Refund Policy
Forkast is committed to operating as a neutral intermediary platform that serves as a marketplace for information discovery. While we strive to provide clear, transparent, and objective market resolution criteria, certain extraordinary circumstances may require us to evaluate refunding traders.
Refunds may be issued under the following extraordinary circumstances:
If none of the listed options in a market correctly reflect the real-world outcome, Forkast may issue refunds. This occurs when a circumstantial edge case, unforeseen development, or sufficient ambiguity in resolution criteria prevents a fair or accurate market resolution.
If an event that is the subject of a market is canceled, postponed indefinitely, or fundamentally altered in a way that changes the nature of the market, a refund process may be initiated. If a championship match is canceled or the rules of a game are significantly altered mid-event in a way that impacts the expected outcome, it may warrant offering refunds.
Markets are settled using the provided data source or publicly verifiable sources in consultation with our team of subject matter experts. However, if the primary data source becomes unavailable, compromised, or unreliable, and no objective alternative exists, Forkast may choose to refund the market. This ensures that users are not unfairly impacted by incorrect or unverifiable information.
Our refund process is handled by a dedicated team of experts who analyze the situation based on facts, verified reports, and external consultations when needed. This ensures fairness and prevents unjust settlements.
- Internal Review: Our in-house subject matter experts assess the validity of reported issues.
- Consultation: If necessary, external industry experts are consulted to ensure a balanced and data-driven decision.
- Final Determination: The resolution decision is publicly communicated, ensuring full transparency.
- Refund Execution: Once Forkast determines that a market should be refunded, the process will aim to be completed within 48 hours to ensure a swift and efficient return of funds to users.
In an event of a market refund, all open orders are automatically canceled. Any held positions (i.e., settled trades that resulted in an owned outcome share) qualify for a refund.
This ensures that users do not lose funds due to market inactivity - only executed positions are eligible for reimbursement, while unfilled orders are simply removed from the order book.
Credit codes used to enter markets are non-refundable. If a user participated in a market using a credit code, they would not receive a refund for that portion of their position.
Refunds will only be issued for funds that were directly deposited into Forkast. This means:
- If a user placed a trade using a combination of direct deposits and credit codes, only the portion funded by direct deposits will be eligible for a refund.
- Credit codes, promotional balances, or any non-cash incentives do not qualify for refunds under any circumstances.
This policy ensures that refunds apply only to real monetary deposits while maintaining fairness across all users.
Forkast reserves the right to deny refunds to users found engaging in market fraudulent activity, deliberate coordination between participants to influence market prices, or any behavior that compromises the integrity of the platform. If an investigation concludes that a user has participated in malicious actions, they may be disqualified from receiving refunds, and further actions may be taken if necessary.
For updates on refund cases and resolution policies, stay tuned to our official communications including Forkast’s X account, Discord channel, or from [email protected] .
