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Terms of Use

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1. Acceptance of Terms

These Terms of Use ("Terms") constitute a legally binding agreement between you ("User," "you," or "your") and Roland Gary Jones and Jones & Associates ("Operator," "we," "us," or "our"), the founder and operator of BankruptcyBet ("Platform," "Site"). By accessing, browsing, or using the BankruptcyBet website in any manner, you acknowledge that you have read, understood, and agree to be bound by these Terms and our Privacy Notice (Section 13 below).

If you do not agree to these Terms, you must immediately cease using the Site. We reserve the right to modify these Terms at any time. Continued use of the Site after any modification constitutes acceptance of the revised Terms.

2. Nature of the Platform — Demo Only

BankruptcyBet is an operational demonstration platform designed to illustrate the concept of a prediction market for bankruptcy creditor recovery rates. The Platform is not a licensed exchange, a Designated Contract Market (DCM), a swap execution facility, a broker-dealer, an investment adviser, or any other regulated financial entity.

• No real money. No funds of any kind are accepted, held, or disbursed by or through this Site. The Site does not have a payment processor, bank account, or custodial infrastructure for user funds.
• BB$ are not currency. "BB$" (BankruptcyBet dollars) are demonstration play credits with no monetary value, no exchange value, no convertibility to any real currency or asset, and no legal status as a financial instrument. They cannot be withdrawn, transferred, or redeemed.
• Demo prices are illustrative. All prices, recovery rates, and market data displayed on the Site are illustrative figures provided for demonstration purposes only. They do not constitute bids, offers, quotes, valuations, appraisals, or investment recommendations.
• No live trading. Live trading will not be available on this Platform until BankruptcyBet has obtained all required regulatory approvals from the U.S. Commodity Futures Trading Commission (CFTC) and entered into a formal partnership with a registered Designated Contract Market. The Operator will communicate the launch of live trading through the Site's email notification system.

3. No Financial, Legal, or Investment Advice

Nothing on this Site constitutes financial advice, investment advice, legal advice, tax advice, or any other professional advice. The case data, recovery rate estimates, news event analyses, and educational content on the Site are provided for general informational and illustrative purposes only.

The Operator is a licensed attorney in bankruptcy law. The Operator's legal practice is conducted through Jones & Associates and is entirely separate from BankruptcyBet. No attorney-client relationship is created by your use of this Site. If you have legal questions about a specific bankruptcy case or your legal rights as a creditor, you should consult a licensed attorney.

Past case outcomes described on the Site do not predict or guarantee future results in any specific case or on any future prediction market.

4. Informational Use of Case Data

Case data displayed on this Site — including case numbers, court filings, judge names, counsel names, claim amounts, and news events — is sourced from:

• PACER (Public Access to Court Electronic Records), the official federal court electronic filing system;
• Publicly available court filings and press releases;
• Publicly available financial and legal reporting from sources identified on each case page.

This data is provided in good faith for informational purposes. The Operator makes reasonable efforts to ensure accuracy but does not warrant the completeness, currency, or fitness for any particular purpose of the case data. Do not rely on this data as a substitute for your own review of official court records. Court data can change rapidly; BankruptcyBet may not reflect the most current filings.

5. Eligibility

You may use the Site for demonstration purposes only if:

• You are at least 18 years of age;
• You are accessing the Site for lawful, informational, or educational purposes;
• You understand and accept that no real money is involved in any Site activity;
• Your use of the Site is not prohibited by the laws of your jurisdiction.

The Site is directed at sophisticated commercial participants — including trade creditors, distressed debt professionals, restructuring attorneys, and institutional investors — who have reason to understand and evaluate bankruptcy recovery markets. It is not directed at retail consumers seeking speculative entertainment.

6. Email Waitlist and Communications

By submitting your name and email address through the Site's waitlist form, you agree to receive periodic communications from BankruptcyBet regarding:

• Platform development updates;
• Regulatory approval status;
• Case analysis and market commentary relevant to bankruptcy creditor recovery;
• Launch notifications when live trading becomes available.

You may unsubscribe at any time by following the unsubscribe link in any communication or by emailing us directly. We will not sell, share, or license your contact information to third parties for marketing purposes. See Section 13 (Privacy Notice) for full details.

7. Intellectual Property

All content on this Site — including the BankruptcyBet name and brand, the site design and layout, the case data presentation and formatting, the demonstration trading interface, and all text — is the proprietary work of Roland Gary Jones / Jones & Associates or is used with permission. Nothing on this Site grants you any license, right, or interest in any intellectual property.

You may not reproduce, distribute, publicly display, create derivative works from, or commercially exploit any portion of the Site without express written consent from the Operator.

8. Concept Confidentiality and Competitive Conduct

BankruptcyBet represents a novel and proprietary market concept developed by Roland Gary Jones. While the Site is publicly accessible for demonstration purposes, the Operator reserves all rights in the underlying business model, market design, regulatory strategy, and commercial framework.

Persons who access the Site in a professional capacity — including employees of prediction market operators, exchanges, financial institutions, or regulatory bodies — acknowledge that the commercial concept displayed on the Site is the proprietary work of the Operator. You agree not to appropriate, copy, or commercially exploit the BankruptcyBet concept in any manner that would deprive the Operator of the commercial benefit of his work without authorization.

9. Regulatory Disclosures

CFTC Jurisdiction

Event contracts of the type contemplated by BankruptcyBet are regulated by the U.S. Commodity Futures Trading Commission (CFTC) under the Commodity Exchange Act (CEA). The Third Circuit Court of Appeals held on April 6, 2026 (Kalshi v. New Jersey) that event contracts are "swaps" subject to the CEA. CFTC jurisdiction is exclusive.

Not Yet a Regulated Market

BankruptcyBet is not a registered DCM, swap execution facility, or any other CFTC-regulated entity. The Operator is pursuing the necessary regulatory approvals and DCM partnership to operate a live market. Until those approvals are obtained, no real trading of any kind is permitted on or through this Site.

No Securities Offering

Nothing on this Site constitutes an offer to sell or a solicitation to buy any security, including any interest in BankruptcyBet or Jones & Associates. Any future funding arrangements will be conducted through appropriate legal channels with required disclosures.

10. Disclaimers and Limitation of Liability

THE SITE IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTY OF ANY KIND. The Operator expressly disclaims all warranties, express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, accuracy, completeness, and non-infringement.

The Operator does not warrant that the Site will be uninterrupted, error-free, or free of viruses or other harmful components. The case data on the Site may contain errors or may not reflect the most recent court filings.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL THE OPERATOR BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES ARISING OUT OF OR RELATED TO YOUR USE OF, OR INABILITY TO USE, THE SITE. Because no real funds are involved in any Site activity, the Operator's maximum aggregate liability to any User for any cause whatsoever shall be zero dollars ($0.00).

11. Indemnification

You agree to indemnify, defend, and hold harmless the Operator, Roland Gary Jones, Jones & Associates, and their respective successors and assigns from and against any and all claims, damages, liabilities, costs, and expenses (including reasonable attorneys' fees) arising from: (a) your use of the Site in violation of these Terms; (b) your violation of any applicable law or regulation; or (c) any claim that your use of the Site caused damage to a third party.

12. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the State of [Roland's state of practice], without regard to conflict of law principles. Any dispute arising out of or relating to these Terms or the Site shall be resolved exclusively in the state or federal courts located in [Roland's jurisdiction], and you consent to personal jurisdiction in those courts.

Because no real funds are involved, disputes about BB$ balances or demo trade outcomes have no legal basis and will not be entertained.

13. Privacy Notice

BankruptcyBet collects the following information when you voluntarily provide it:

• Waitlist registration: Name, email address, and professional role. Used solely to send you platform updates and launch notifications.
• Site usage: Standard web server logs (IP address, browser type, pages visited, referring URL). Used for site operation and security only.

We do not sell, share, license, or otherwise disclose your personal information to third parties for commercial purposes. We do not use tracking pixels, advertising networks, or behavioral targeting on this Site.

Your information is stored securely and will be retained only as long as necessary to fulfill the purposes described above or as required by law. You may request deletion of your information at any time by contacting us.

This Site is not directed at children under 13. We do not knowingly collect information from children under 13.

14. Ethics Wall — Founder's Law Practice

Roland Gary Jones operates his bankruptcy law practice through Jones & Associates as an entirely separate entity from BankruptcyBet. A formal ethics wall exists between his client representations and any BankruptcyBet activities. Specifically:

• Roland Gary Jones does not use client information or client case knowledge in connection with BankruptcyBet;
• No client of Jones & Associates is a counterparty to any BankruptcyBet market or demo activity without fully informed written consent;
• Counsel to the BankruptcyBet platform (when retained) will be independent of Jones & Associates' client relationships;
• BankruptcyBet's case selection is based exclusively on public PACER data and public reporting — not on information obtained through client representations.

These measures are designed to protect client confidentiality, comply with applicable rules of professional conduct, and maintain the integrity of both the law practice and the platform.

15. Contact

Questions about these Terms, the Platform, or investment inquiries should be directed to:

Roland Gary Jones, Esq.
Jones & Associates
rolandjones.com

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© 2026 Roland Gary Jones / Jones & Associates. All rights reserved. BankruptcyBet is a trademark of Roland Gary Jones. These Terms were last updated April 25, 2026. The Operator reserves the right to update these Terms at any time without prior notice. Continued use of the Site constitutes acceptance of any updated Terms.