TruthPesa

TruthPesa Terms of Use

These Terms of Use ("Terms") govern your access to and use of the Interfaces and Features offered by TruthPesa in Kenya.

Introduction

These Terms govern how you may access, use, or otherwise interact with the interfaces, websites, applications, and related features made available through https://truthpesa.com (collectively, the "Interfaces" and "Features"). They include our Privacy Policy and any market rules or other policies that refer to these Terms (together, the "Agreement"). In these Terms, "we", "us" and "our" mean TruthPesa and "you" means the person using the Interfaces and Features.

PLEASE READ THESE TERMS CAREFULLY. BY CREATING AN ACCOUNT, DEPOSITING FUNDS OR OTHERWISE USING THE INTERFACES OR FEATURES, YOU CONFIRM THAT YOU ARE ELIGIBLE TO USE THEM, THAT YOU HAVE READ AND UNDERSTOOD THESE TERMS, AND THAT YOU AGREE TO BE BOUND BY THEM. IF YOU DO NOT AGREE, DO NOT USE THE INTERFACES OR FEATURES.

What the Features Are

  • Markets. Each market asks a question about a future event, with two or more outcomes. You can buy and sell shares in an outcome ("Shares"). When the market resolves, each Share in the winning outcome pays out $1 and each Share in a losing outcome pays out nothing.
  • Prices. Prices are set by the orders users place on each market's order book, not by us. A price reflects what other users are willing to pay, not our view of how likely an outcome is, and it may move between the time you submit an order and the time it is filled.
  • Your Balance. Your balance records the funds you have deposited, plus your proceeds, less your purchases, fees, and withdrawals. It is not a bank deposit, earns no interest, and is held and paid out only as these Terms describe.
  • Content. Market descriptions, charts, comments, and other information on the Interfaces are for general information only. They are not financial, legal, tax, or other professional advice, and you should not rely on them as such.

Licensing

TruthPesa offers the Trading Features in Kenya under the licences required by Kenya's gambling laws and regulations, as issued by the Betting Control and Licensing Board or its successor regulator. Where a licence is subject to conditions, we will operate the Features in accordance with them, and these Terms are to be read subject to them.

Eligibility

You may use the Trading Features only if all of the following are true:

  • You are at least 18 years old.
  • You are located in Kenya whenever you deposit, trade, or withdraw. You must not use a VPN or any other tool to hide your location.
  • You register with a Kenyan mobile number that is registered in your own name, and you deposit from and withdraw to M-Pesa accounts registered in your own name.
  • You hold only one account. Accounts may not be shared, sold, or transferred.
  • You are not subject to sanctions, and you are not using the Features on behalf of anyone else.
  • You are not excluded from gambling by a court or a regulator.
  • You are not an employee or officer of TruthPesa or of any person who decides how its markets resolve.

If any of these stops being true, you must stop using the Trading Features and tell us. We may ask you to verify your identity, age, or source of funds at any time, and may suspend your account until you do.

Your Account and Its Security

  • You must give accurate information when you register and keep it up to date.
  • You are responsible for keeping your password, your phone, and any two-factor authentication method private, and for everything done through your account. Tell us immediately if you believe your account has been compromised.
  • To protect your funds, withdrawals are paused for 48 hours after your password is reset or your phone number is changed.

Deposits and Withdrawals

  • Deposits and withdrawals are made through M-Pesa. Any minimum or maximum amount, daily limit, or fee is shown in the Interface before you confirm.
  • Your balance is kept in the currency shown in the Interface. Where M-Pesa pays in a different currency, the deposit or withdrawal is converted at the exchange rate shown before you confirm, and that rate applies even if it differs from rates offered elsewhere.
  • A deposit is added to your balance once M-Pesa confirms it to us.
  • Withdrawals are reviewed before they are paid, and are paid only to the mobile number on your account. We may delay or refuse a withdrawal where we reasonably suspect fraud, money laundering, a breach of these Terms, or that the law requires it.
  • Funds may be used only for trading on the Features. If we reasonably believe you are using your balance to move money rather than to trade, we may require you to withdraw it.

Orders and Trades

  • A market order fills immediately against the orders on the book, at the prices available. Any part that cannot fill at once is cancelled.
  • A limit order fills only at your price or better. Any part that does not fill immediately rests on the book until it fills, you cancel it, or it expires.
  • Funds or Shares committed to a resting order are held until it fills, is cancelled, or expires.
  • A filled trade is final and cannot be reversed or cancelled by you.
  • Trading fees are shown in the Interface before you confirm an order.

How Markets Resolve

  • Resolution. Each market resolves according to the rules and resolution sources published with it. TruthPesa decides the outcome in accordance with those rules, and pays the winning Shares into the balances of their holders.
  • Voided Markets. If the event a market is about is cancelled, abandoned, or postponed beyond what its rules allow, or produces no result those rules can settle on, we may void the market. Every Share in a voided market, on either side, pays out half of what a winning Share would have paid, which is $0.50 per Share, whatever price it was bought at. A void is not a refund of the price you paid: a Share bought for more than that returns less than it cost, and one bought for less returns more. Trades made before the market was voided stand.
  • If you believe a market was resolved incorrectly, tell us within 7 days of its resolution, with your reasons. We will review it and give you our decision.

Risks

  • Trading in markets is a form of gambling. A Share in an outcome that does not happen is worth nothing, and you can lose all the money you commit.
  • Prices can move quickly, and a market may have few orders, so you may not be able to buy or sell when or at the price you want.
  • TruthPesa relies on third parties, including M-Pesa and hosting providers, that it does not control. Their outages or delays may affect the Features.
  • Nothing on the Interfaces is advice, and we owe you no fiduciary duty. Make your own decisions, and seek independent advice if you need it.

Responsible Gambling

Only trade with money you can afford to lose. Do not trade to recover losses, to pay debts, or when you are under the influence of alcohol or drugs.

If gambling is causing you or someone close to you harm, stop trading and seek help from a qualified counsellor or support service.

Prohibited Conduct

You must not:

  • Break any applicable law, including the laws on gambling, money laundering, and terrorist financing.
  • Trade on a market whose outcome you can influence, or using information that is not public and that you obtained in breach of a duty.
  • Manipulate a market, including by spoofing, layering, wash trading, pre-arranged trades, or acting together with other users.
  • Open more than one account, use someone else's account, or let someone else use yours.
  • Give false or misleading information.
  • Interfere with the Interfaces or Features, introduce malware, attempt unauthorised access, or use bots or other automated tools to access or extract data, except as we expressly allow.
  • Copy, reverse engineer, or commercially exploit the Interfaces or Features, except as the law allows.
  • Post content that is unlawful, defamatory, abusive, or infringes anyone's rights.

If we reasonably believe you have done any of these, we may investigate, suspend or close your account, cancel your open orders, withhold funds connected to the conduct, and report it to the authorities.

Intellectual Property and Your Content

  • TruthPesa and its licensors own the Interfaces and Features. We give you a personal, revocable, non-transferable licence to use them in accordance with these Terms.
  • You keep ownership of the comments and other content you post, and give us a royalty-free licence to host, display, and distribute it in connection with the Features.
  • If you send us feedback or suggestions, we may use them without any obligation to you.

Third-Party Services

The Interfaces may link to or rely on third-party services, such as M-Pesa. Your use of them is subject to their own terms, and we are not responsible for them.

Disclaimers

TO THE EXTENT THE LAW ALLOWS, THE INTERFACES AND FEATURES ARE PROVIDED "AS IS" AND "AS AVAILABLE", WITHOUT WARRANTIES OF ANY KIND. WE DO NOT PROMISE THAT THEY WILL BE UNINTERRUPTED, ERROR-FREE, OR SECURE, OR THAT ANY CONTENT ON THEM IS ACCURATE.

Limitation of Liability

TO THE EXTENT THE LAW ALLOWS, WE ARE NOT LIABLE FOR ANY INDIRECT OR CONSEQUENTIAL LOSS, OR FOR ANY LOSS OF PROFIT, OPPORTUNITY, OR DATA, ARISING FROM YOUR USE OF THE INTERFACES OR FEATURES. OUR TOTAL LIABILITY TO YOU FOR ALL CLAIMS IS LIMITED TO THE TRADING FEES YOU PAID US IN THE TWELVE MONTHS BEFORE THE CLAIM AROSE.

Nothing in these Terms limits your right to withdraw your available balance, limits our liability for fraud or for death or personal injury caused by our negligence, or takes away any right you have under the Consumer Protection Act, 2012 or other law that cannot be excluded.

Indemnity

You agree to compensate us for any loss, liability, or reasonable cost, including legal fees, that we suffer because you breached these Terms or the law, or because of content you posted.

Taxes

You are responsible for any tax on your winnings or other income from the Features. Where Kenyan law requires us to deduct or account for tax on your trades or winnings, we will do so, and the amount credited to your balance will be net of it.

Suspension and Closure

  • We may suspend or close your account if you breach these Terms, if the law requires it, or on reasonable notice for any other reason.
  • The sections on Intellectual Property, Limitation of Liability, Indemnity, Governing Law, and Disputes survive the closure of your account.

Changes to These Terms and to the Features

We may change these Terms and may change, suspend, or discontinue any Feature. We will tell you about material changes to these Terms through the Interfaces or by another appropriate means before they take effect. Your continued use of the Interfaces and Features after a change takes effect means you accept it. If you do not, stop using them and withdraw your balance.

Governing Law and Disputes

  • These Terms, and any dispute about them or about the Interfaces or Features, are governed by the laws of Kenya.
  • If you have a complaint, contact us first. We will try in good faith to resolve it within 30 days.
  • If it is not resolved, either of us may refer it to the courts of Kenya, which have exclusive jurisdiction. You may also complain to the regulator that licenses the Trading Features.

General

  • These Terms are the entire agreement between you and us about the Interfaces and Features.
  • You may not transfer your rights under these Terms. We may transfer ours to a successor of our business, who will be bound by them.
  • If any part of these Terms is found to be unenforceable, the rest remains in effect. If we do not enforce a term straight away, we may still enforce it later.
  • Nothing in these Terms creates a partnership, agency, or employment relationship between you and us.

Contact

Questions, complaints, or claims about these Terms or the Interfaces and Features should be directed via the contact method provided within the Interface.