Terms of Service

These Terms of Service ("Terms") govern your access to and use of Bishop ("Platform"), a Decentralized Prediction Market operated by Bishop ("we", "us", or "our"). Bishop is built on the Solana blockchain and enables users to trade on the probability of real-world events across politics, sports, finance, and global trends using a decentralized, permissionless market infrastructure. The core Platform does not require identity verification (KYC) to participate in prediction markets. Bishop also offers Bishopay, a built-in fiat on-ramp that allows users to deposit real-world money using traditional payment methods, which is subject to separate regulatory requirements described herein. Please read these Terms carefully before using the Platform. By registering an account or placing any trade, you confirm that you have read, understood, and agree to be bound by these Terms and our Privacy Policy.

1. Acceptance of Terms

By accessing or using Bishop, you enter into a legally binding agreement with us. If you do not agree to these Terms in their entirety, you must immediately cease using the Platform. We reserve the right to update these Terms at any time; continued use of the Platform following any update constitutes acceptance of the revised Terms.

2. Eligibility and Restricted Jurisdictions

To use Bishop, you must meet all of the following eligibility requirements:

• You are at least 18 years of age (or the legal age of majority in your jurisdiction, whichever is higher).
• You have full legal capacity to enter into a binding contract.
• You are not a resident of, or accessing the Platform from, a jurisdiction where decentralized prediction markets or online trading are prohibited or restricted by law.
• You are not subject to any sanctions, export controls, or other legal restrictions that would prohibit your use of the Platform.
• You are not acting on behalf of any person who does not meet these eligibility requirements.

Bishop reserves the right to verify your eligibility at any time and to suspend or terminate your account if we determine that you do not meet these requirements. We do not accept users from jurisdictions where our services are prohibited, including but not limited to certain US states and other restricted territories as updated from time to time.

3. Account Registration and Security

To participate in prediction markets, you must register an account. No identity verification (KYC) is required to create an account or trade on the core Platform. By registering, you agree to:

• Provide accurate, current, and complete information during registration and keep it updated at all times.
• Maintain the confidentiality of your login credentials and not share them with any third party.
• Notify us immediately at support@bishop.exchange of any suspected unauthorised access to your account.
• Accept full responsibility for all activities conducted under your account.
• Maintain only one account per person; duplicate accounts are prohibited and may result in permanent suspension.

We reserve the right to refuse registration or suspend any account at our sole discretion, including where we suspect fraud, misrepresentation, or violation of these Terms.

4. Decentralized Prediction Markets and Trading Rules

Bishop operates a real-time decentralized prediction market platform built on the Solana blockchain, where users trade on the probability of future events across politics, sports, finance, and global trends. Market prices are determined by collective participant activity on our decentralized infrastructure, reflecting the aggregated probability estimates of all traders. Smart contracts govern market creation, liquidity provision, and settlement, ensuring transparent and trustless execution. By participating, you acknowledge and agree that:

• All trading on the decentralized prediction market involves financial risk. You may lose some or all of the funds you deposit and trade with.
• Prediction markets are speculative instruments. Past performance of any market, trader, or outcome is not indicative of future results.
• Market prices reflect the collective probability estimates of participants on the decentralized platform and are not guaranteed to be accurate.
• You are solely responsible for all trading decisions. Bishop does not provide financial, investment, or trading advice.
• Market outcomes are determined by real-world events and independent resolution criteria, which are outside Bishop's control.
• You must have sufficient available balance in your account before placing any trade. Bishop will not extend credit or margin.
• All trades are executed at the prevailing market price at the time of order submission. Prices may change between order placement and execution.
• Bishop reserves the right to impose position limits, trading limits, or other risk controls on any account at any time.

5. Market Creation and Resolution

Each market on Bishop's decentralized prediction market has defined resolution criteria published at the time of market creation. The following rules apply to all markets:

• Markets are resolved based on the outcome of the specified real-world event, as determined by Bishop using credible, publicly available sources and multi-source oracle data (including Chainlink and Pyth Network feeds where applicable).
• Bishop acts as the final arbiter of market resolution. Our resolution decisions are final and binding.
• In the event of ambiguity, insufficient information, or extraordinary circumstances, Bishop may delay resolution, void the market, or resolve at N/A (no action), returning stakes to participants.
• Bishop reserves the right to suspend, cancel, or void any market at any time prior to resolution if we determine it is in the best interests of the Platform or its users, including in cases of suspected manipulation, data errors, or regulatory concerns.
• Winning positions are settled and credited to user accounts within a reasonable time following official resolution.
• Disputes regarding market resolution must be submitted to our support team within 72 hours of the resolution announcement. Bishop's decision on any dispute is final.

6. Fees and Charges

Bishop charges fees for certain activities on the Platform. By using the Platform, you agree to pay all applicable fees:

• A trading fee is charged on each transaction. The current fee schedule is published on the Platform and may be updated from time to time with reasonable notice.
• Withdrawal fees may apply depending on the payment method and amount. These are disclosed at the time of withdrawal request.
• Bishop does not charge fees for standard USDC or Bishop Coin deposits, though third-party payment providers may apply their own charges.
• Bishopay fiat deposits are subject to a conversion fee to cover payment processing and on-chain settlement costs. This fee is displayed transparently before you confirm your deposit.
• All fees are deducted automatically from your account balance at the time of the relevant transaction.
• Bishop reserves the right to introduce, modify, or waive fees at any time. Material changes to the fee structure will be communicated to users in advance.

7. Deposits, Withdrawals, and Payments

All financial transactions on the Platform are subject to the following conditions:

• Deposits are accepted in USDC and Bishop Coin (BSHP) via direct on-chain transfer to your connected wallet. Funds are credited to your account upon confirmed on-chain receipt.
• Fiat deposits (real-world money) are facilitated exclusively through Bishopay, Bishop's built-in fiat on-ramp. See Section 8 for full Bishopay terms.
• Withdrawals will only be made to wallet addresses or payment methods registered in your name. Third-party withdrawals are strictly prohibited.
• Bishop reserves the right to delay or withhold withdrawals pending fraud investigations or regulatory requirements.
• Minimum and maximum deposit and withdrawal limits apply and are published on the Platform.
• All transactions are final once confirmed. Bishop is not responsible for errors made by users during the transaction process.
• Bishop is not responsible for fees, delays, or errors caused by third-party payment providers or blockchain network congestion.
• Funds held in your Bishop account are not insured by any government deposit protection scheme.

8. Bishopay — Built-In Fiat On-Ramp

Bishopay is Bishop's integrated fiat on-ramp service that enables users to deposit real-world money (fiat currency) using Visa or Mastercard debit/credit cards. Bishopay automatically converts your fiat deposit into USDC or Bishop Coin (BSHP) at the prevailing market rate, allowing you to participate in prediction markets without needing prior cryptocurrency experience or a separate crypto wallet. Bishopay is designed to preserve Bishop's decentralized nature — once your fiat is converted to USDC or BSHP, all trading occurs on the decentralized Solana-based protocol.

By using Bishopay, you agree to the following additional terms:

• Bishopay is powered by Stripe. All fiat payments are processed by Stripe in accordance with their terms of service and privacy policy. Your card details are never stored on Bishop's servers.
• Bishopay accepts major global currencies including USD, EUR, GBP, CAD, AUD, and others. The exact list of supported currencies is published on the Platform.
• The minimum fiat deposit via Bishopay is $5 USD (or equivalent). There is no set maximum, though your card provider may apply its own limits.
• The conversion rate from fiat to USDC or Bishop Coin is displayed to you before you confirm the transaction. Rates are live and may fluctuate.
• A conversion fee applies to all Bishopay fiat deposits. This fee is shown transparently before confirmation. Depositing and converting to Bishop Coin may attract a lower fee than converting to USDC as an incentive for Bishop Coin adoption.
• Users who wish to use Bishopay for fiat deposits or withdrawals are required to complete identity verification (KYC) as mandated by applicable payment and financial regulations. This is a one-time process. Users who trade exclusively with USDC or Bishop Coin are not subject to this requirement.
• Bishopay transactions are subject to anti-money laundering (AML) monitoring and sanctions screening as required by applicable law.
• Bishopay fiat deposits are processed securely and comply with PCI-DSS standards.
• Use of Bishopay is entirely optional. You may deposit USDC or Bishop Coin directly without using Bishopay.
• Bishop is not liable for delays, failures, or errors in Bishopay transactions caused by Stripe or your card issuer.

9. Prohibited Conduct

You agree not to engage in any of the following prohibited activities:

• Using the Platform for any illegal, fraudulent, or unauthorised purpose.
• Attempting to manipulate prediction market prices, outcomes, or resolution through coordinated trading, wash trading, spoofing, or any other form of market abuse.
• Creating multiple accounts, using another person's account, or misrepresenting your identity.
• Using automated bots, scripts, scrapers, or algorithmic trading tools without prior written consent from Bishop.
• Exploiting bugs, errors, or vulnerabilities in the Platform or its smart contracts. Any discovered vulnerabilities must be reported to us immediately.
• Engaging in money laundering, terrorist financing, or any other financial crime, including through Bishopay.
• Transmitting harmful, offensive, defamatory, or disruptive content on the Platform.
• Attempting to gain unauthorised access to any part of the Platform, its systems, smart contracts, or other users' accounts.
• Colluding with other users to gain an unfair advantage in any prediction market.
• Using insider information or non-public information to trade on any market.

Violations of this section may result in immediate account suspension, forfeiture of funds, and referral to relevant law enforcement authorities.

10. Responsible Trading

Bishop is committed to promoting responsible trading on our decentralized prediction market. We provide tools to help you manage your activity on the Platform:

• You may set deposit limits, trading limits, or self-exclusion periods through your account settings.
• If you believe you have a problem with compulsive trading or prediction market activity, we encourage you to use our self-exclusion tools or contact a responsible trading support organisation.
• Bishop reserves the right to impose limits or restrictions on any account where we have concerns about responsible trading.
• We do not extend credit to users. You may only trade with funds you have deposited, whether via direct crypto deposit or through Bishopay.

11. Intellectual Property

All content, trademarks, logos, software, data, and intellectual property on the Platform are owned by or licensed to Bishop. You are granted a limited, non-exclusive, non-transferable licence to access and use the Platform for personal, non-commercial purposes only. You may not reproduce, distribute, modify, create derivative works from, or commercially exploit any part of the Platform without our express prior written permission. Any feedback or suggestions you provide to us may be used by Bishop without restriction or compensation to you.

12. Disclaimer of Warranties

The Platform is provided on an "as is" and "as available" basis. To the maximum extent permitted by applicable law, Bishop expressly disclaims all warranties, whether express, implied, statutory, or otherwise, including but not limited to implied warranties of merchantability, fitness for a particular purpose, accuracy, and non-infringement. Bishop does not warrant that the Platform will be uninterrupted, error-free, secure, or free from viruses or other harmful components. Prediction market data, prices, and information displayed on the Platform are provided for informational purposes only and may not be accurate or up to date. You use the Platform entirely at your own risk.

13. Limitation of Liability

To the fullest extent permitted by applicable law, Bishop and its officers, directors, employees, agents, and affiliates shall not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages arising out of or in connection with your use of the Platform, including but not limited to loss of profits, trading losses, loss of data, loss of goodwill, or business interruption, even if advised of the possibility of such damages. Our total aggregate liability to you for any claim arising under or in connection with these Terms shall not exceed the total amount deposited by you into your Bishop account in the 30 days immediately preceding the event giving rise to the claim. Nothing in these Terms limits our liability for fraud, gross negligence, or any other liability that cannot be excluded by law.

14. Indemnification

You agree to indemnify, defend, and hold harmless Bishop and its officers, directors, employees, agents, and affiliates from and against any claims, liabilities, damages, losses, costs, and expenses (including reasonable legal fees) arising out of or in connection with: (a) your use of the Platform; (b) your breach of these Terms; (c) your violation of any applicable law or regulation; or (d) any content you submit or transmit through the Platform.

15. Privacy and Data Protection

Your use of the Platform is governed by our Privacy Policy, which is incorporated into these Terms by reference. By using the Platform, you consent to the collection, processing, and use of your personal data as described in the Privacy Policy. If you use Bishopay, additional data processing obligations apply as described in the Privacy Policy's Bishopay section. We process your data in accordance with applicable data protection laws.

16. Suspension and Termination

Bishop reserves the right to suspend, restrict, or permanently terminate your account at any time, with or without prior notice, for any reason including but not limited to: violation of these Terms, suspected fraud or market manipulation, regulatory requirements, or inactivity. Upon termination, your right to access the Platform will immediately cease. Any funds remaining in your account at the time of termination will be handled in accordance with applicable law and our internal compliance policies. Bishop shall not be liable to you for any losses resulting from a suspension or termination carried out in good faith.

17. Changes to These Terms

Bishop reserves the right to modify these Terms at any time. We will provide reasonable notice of material changes by posting the updated Terms on the Platform and updating the "Last updated" date. For significant changes, we may also notify you by email. Your continued use of the Platform after the effective date of any changes constitutes your acceptance of the revised Terms. If you do not agree to the revised Terms, you must stop using the Platform and may request account closure.

18. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with applicable laws. In the event of any dispute, controversy, or claim arising out of or relating to these Terms or your use of the Platform, you agree to first attempt to resolve the matter informally by contacting our support team. If the dispute cannot be resolved informally within 30 days, both parties agree to submit to the exclusive jurisdiction of the competent courts in the applicable jurisdiction. Nothing in this clause prevents either party from seeking urgent injunctive or other equitable relief from a court of competent jurisdiction.

19. Severability and Entire Agreement

If any provision of these Terms is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, that provision shall be modified to the minimum extent necessary to make it enforceable, or severed if modification is not possible, without affecting the validity and enforceability of the remaining provisions. These Terms, together with our Privacy Policy and any other policies referenced herein, constitute the entire agreement between you and Bishop with respect to your use of the Platform and supersede all prior agreements, representations, and understandings.

20. Contact Us

If you have any questions, concerns, or complaints regarding these Terms of Service, please contact us through our Help Center or reach us directly at support@bishop.exchange. We aim to respond to all enquiries within 5 business days.