Terms of Service

2.1 Financial Risks

Participation in prediction markets and Head-to-Head (H2H) wagering on the platform involves significant financial risk, including the possibility of losing the entire amount staked or invested. All trades, wagers, and market entries are subject to these risks. Bayse nor its staff are not financial or investment advisers and do not provide such services. You use the platform entirely at your own risk and should carefully evaluate whether participation in prediction markets or Head-to-Head challenges is suitable in light of your financial circumstances, investment objectives, and risk tolerance.

2.2 Market Volatility

Market prices on the platform are determined by supply and demand and may be highly volatile. Prices can move significantly and rapidly in response to events, news, user activity, or changes in market liquidity. Past pricing is not indicative of future prices or outcomes.

2.3 Order Execution and Pricing Risk

The platform operates two distinct market engine types: a Central Limit Order Book (CLOB) and an Automated Market Maker (AMM). The applicable engine for each market is always disclosed on the market page within the platform as determined by the market.

CLOB Markets: On CLOB markets, you may specify the price at which you wish your order to be executed. The system will execute your order at your specified price or a better price depending on market movement. If the market price moves in a direction that places you at a disadvantage, your order will not be filled.

AMM Markets: On AMM markets, your order is executed at the price determined by the market at the moment of execution. The price displayed during the order review stage is an estimate only and reflects market conditions at the time of quote generation. Due to factors including the effects of demand and supply, volume of transaction on, trades by other users on the platform, the latency inherent in price broadcast systems, and your connection speed, the final execution price and resulting number of shares credited to your account may differ from the estimated price shown at the review stage. This is a normal and inherent feature of AMM market operation and does not constitute an error, malfunction, or fraud by the Company.

BY PLACING AN ORDER ON AN AMM MARKET, YOU EXPRESSLY ACKNOWLEDGE AND ACCEPT THAT THE PRICE AND SHARE QUANTITY SHOWN DURING ORDER REVIEW ARE ESTIMATES, THAT THE FINAL EXECUTION PRICE IS DETERMINED AT THE MOMENT OF EXECUTION, AND THAT THE COMPANY IS NOT LIABLE FOR ANY DIFFERENCE BETWEEN THE ESTIMATED AND EXECUTED PRICE.

2.4 Latency and App Version

There is an inherent latency of between 1 and 10 seconds between live market price movements and the price displayed on your device, due to factors including backend server load and your internet connection. You are responsible for ensuring you are using the most current version of the Bayse application. Older versions of the application may display stale or inaccurate pricing data. The Company is not liable for any discrepancy between a displayed price and the executed price where such discrepancy arises from your use of an outdated application version or from inherent network latency.

2.5 Liquidity Risk

Markets may have limited liquidity at any given time. Where your order cannot be fully executed due to insufficient market liquidity, the order will not be executed and your funds will be refunded. Bayse does not guarantee the availability of liquidity in any market.

2.6 Finality of Executed Trades

All executed trades are final, irreversible, and non-refundable, except in the following circumstances:

(a) Where an order cannot be fully executed due to insufficient liquidity, in which case the full amount tendered will be reversed to your account;

(b) Where a market is voided or cancelled in accordance with the applicable market rules or Clause [Market Resolution]; or

(c) Where a partial payout applies in accordance with the rules of a specific market that resolves on a 50:50 basis.

Bayse reserves the right to suspend, restrict, void, or discontinue markets at its discretion, including without prior notice, where required by law, regulation, or the applicable market rules.

BY USING THIS PLATFORM, YOU ACKNOWLEDGE AND ACCEPT THAT YOU RISK LOSING THE ENTIRE AMOUNT STAKED OR INVESTED IN ANY MARKET OR WAGER.

3.1 Platform Jurisdiction

The platform is operated by Trence Technologies, Inc. doing business as Bayse Markets, and is primarily intended for users located in jurisdictions where access to and participation in prediction markets and peer-to-peer wagering is lawful. The Company does not represent that the platform, its features, or its content are appropriate or available for use in all jurisdictions.

3.2 User Responsibility for Local Law Compliance

It is the user's sole responsibility to determine whether access to and use of the platform is lawful in their jurisdiction before registering an account or placing any trade or wager. The Company makes no representation and gives no warranty that use of the platform is compliant with the laws of any jurisdiction other than Nigeria. By accessing the platform, you represent and warrant that your use of the platform does not violate any applicable law, regulation, or governmental order in your jurisdiction of residence, location, or citizenship.

3.3 Prohibited Jurisdictions

Access to and use of the platform is strictly prohibited for any person who is:

(a) Located in, ordinarily resident in, incorporated in, or a citizen or national of any country or territory that is subject to comprehensive economic or trade sanctions, including but not limited to sanctions administered by the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury, the United Nations Security Council, or any equivalent sanctions regime applicable under Nigerian law;

(b) Listed on any sanctions list, restricted party list, or denied party list maintained by any governmental or regulatory authority with jurisdiction over the Company or its operations; or

(c) Located in or accessing the platform from any jurisdiction in which the Company has determined, in its sole and reasonable discretion, that offering or permitting access to the platform would expose the Company or its officers to regulatory, legal, or licensing risk.

The Company publishes and maintains a list of Prohibited Jurisdictions on the platform, which may be updated from time to time without prior notice. It is your responsibility to check the current list of Prohibited Jurisdictions before accessing the platform. Access from a Prohibited Jurisdiction constitutes a material breach of these Terms regardless of whether you were aware of the restriction at the time of access.

3.4 Continued Representations

Each time you access the platform, place a trade, make a deposit, or initiate a withdrawal, you are deemed to have re-confirmed the representations in Clause 3 including that you are not accessing the platform from a Prohibited Jurisdiction and that your use of the platform remains lawful in your jurisdiction at that time.

4.1 Resolution Categories

Markets on the platform are resolved through one of two processes, as specified for each market at the time of its creation:

(a) Automated Resolution: Certain markets, including digital & virtual assets, foreign exchange, and designated sports markets, are resolved automatically based on publicly available data feeds from specified third-party sources. The applicable resolution source is disclosed on each market's page.

(b) Manual Resolution: All other markets are resolved by the Company's Events Contracts team following verification of the outcome against the predefined resolution sources and rules for each market. Final sign-off on all manually resolved markets is given by an authorized officer of the Events Contracts department.

4.2 Per-Market Resolution Rules

Every market is created with clearly defined resolution rules, applicable edge case treatments, and one or more specified verification sources. These per-market rules are published on the market page and form part of the binding agreement between you and the Company in respect of that market. By placing a trade in any market, you confirm that you have read and accepted the applicable market rules.

4.3 Fallback Rules for Edge Cases

Each market's rules specify the treatment applicable to edge cases including postponements, cancellations, abandoned events, contested results, and other exceptional circumstances. Where market's rules do not expressly address an arising edge case, the Company's Events Contracts team shall apply the resolution most consistent with the spirit and intent of the market rules, acting in good faith and with reasonable diligence. Possible outcomes in edge cases include, without limitation: extension of the resolution timeline, cancellation of the market, or refund of staked amounts, as determined by the nature of the market and the applicable edge case.

4.4 Resolution Records

Resolution sources, verification evidence, and resolution decisions for all markets are logged and retained in the Company's back-office systems for a minimum period of three (3) years from the date of resolution. These records are available to support dispute resolution processes, audits, and any legal proceedings arising in connection with a market.

4.5 Dispute & Correction Window

Users may challenge a market resolution by submitting a written dispute to the Company within seven (7) calendar days of the date of resolution (the "Dispute Window"). Disputes submitted after the expiry of the Dispute Window will not be considered, except where verifiable evidence in support of the dispute only became publicly available after the expiry of the Dispute Window, in which case the Company may, at its sole discretion, consider a late submission.

A market will only be re-resolved where the user submits verifiable, objective, and uncontested evidence demonstrating that:

(a) the original resolution was incorrect; and

(b) the correct outcome can be clearly established in accordance with the market's stated resolution source and rules.

Submissions that do not satisfy both of the above criteria will not result in re-resolution. The Company's decision following review of a dispute submission is final and binding. Where a market is re-resolved, adjustments to user balances will be made promptly following the corrected resolution.

4.6 Third-Party Data Feed Disclaimer

For automated markets, resolution relies on data sourced from publicly available third-party data feeds. The Company does not guarantee the continuous availability, accuracy, or timeliness of any third-party data feed. In the event of a data feed failure, inaccuracy, or interruption that prevents or affects the correct resolution of a market, the Company's sole obligation to affected users is to void the relevant market and return the staked amounts to users' accounts. The Company is not liable for any additional losses, including anticipated profits, arising from a third-party data feed failure.

5.1 General Obligation

To comply with applicable legal and regulatory requirements, including the Money Laundering (Prevention and Prohibition) Act 2022 and any associated regulations, the Company is required to verify the identity of all its users before processing any transactions. By using the platform, you agree to cooperate fully with all verification requests made by the Company.

5.2 KYC Trigger

New users are required to complete identity verification at the time they sign up. Existing users who are yet to complete their identity verification will be required to do so before carrying out any new transactions. In addition, users may be required to complete advanced identity verification before processing cumulative withdrawals that meet or exceed the applicable verification threshold as published on the platform from time to time, or upon any other transaction activity or pattern that triggers enhanced due diligence requirements under applicable law or the Company's internal AML/CFT policies.

The Company reserves the right to update the applicable verification threshold or the circumstances in which verification is triggered, in response to changes in applicable law or regulatory guidance.

5.3 Required Documentation

You may be required to provide any of the following, without limitation:

(a) Government-issued photo identification (such as a national identity card, international passport, or driver's licence);

(b) Proof of address (such as a utility bill or bank statement dated within three months);

(c) Bank Verification Number (BVN); and/or

(d) Any other documentation the Company or its verification partners may require to complete identity verification in compliance with applicable law.

5.4 Data Retention

Personal and financial information collected for verification purposes, including BVN-derived data, is retained by the Company and processed in accordance with the Company's Privacy Policy and applicable data protection law, including the Nigeria Data Protection Act 2023. BVN data and associated identity records are retained for a minimum period of five (5) years following account closure or the date of the relevant transaction, whichever is later, as required under applicable AML/CFT law.

5.5 Consequences of Non-Verification

Failure to provide required verification documentation within any timeframe specified by the Company may result in one or more of the following: delays in processing withdrawals or transactions, restrictions on account functionality, suspension or closure of your account, and withholding of withdrawals pending completion of verification. The Company will not be liable for any losses arising from delays or restrictions attributable to a user's failure to complete verification.

5.6 Withdrawal Processing Times

Once identity verification has been successfully completed, withdrawals will ordinarily be processed within five (5) minutes of initiation. Where a withdrawal requires manual review, including where the withdrawal amount, pattern, or associated account activity triggers enhanced review under the Company's AML/CFT policies, processing may take up to twenty-four (24) hours. The Company will endeavour to notify users where a withdrawal is subject to manual review.

5.7 Information Sharing

The Company may be required to share user information with banking partners, payment processors, KYC/AML service providers, financial intelligence units, law enforcement agencies, or other governmental or regulatory bodies, where required by applicable law or upon a lawful demand. Where such sharing occurs, the Company will handle your information in accordance with its Privacy Policy.

5.8 Ongoing Compliance

Your continued use of the platform is contingent on your ongoing compliance with applicable KYC, AML/CFT, and sanctions obligations. The Company reserves the right to conduct additional verification checks at any time based on your transaction activity, changes in applicable law, or regulatory requirements. Verification requirements may be updated from time to time, and continued use of the platform constitutes acceptance of any updated requirements.

6.1 Overview

The platform offers a Head-to-Head (H2H) wagering feature that enables users to engage in direct peer-to-peer wagers on the outcome of designated events. H2H wagering is subject to these Terms of Service and to the additional H2H Terms and Conditions published on the platform, which are incorporated into these Terms by reference. In the event of any conflict between these Terms and the H2H Terms and Conditions in relation to an H2H wager, the H2H Terms and Conditions shall prevail.

6.2 How H2H Wagers Work

Users may participate in H2H wagering in one of two ways:

(a) Public Wagers: A user creates a wager and lists it on the H2H marketplace, where it is available to be accepted by any eligible user; or

(b) Private Wagers: A user creates a wager and shares an invitation link directly with a specific user of their choosing.

Once both parties have accepted and joined a wager, the agreed stake amount is deducted from each participant's account and placed into a third-party escrow account for the duration of the wager. The Company facilitates the wager but does not participate in, or take any economic position on, the outcome.

6.3 Claim and Settlement

At the conclusion of the relevant event:

(a) The participant who believes they have won the wager must submit a win claim through the platform;

(b) If the opposing participant accepts the claim, the escrowed funds are released to the winning participant in accordance with the agreed wager terms, less any applicable platform fees; and

(c) If the opposing participant disputes the claim, the funds remain in escrow and the dispute is handled in accordance with Clause 6.4.

6.4 H2H Dispute Resolution

Where a win claim is disputed, either party may initiate the H2H dispute process through the platform. During the dispute process:

(a) Both parties may submit supporting evidence in accordance with the procedures set out in the H2H Terms and Conditions;

(b) An authorized dispute administrator appointed by the Company will review all available evidence alongside the applicable H2H Terms and Conditions and the rules of the relevant wager;

(c) Escrowed funds will remain locked and inaccessible to both parties until a final decision is reached; and

(d) The dispute administrator's decision is final and binding on both parties. Funds will be released in accordance with the dispute administrator's decision promptly following its issuance.

The Company will endeavour to resolve H2H disputes within fourteen (14) calendar days of the initiation of the dispute process, subject to the complexity of the dispute and the availability of evidence from both parties.

6.5 Prohibited Conduct in H2H Wagering

Without prejudice to the general prohibitions in Clause 9, the following conduct is specifically prohibited in H2H wagering:

(a) Creating or accepting a wager using more than one account or in collusion with another user to simulate a genuine peer-to-peer wager;

(b) Submitting a win claim that you know or reasonably ought to know to be false or unsupported by the outcome of the event; and

(c) Any conduct designed to manipulate, delay, or abuse the dispute resolution process.

The Company reserves the right to investigate suspected prohibited conduct, void any wager affected by such conduct, forfeit escrowed funds, and suspend or terminate the accounts of users found to have engaged in prohibited conduct.

7.1 Single Account Obligation

Each user is permitted to hold only one account on the platform. The Company employs device identification technology and cross-references KYC data, including BVN, to detect duplicate accounts. Where duplicate accounts are detected, both or all associated accounts will be automatically suspended pending investigation and may be permanently terminated. Funds held in duplicate accounts are subject to forfeiture.

7.2 API Access and Permitted Automation

The Company operates a public API that permits limited programmatic and automated access to the platform by users. Use of the API is governed by the Bayse API Usage Policy, which is incorporated into these Terms by reference. Permitted uses of automated access include: accessing market data feeds, placing and managing orders within rate limits set out in the API Usage Policy, and other uses expressly authorized thereunder.

The following automated activities remain prohibited regardless of the method used, including via the API:

(a) Automated login, credential stuffing, or brute force attacks on user accounts;

(b) Reverse engineering of the platform's web interface, mobile application, or any non-public systems;

(c) Scraping or harvesting data from the platform outside the scope of the API Usage Policy;

(d) Any automated activity that circumvents, bypasses, or overwhelms the platform's security, access controls, or rate-limiting mechanisms.

7.3 Market Manipulation and Insider Trading

The following conduct is strictly prohibited and constitutes a material breach of these Terms:

(a) Trading on any market while in possession of material non-public information about the outcome or likely outcome of the underlying event, where use of that information would breach a duty of trust, confidence, or legal obligation owed to any person or entity;

(b) Trading on information received from a third party who possesses or obtained such information in breach of a duty of trust, confidence, or legal obligation, where you know or have reason to know that the information was so obtained;

(c) Placing large positions or a series of positions with the intention of artificially moving market prices to the detriment of other users;

(d) Coordinating trades with other users for the purpose of manipulating market outcomes or prices; and

(e) Trading on any market in connection with event fixing, result manipulation, or any other interference with the integrity of the underlying event.

7.4 Monitoring and Investigation

The Company monitors trading activity on the platform for patterns consistent with manipulation, insider trading, multi-accounting, and other prohibited conduct. This monitoring includes automated alerts for unusual position sizes and manual review of flagged accounts and trades. The existence of a monitoring system does not limit the Company's right to take action in respect of prohibited conduct that is identified retrospectively.

7.5 Enforcement

Where the Company identifies or reasonably suspects prohibited conduct under this Clause or Clause 9, the following process applies:

(a) The affected account(s) will be immediately frozen to prevent further activity, and the user will be notified;

(b) The Company will conduct an internal review of the relevant account activity and supporting evidence;

(c) Where the review reveals no prohibited conduct, the account freeze will be lifted and the user notified promptly;

(d) Where prohibited conduct is established, the account will be permanently terminated, and funds held in the account will be forfeited to the Company; and

(e) The Company reserves the right to void any trade or market position, and to claw back any winnings paid out, where it is subsequently established that those trades or winnings arose from prohibited conduct, including conduct that was not detected at the time of the relevant trade.

The Company may cooperate with law enforcement authorities and regulatory bodies in connection with any investigation into prohibited conduct.

8.1 Third-Party Links and Services

The platform may include links to or integrations with third-party websites, platforms, or services ("Third-Party Services"), which the Company does not control, review, or monitor for accuracy, reliability, or compliance with applicable law or privacy standards.

If you access or use Third-Party Services, you do so entirely at your own risk. These Terms of Service cease to govern your relationship with any third party once you leave the platform. The Company is not responsible for any issues, losses, or damages arising from your use of Third-Party Services, or for their content, availability, privacy practices, or security.

Before using any Third-Party Services, you should review the applicable terms and privacy policies of the relevant third party. The inclusion of a link or integration on the platform does not constitute an endorsement or recommendation of the relevant Third-Party Service by the Company.

8.2 Payment Processors

The platform integrates with third-party payment processors to facilitate deposits and withdrawals. These processors operate under their own terms of service and are subject to their own regulatory obligations. The Company is not liable for any payment processing delays, failures, or errors attributable to third-party payment processors, provided that the Company will use reasonable endeavours to assist users in resolving payment issues where possible.

8.3 KYC and Verification Providers

Identity verification on the platform is facilitated by third-party KYC service providers. Bayse is not liable for delays or failures in the verification process attributable to third-party KYC provider outages, data quality issues, or processing delays, provided that the Company will use reasonable endeavours to mitigate the impact of any such delays on affected users.

8.4 Market Data Feeds

Certain markets on the platform are resolved using publicly available data sourced from third-party data feeds. These data feeds are not operated by or under the control of Bayse, and Bayse does not warrant the accuracy, completeness, availability, or continuity of any third-party data feed.

In the event that a third-party data feed used for market resolution is unavailable, inaccurate, materially delayed, or otherwise compromised, Bayse's sole obligation to affected users is to void the relevant market and return all staked amounts to users' accounts. Bayse is not liable for any additional losses, including anticipated profits or opportunity costs, arising from a data feed failure, inaccuracy, or interruption.