoke or seek invalidation of any waiver or licence granted under these Terms for User-contributed Content, even in the event that the User’s account is cancelled or terminated by Prediki.
  5. Reuse of the User-contributed Content hosted on the Site and Services must be in compliance with the CCBY-SA3.0 licence. Attribution may be made in the same manner as outlined in clause 3 above. In the event that the User-contributed Content is imported to the Site and Services, Users agree to indicate any additional attribution requirements for other Users.
  6. When Users modify or amend User-contributed Content obtained from the Site, Users agree to licence such modified or amended User-contributed Content under CCBY-SA3.0, as amended.

§ 7. USER AGREEMENT AND NON-DISCLOSURE AGREEMENT

  1. Users agree that in using the Site and Services in the capacity of Question Owner, Sponsor, Trader or Contributor and in their dealings with each other, they are bound by the terms of the User Agreement.
  2. Users acknowledge that they will not be granted access to any Confidential Question by Prediki unless being invited by the Question Owner and confirming their acceptance of the Non Disclosure Agreement.
  3. If a Question Owner revokes a User’s invitation to a Confidential Question, Prediki will block further access to the Confidential Question by such User.

§ 8. PREDIKI INTELLECTUAL PROPERTY

  1. Nothing in these Terms constitutes a transfer of any Intellectual Property rights from Prediki to Users. Prediki owns and retains all proprietary rights to the Site and the Services provided through the Site, and all associated Intellectual Property rights.
  2. Users are permitted to use the Site and Services only as authorised by these Terms. As a User, you are granted a limited, non-exclusive, revocable, non-transferable right to use the Site and Services, subject to these Terms.
  3. Users acknowledge that Trading Data is produced by Prediki via its proprietary trading mechanism and agree that Trading Data shall not be deemed User-contributed Content. Use of the Trading Data is governed by the Trading Data Agreement.

§ 9. SPONSORING, FEES AND PAYMENTS

  1. All applicable fees and payment conditions are herewith agreed and will be charged at the prices and rates in accordance with our list of Fees, as amended from time to time.
  2. Prediki provides Sponsors with the ability to pay for incentives, commissions and other fees by various payment methods.
  3. Sponsors are responsible for any taxes and banking fees resulting from their payment, including costs for re-charges, if any.
  4. All payments through third party payment service providers are subject to their respective terms of service. Prediki is not responsible for anything contained therein.
  5. Incentives become valid and visible for other Users only after the Sponsor's full payment has been received in Prediki's bank account.
  6. An Incentive can be cancelled by the Sponsor at any time prior to the start of the Incentive Period. In this case, a cancellation fee applies.
  7. As a Sponsor, you consent to appear in Prediki's customer list with your company name. Such consent may be revoked at any time giving notice via e-mail.
  8. Traders acknowledge that for the determination of their Winnings, each Incentive will be apportioned by Prediki’s algorithms according to the relevant participants’ Trading results and the parameters set by the Sponsor. In the case of mathematical, technical or conceptual errors, Traders agree to succumb without further appeal or legal recourse to the final settlement decision determined by Prediki neutrally and in good faith on a reasonable best efforts basis.
  9. Prediki provides Users with the ability to pay their Winnings out to their personal bank account. Users are responsible for any taxes and banking fees associated with their Winnings and pay-outs. Prediki reserves the right to delay the payout of a Winning in case there is reasonable doubt regarding the finality of the Incentive collected from a specific Sponsor, for reasons including, but not limited to, charge-back risk, until finality is ascertained.

§ 10. MANAGEMENT OF THE SITE AND SERVICES

  1. Prediki rarely intervenes in User decisions regarding the requirements and specifications relating to a Question or the contribution of Content. In an unusual case, Prediki may in its sole discretion, or may be requested by Users to, address any problematic Users. Prediki reserves the right, but does not have the obligation to:
    1. investigate a User’s use of the Services to determine a potential violation of these Terms, the Regulations, the requirements and specifications of a Question, or any applicable laws and regulations;
    2. detect, prevent or otherwise address security, technical or conceptual issues and any allegations of fraud, collusion or manipulation by a User;
    3. in our sole discretion, ban, refuse, cancel, disable, or restrict access of, Users who violate these Terms;
    4. take legal action against Users who violate these Terms;
    5. report Users who violate these Terms to proper authorities; manage the Services in a manner designed to facilitate its proper functioning and to protect the rights, property and safety of Prediki, its Users, partners and the general public.
  2. In the event that Prediki introduces and enforces a dispute resolution process, Users agree to comply with the final decisions of such relevant dispute resolution bodies that are established or engaged in order to settle any User issues that may arise. Such decisions will be final and binding on all parties involved.
  3. Additionally, Users acknowledge that the value, reputation and goodwill of Prediki depend in part on their performance of the rights and obligations attaching to these Terms. We have the right to protect the value, reputation and goodwill of Prediki, including taking necessary action to do so.

§ 11. EFFECTS OF CANCELLATION

  1. In the event that a User account is cancelled, the individual is then prohibited from creating or using another User account unless prior written consent is obtained from Prediki.
  2. The User may forfeit any Incentives earned if they are found to have accrued them through fraudulent means or a violation of the Terms or the Regulations.
  3. We shall not be liable to you or any third party for any claims or damages arising out of any termination or suspension or any other actions taken by us in connection therewith.
  4. In the event of termination or suspension, Prediki may in its sole discretion elect to delete any of your User-contributed Content including Questions from the Site and Services. In any such event, Prediki may also choose to restore certain deleted data types later.
  5. We may give prior or subsequent notice of cancellation by posting it on the Site or by sending a communication to any address (email or otherwise) that we have for you in our records.

§ 12. DISCLAIMER

  1. This disclaimer of liability applies to any damages or injury caused by any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communication line failure, theft, or destruction or unauthorized access or, alteration of or use of records in connection with the use or operation of the Service, whether for breach of contract, tortious behaviour, negligence or any other cause of action.
  2. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the Services or the Content contained on the Site for any purpose. Any reliance you place on such information is therefore strictly at your own risk. We disclaim any express or implied warranty representation or guarantee as to the effectiveness or profitability of the Services or that the operation of our Site will be uninterrupted or error-free. We are not liable for the consequences of any interruptions or error in the Site or the Services.
  3. Despite the fact that Prediki hosts Content that relates to professional matters, including but without limitation medical, legal, or financial topics, such content is to be used as general information only. None of the Content is to be deemed as professional advice. Prediki recommends Users to seek relevant professional advice from qualified professionals prior to acting on any of the Content provided on the Site and Services.
  4. The Site and its Content may link to other websites, services or resources on the Internet. Such other websites are not under our control. We are not responsible for the content of those sites. Any links to external websites are for your convenience only, and the inclusion of such a link to external websites does not imply our endorsement of those websites. When you access other websites on the Internet, you do so at your own risk.

§ 13. LIMITATION OF LIABILITY AND INDEMNITY

  1. You agree that we shall not be liable for any damages suffered as a result of using the Services, copying, distributing, or downloading Content from the Site.
  2. In no event shall we be liable for any indirect, punitive, special, incidental or consequential damage (including loss of business, revenue, profits, use, privacy, data, goodwill or other economic advantage) however it arises, whether for breach of contract or in tort, even if it has been previously advised of the possibility of such damage.
  3. We do not endorse any User-contributed Content, and expressly disclaim any and all liability in connection with them. In no event shall we be liable for any claims by a third party in tort or contract including, but not limited to, any misleading statements made or incorporated into any User-contributed Content created using the Site and Services. It is your sole responsibility to verify or ensure the accuracy of any User-contributed Content.
  4. You have sole responsibility for adequate security protection and backup of data or equipment used in connection with your usage of the Site and Services and will not make a claim against us for lost data, re-run time, inaccurate instruction, work delays or lost profits resulting from the use of the Site and Services.
  5. Without limiting the foregoing, in no event will our aggregate liability to you exceed, in total, the amounts paid by you to us.
  6. As a condition of your access to and use of the Site, you agree to indemnify Prediki and its successors and assigns for all damages, costs, expenses and other liabilities, including but not limited to legal fees and expenses, relating to any claim arising out of or related to:
    1. your unlawful or otherwise improper access to or use of the Site and Services; or
    2. your breach of these Terms or the Regulations or any applicable law or the rights of another person or party.
  7. This indemnification section survives the termination or cancellation of your account, and applies to claims arising both before and after the termination or cancellation of your account.

§ 14. NOTICE

  1. By using the Site, you accept that communication with us will be mainly electronic. We will contact you or provide you with information by email and by posting notices on the Site.
  2. You agree that all contracts, notices, information and other communication we may provide electronically comply with any legal requirements that such documents are in writing.
  3. Notice will be deemed received and properly served immediately when posted on the Site, 24 hours after an email is sent, or 3 days after the date of posting any letter. As proof of service, it is sufficient that:
    1. For letters, the letter was properly addressed, stamped and placed in the post; and
    2. For emails, the email was sent to the specified email address.

§ 15. NO WAIVER

  1. If we fail, at any time, to insist upon strict performance of your obligations under these Terms, or if we fail to exercise any of the rights and remedies we are entitled to under these Terms, this will not constitute a waiver of such rights or remedies and it will not relieve you from compliance with your obligations.
  2. If we waive a default, it does not constitute a waiver of any subsequent defaults.
  3. No waiver is effective unless it is expressly stated by us to be a waiver and is communicated to you in writing.

§ 16. FORCE MAJEURE

We shall be under no liability to you in respect of anything that, if not for this provision, would or might constitute a breach of these Terms, where this arises out of circumstances beyond our control, including but not limited to acts of god, warfare, natural disasters, accidents, and malicious damage.

§ 17. ENTIRE AGREEMENT

  1. These Terms, and the documents expressly referred to in them, constitute the entire Agreement between you and Prediki, and supersede all previous discussions, correspondence, negotiations, previous arrangements, understanding or agreement between us relating to the Site.
  2. We each acknowledge that, in entering into these Terms, neither of us relies on, and subsequently will have any remedies for, any representation or warranty that is not set out in these Terms.

§ 18. GOVERNING LAW AND JURISDICTION

These Terms are governed by the laws of Austria and each party submits to the jurisdiction of the courts of Vienna, Austria.

§ 19. UPDATES TO THESE TERMS

  1. We reserve the right, in our sole discretion, to change, modify, add or remove any part of these Terms, in whole or in part, at any time. Notification of the changes to these Terms will be posted on the Site and will be effective immediately, unless expressed otherwise.
  2. It is your sole responsibility to periodically check these Terms for any changes. If you do not agree with any of the changes to these Terms, it is your sole responsibility to unsubscribe from the Site and Services. Your continued use of the Site and Services will be deemed as your acceptance thereof.
  3. We may assign or sub-license any of our rights or obligations under these Terms at any time, without obtaining your consent.

Last updated on: January 23, 2013.

Further documents

For convenience only, here is a list of other legal and regulatory documents referenced in these Terms of Use:

  1. User Agreement -- between Users as Sponsors, Traders, Question Owners, and Contributors
  2. Non Disclosure Agreement -- between Users as Confidential Question Owners and Invited Users
  3. Creative Commons Attribution-ShareAlike 3.0 Unported
  4. Trading Data Agreement
  5. Regulations
  6. Privacy Policy
  7. Fees