← Refract Funding

Terms of Service

Last updated July 17, 2026.

These Terms of Service ("Terms") are a binding agreement between you and Refract Funding, the operator of refractfunding.com ("Refract Funding", "we", "us", or "our"). They govern your access to the Refract Funding website, simulated-trading service, competitions, paid Evaluations, funded program, affiliate program, and related services (collectively, the "Service"). By creating or using an account, buying or starting an Evaluation, or otherwise using the Service, you agree to these Terms and any applicable Program Rules or Competition Rules, and acknowledge our Privacy Policy and Risk Disclaimer. If you do not agree, do not use the Service.

Important: every trade, fill, position, balance, and account on Refract Funding is simulated. Evaluation fees are real payments. A live leaderboard discount reduces an eligible purchase and has no cash value; funded-program payouts and affiliate commissions may involve real value. You never receive a brokerage or exchange account and never own a position placed in an underlying prediction market through the Service.

1. Eligibility and account requirements

  • You must be at least 18 years old, the age of legal majority where you live, and any higher minimum age that applies to the Service in your location.
  • You may use the Service only where doing so is lawful. You must not use it if you are subject to applicable sanctions or are otherwise prohibited by law. Features, purchases, rewards, and payouts may be unavailable in some locations.
  • Refract Funding does not permit account registration or sign-in from an IP address geolocated to a country or territory subject to comprehensive U.S. sanctions or embargoes administered by the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC"), as updated from time to time, or another location we are legally required to restrict. We use IP-based geolocation and may require additional location or identity verification to enforce this restriction. You must not use a VPN, proxy, relay, or other method to evade these controls. IP geolocation is approximate; if you believe you were blocked in error, contact support@refractfunding.com.
  • You may maintain only one personal account unless we approve otherwise in writing. Your account may not be sold, transferred, shared, or operated for another person.
  • You must provide accurate information, keep it current, protect your credentials and payout destinations, and promptly tell us about suspected unauthorized access. You are responsible for activity under your account to the extent permitted by law.
  • We may require email, phone, age, identity, location, or other legally required eligibility verification before allowing access to a feature, funded account, competition reward, or payout. Tax or payment verification applies only where relevant to a purchase or real payment.

2. The Service is a simulation

Refract Funding provides a simulated-trading and performance-evaluation service using market data associated with third-party venues such as Kalshi and Polymarket. Simulated funds have no cash value and cannot be deposited, withdrawn, transferred, or used to place a real market order. Available simulated markets currently span categories such as sports, politics, economics, and crypto event markets, plus simulated perpetual futures; we may add, change, suspend, or remove any market, category, or instrument at any time without notice. Refract Funding does not accept user trading deposits or execute or custody a user's real market position, and it does not provide brokerage, exchange, or investment-advisory services. Nothing on the Service is investment, financial, legal, accounting, or tax advice, and no content is a recommendation to enter any real transaction.

Refract Funding is independent from Kalshi and Polymarket unless we expressly say otherwise. References to their names, markets, prices, or marks do not imply that they sponsor, endorse, or administer Refract Funding.

3. Public profiles and competitions

Signed-in participation may create a public trader profile and leaderboard entry. Public information can include your display name, avatar, Refract Funding user identifier, linked Discord or X username, join date, rank, simulated performance statistics, positions, combinations, and trade history. Do not use a display name or avatar you do not want shown publicly.

A free simulator competition may offer live Evaluation purchase discounts based predominantly on skill and the scoring method displayed for the applicable season. No purchase is necessary, and buying an Evaluation does not improve your competition score. Scores may include clearly disclosed promotional adjustments, such as eligible Discord invite rewards and verified X repost rewards. During an active season, an account qualifies only while it is within the displayed top percentage of ranked accounts and its P&L is strictly greater than $0. The rank cutoff is rounded up to a whole rank. Eligibility changes with the live leaderboard and is checked again when checkout begins. The Season Details control the timeframe, simulator starting balance, top percentage, discount percentage, eligible tier, scoring details, and tie-breakers. Finalization marks the season ended and resets every free simulator contest account to the configured starting balance and $0 season P&L, but creates no post-season discount or award.

A live leaderboard discount is personal to the eligible account, non-transferable, and has no cash value or cash substitute. It may apply to each eligible checkout of the configured Evaluation tier while the season remains active and stacks additively with one valid affiliate code, capped at a 100% combined discount. No new discounted quote is created after the season ends. A checkout quote created while eligible keeps its displayed fixed price until completion, replacement, or expiry, but no durable coupon carries forward. Discounts remain subject to current server-side eligibility, regional availability, fair-play review, and applicable law.

4. Program Rules and rule snapshots

The current Program Rules explain the simulator, Evaluation objectives, trading gates, fees, drawdown, consistency, funded-account requirements, and payout mechanics. Those rules are incorporated into these Terms. Buying an entry does not freeze its rules. Review the displayed rules immediately before starting; the Service creates a quantitative rule snapshot when the Evaluation or funded account starts.

A started account ordinarily continues under its snapshot, but the Service allows an authorized, audited administrative re-sync to current rules. We may use a re-sync when reasonably necessary to correct a clear error, comply with law, address a material risk or integrity issue, or apply a disclosed program-wide change. A re-sync can change limits or drawdown and, if expressly forced by an administrator, can cause a later rule breach. Where practical, we will notify affected users of a material adverse re-sync and provide any remedy required by law. We will not use a re-sync solely to avoid an already-earned, valid result or payment. If these Terms conflict with a rule snapshot on a legal or contractual issue, these Terms control; the current snapshot controls its account-specific calculations.

Marketing copy, examples, estimates, social posts, and support messages do not alter the Program Rules or guarantee a result. You are responsible for understanding the rules before you trade.

5. Evaluation purchases and refunds (final sale)

  • An Evaluation fee is a one-time payment for one personal entry to the selected simulated skill challenge. It is not a deposit, investment, wager placed on a market, trading balance, or purchase of a security or market position. There is no automatic renewal.
  • Checkout is handled by NOWPayments, a third-party cryptocurrency payment processor. The checkout page shows the amount due in U.S. dollars and any valid live leaderboard, sitewide, or affiliate discount and account credit before you pay; the hosted invoice then converts that amount to the cryptocurrency you choose at the exchange rate the processor quotes at payment time. Blockchain network fees are paid by you in addition to the invoice amount. You authorize NOWPayments and Refract Funding to process the total amount displayed before you confirm the payment. Cryptocurrency transfers are irreversible once broadcast — send only the exact currency and amount the invoice requests.
  • Partial payments and overpayments become account credit. If a payment settles for less than the invoice amount, the verified U.S.-dollar value actually received is credited to your Refract Funding account instead of granting the entry; if it settles for more, the excess is credited. Account credit is applied automatically to your next Evaluation purchase (any account size), is denominated in U.S. dollars at the value verified when the payment settled, does not accrue interest, and is not withdrawable or redeemable for cash or cryptocurrency except where required by applicable law.
  • All Evaluation purchases are final. Once an entry is purchased, it is not refundable under any circumstances — including an entry purchased by mistake, an entry that is never started, and an entry that fails, breaches a rule, or expires — except where a refund is required by applicable law. If you believe you purchased an entry in error, contact support@refractfunding.com promptly; at our sole discretion we may offer a replacement entry, but this is never guaranteed and is not a refund.
  • If the displayed rules materially change after purchase but before you start, review the new rules and contact support before using the entry if you do not accept them. An available remedy may include a replacement entry; a refund is provided only where required by applicable law.
  • If a material Service error prevents us from providing the evaluation, we may provide a correction, restart, replacement entry, or account credit. A refund is provided only where required by applicable law. Nothing here limits a mandatory cancellation or refund right available to you under applicable law.
  • A refund, payment reversal, or payment dispute required by law revokes the related entry. If the entry has already been used, we may end the associated Evaluation, void its result, reverse related affiliate commissions, and suspend affected funded access or payouts. Contact us before initiating a chargeback so we can investigate; this does not limit any lawful right to dispute an unauthorized or incorrect charge.

6. Evaluation results and funded-account review

An Evaluation is conducted entirely with simulated funds. Meeting its automated objectives produces a passing result, but passing does not guarantee a funded account. Funded access is a separate, limited-capacity program subject to identity and eligibility checks, regional and legal availability, fair-play and anti-fraud review, payment status, risk review, and our reasonable program controls. A pass creates no right to employment, capital, a real trading account, or a payout.

Where offered, a "funded account" is still a simulated account. It may allow you to request a non-guaranteed payout calculated as a share of eligible simulated profits under the applicable rule snapshot. It gives you no ownership of Refract Funding's funds and no legal or beneficial interest in any real trade, hedge, wallet, account, or position held by Refract Funding or anyone else.

7. Our trading and conflicts

Refract Funding and its affiliates may, in their sole discretion, trade or hedge for their own accounts, including in markets referenced by the Service. Any such activity is independent, conducted for their own benefit and risk, and need not correspond to any user's simulated activity. You cannot direct it and have no claim to it. Refract Funding's own risk decisions do not convert your simulated activity into real trading or create a fiduciary, agency, partnership, employment, or advisory relationship.

8. Competition discounts, payouts, destinations, and taxes

A live leaderboard position and checkout preview may change. The server checks rank, positive P&L, season status, configured tier, and other eligibility when checkout begins under the applicable Competition Rules. A live discount is not a cash payment or payout, ends with the season, and is not issued from final standings.

Funded-program payout requests, affiliate commissions, and other conditional rewards remain subject to the applicable rules, minimums, caps, cadence, available program capacity where applicable, payment status, a flat-book requirement where applicable, identity and legally required eligibility screening, tax documentation, fair-play review, and data or system-error review until finally approved. A displayed balance, simulated profit, estimate, request, or pending approval is not cash held for you and does not by itself create a payment obligation.

You are responsible for providing and verifying an eligible payout destination. Blockchain and other external transfers may be irreversible; we are not responsible for loss caused by an inaccurate address or network you supplied, except to the extent caused by us or otherwise required by law. You are responsible for reporting and paying taxes associated with payments you receive. We may request tax forms, withhold amounts, or report payments when legally required.

9. Fair play and prohibited conduct

You must not, directly or through another person:

  • create or coordinate multiple accounts, share accounts, impersonate someone, or evade eligibility controls;
  • collude, wash trade, manufacture volume, coordinate offsetting activity, manipulate scoring, self-refer, or abuse the competition, affiliate, invite, Evaluation, or payout programs;
  • exploit stale or erroneous data, latency, feed gaps, pricing or settlement errors, security weaknesses, or any behavior you know or reasonably should know is unintended;
  • use bots, scripts, scraping, automated access, or high-volume requests unless we have authorized them in writing; interfere with the Service or bypass a rate, access, regional, sales, or risk control;
  • reverse engineer or misuse the Service, introduce malicious code, infringe intellectual-property or privacy rights, harass others, or use the Service for an unlawful or fraudulent purpose; or
  • use stolen payment credentials, initiate a fraudulent dispute, or provide a payout destination you do not control.

Other forms of misconduct which are not listed here may also result in denial of our services.

We may investigate suspected violations and preserve relevant records. After a reasonable review, we may reject or reverse activity, remove promotional credit, disqualify a result, withhold or reverse an unpaid reward, restrict trading, suspend or close an account, or refer conduct to a payment provider or authority. We will not limit a non-waivable right or withhold an amount the law requires us to pay.

10. Data, estimates, outages, and corrections

Third-party data and every displayed price, order book, fill, fee, balance, rank, profit-and-loss amount, objective, payout estimate, and status are provided on a best-efforts basis. They may be delayed, cached, interrupted, incomplete, unavailable, or wrong. Simulated fills may differ materially from executable real-world trades. The Service may experience maintenance, outages, latency, or data-feed and software failures.

We may correct, reprice, rescore, void, or reverse an erroneous simulated quote, fill, settlement, balance, result, reward, or payout request. Our server-side records control over a transient screen display, subject to your right to contact us about a suspected error and any right that cannot lawfully be waived.

11. Third-party services

The Service may link to or depend on services operated by Google, Discord, X, NOWPayments, Cloudflare, market-data providers, payout providers, and others. Their services are governed by their own terms and privacy notices. We do not control and are not responsible for a third party's service, content, availability, or acts, but this does not limit responsibility we cannot disclaim under law. Your use of a third-party service may require a separate account and agreement with that provider.

12. Intellectual property and feedback

Refract Funding and its licensors own the Service, software, design, text, graphics, and other content, excluding third-party content and marks. Subject to these Terms, we grant you a limited, personal, revocable, non-exclusive, non-transferable license to use the Service for its intended purpose. You may not copy, sell, sublicense, or create derivative works from the Service except as law permits.

You retain rights in content you submit, such as a display name or avatar. You grant us a worldwide, non-exclusive, royalty-free license to host, reproduce, and display that content as needed to operate and promote the Service. You represent that you have the rights needed to provide it. If you send feedback, you permit us to use it without restriction or compensation.

13. Affiliate program

Affiliate access is subject to approval and any terms displayed in the affiliate dashboard. Affiliates must make truthful disclosures of their relationship with Refract Funding, comply with advertising and endorsement laws, and must not use spam, misleading earnings or payout claims, self-referrals, impersonation, trademark abuse, or prohibited paid traffic. Discounts and commissions are calculated on eligible, finally paid purchases and may be reversed with refunds, disputes, fraud, or rule violations. Affiliate balances are not guaranteed until approved and paid, and applicable taxes are the affiliate's responsibility.

14. Suspension, termination, and changes

You may stop using the Service and may delete your account through account settings. We may suspend features or terminate access when reasonably necessary for security, maintenance, legal compliance, payment risk, program capacity, or a suspected or actual breach of these Terms. Where practical, we will provide notice and an opportunity to address the issue. If we discontinue an unused paid entry for reasons unrelated to your breach, we will provide an appropriate replacement entry, or a refund only where required by law.

We may change prospective pricing, features, and rules. Started-account rule changes are governed by the snapshot and re-sync disclosures in Section 4. We may update these Terms by posting a new date and, for material changes, providing notice where reasonably required. Changes apply prospectively; continued use after they take effect means you accept them.

15. Warranty disclaimer

To the maximum extent permitted by law, the Service is provided "as is" and "as available". Refract Funding disclaims implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement, and does not warrant uninterrupted, secure, or error-free operation, any particular result, or the availability of a reward, funded account, or payout. Nothing in these Terms excludes a warranty or consumer guarantee that cannot lawfully be excluded.

16. Limitation of liability

To the maximum extent permitted by law, Refract Funding and its affiliates, officers, employees, contractors, and agents will not be liable for indirect, incidental, special, exemplary, consequential, or punitive damages, or for lost opportunities, profits, data, goodwill, or simulated gains. Their total aggregate liability arising from the Service will not exceed the greater of US$100 or the fees you paid Refract Funding during the 12 months before the event giving rise to the claim.

These limits do not apply to fraud, willful misconduct, gross negligence where it cannot be limited, death or personal injury caused by negligence, violation of non-waivable privacy or consumer rights, or any other liability that applicable law does not permit us to limit. Some jurisdictions do not allow certain exclusions, so some of this section may not apply to you.

17. Indemnity

To the extent permitted by law, you will indemnify Refract Funding against third-party claims and reasonable costs arising from your unlawful use of the Service, your content, or your material violation of these Terms. This obligation does not cover claims caused by Refract Funding and does not require a consumer to indemnify Refract Funding where prohibited by law. We will provide prompt notice and allow you to participate in the defense, while retaining control over settlement that imposes an obligation on us.

18. Disputes

Before filing a formal claim, please email support@refractfunding.com with a description of the issue and requested resolution. We will try in good faith to resolve it informally. If it cannot be resolved, either party may pursue remedies in a court or tribunal that has jurisdiction under applicable law. Nothing in these Terms requires arbitration, waives access to small-claims court, or waives a class or representative right where such a waiver has not been expressly and lawfully agreed.

These Terms and any dispute arising out of or relating to them or the Service are governed by the laws of the State of Texas, excluding its conflict-of-laws rules, except where the mandatory consumer-protection or other law of your place of residence applies and cannot lawfully be waived. Subject to those mandatory rights, including any right to bring a claim in your local courts or a small-claims court, a claim may be brought in the state or federal courts located in Texas, and both parties consent to their jurisdiction.

19. General terms

These Terms, the Privacy Policy, Risk Disclaimer, applicable Competition Rules, Program Rules and rule snapshot, and any additional terms presented for a specific promotion or feature form the entire agreement about the Service. If a provision is unenforceable, it will be narrowed only as much as necessary and the rest will remain effective. A failure to enforce a provision is not a waiver. You may not assign these Terms without our consent; we may assign them in connection with a reorganization, financing, merger, sale, or transfer of the Service, subject to applicable law. Headings are for convenience. Electronic notices and records satisfy written-form requirements to the extent permitted by law.

20. Contact

The Service is operated by Refract Funding. Questions about these Terms, billing, or the Service can be sent to support@refractfunding.com.