These Terms of Service (the "Terms") are a binding agreement between you and Kalmari ("Kalmari," "we," "us"). By creating an account, connecting Kalmari to a Telegram account, or using any part of the Kalmari service (the "Service"), you agree to these Terms and to our Privacy Policy.
You may use the Service only if you:
The Service is offered to residents of the United States only. We do not knowingly offer the Service to residents of the European Union, the United Kingdom, or any other jurisdiction outside the United States.
Kalmari is a Telegram-native research and trading interface for Kalshi prediction markets. Kalmari aggregates publicly available research feeds, runs AI-assisted analysis, and — when you connect your own Kalshi API key — lets you place orders on your Kalshi account from inside Telegram.
Nothing in the Service constitutes investment advice, a recommendation, a solicitation, or an offer to buy or sell any security, swap, event contract, or other financial product.
You authenticate to Kalmari with a Telegram account. You are responsible for everything that happens through your Telegram account and through the Service. If you suspect your Telegram account or your Kalshi credentials have been compromised, you must promptly (i) revoke your Kalshi API key in Kalshi's interface, (ii) delete your stored credentials in Kalmari, and (iii) notify us at the address in §18.
Kalshi is a separate company with its own onboarding, KYC, and account terms. You must independently maintain a Kalshi account in good standing. Kalmari does not control whether Kalshi will accept, maintain, or close your account, and is not responsible for Kalshi's decisions, downtime, or settlement processes.
To place orders through Kalmari, you upload your own Kalshi-generated RSA private key and key ID (collectively, "API Credentials"). By doing so, you grant Kalmari a limited authority to use your API Credentials solely to:
You may revoke this authority at any time by deleting your API Credentials in Kalmari's settings or by revoking the key on Kalshi directly. Kalmari is your agent for the limited purpose of order routing only. Kalmari is not your investment adviser, broker, custodian, or fiduciary.
Kalmari stores your API Credentials encrypted at rest using AES-256-GCM authenticated encryption. API Credentials are not logged to application logs, error tracking, or analytics systems. Credentials are retained only while your account is active and for a short period after account closure, after which they are cryptographically destroyed. See our Privacy Policy for the full retention schedule.
You acknowledge that no security system is impenetrable. Kalmari's encryption, access controls, and monitoring are designed to reduce the risk of unauthorized access but do not guarantee that your credentials will remain confidential in all circumstances. You agree to comply with Kalshi's own API Terms of Service.
Every account starts in paper mode, in which orders are simulated and no real funds are placed at risk. Paper-mode gains are illustrative and are not redeemable or convertible into cash, credits, or other value. Paper trading is not a sweepstakes, contest, or game of chance.
Switching from paper mode to live mode requires a separate, explicit opt-in. In live mode, real orders are placed on your Kalshi account using your API Credentials, and you may lose 100% of the capital you commit. The risk acknowledgments in §05 apply with full force.
Where Kalmari surfaces backtests, simulated results, or any other non-live performance figures, the following CFTC-style disclaimer applies:
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
Some features of Kalmari are free. Other features require a paid subscription. Current pricing is shown in the Service's billing area. By starting a paid plan, you authorize us (and our payment processors) to charge your payment method for the recurring subscription fee, plus any applicable taxes, until you cancel.
If we offer a free trial, your subscription will automatically convert to a paid plan at the end of the trial unless you cancel before the trial ends. Where required by law (including California Business & Professions Code §17602 and Visa's free-trial rules), we will email you a reminder before any free-to-paid conversion or material price change.
You may cancel your paid plan at any time from the Service's billing portal — using the same method by which you signed up, in compliance with California AB 2863. Cancellation takes effect at the end of your then-current billing period. After cancellation, you keep access until that period ends.
New paid subscribers may request a full refund within seven (7) days of the initial charge, no questions asked. Outside that window, fees are non-refundable to the extent permitted by law. Statutory rights that cannot be waived under your local law are not affected.
Fees are exclusive of taxes. You are responsible for any sales, use, value-added, or similar taxes assessed by any taxing authority on your purchase, except for taxes based on Kalmari's net income.
You agree not to, and not to permit any third party to:
You will defend, indemnify, and hold harmless Kalmari and its affiliates, officers, employees, and contractors from and against any claim, demand, loss, liability, damage, fine, penalty, cost, or expense (including reasonable attorneys' fees) arising out of or related to: (a) your breach of these Terms; (b) your violation of any law or third-party right (including Kalshi's terms, Telegram's terms, or the rights of any other user); (c) any trade or order placed using your account or your API Credentials; (d) any content you upload or transmit through the Service; and (e) any tax consequences arising from your use of the Service.
Kalmari is not liable for any delay, failure, loss, or damage caused by events beyond our reasonable control, including but not limited to: Kalshi downtime, Kalshi changes to its API or its market hours, Telegram outages, outages or rate-limits at AI providers (such as Anthropic or OpenAI), cloud-provider failures, denial-of-service attacks, internet or network failures, natural disasters, war, terrorism, civil unrest, labor disputes, sanctions, and acts of government.
You may stop using the Service at any time. You may delete your account from the Service's settings; doing so will trigger deletion of your stored API Credentials and other personal data on the schedule described in the Privacy Policy.
We may suspend or terminate your access to the Service at any time, with or without notice, including for breach of these Terms, suspected fraud, regulatory action, suspected security incidents, or the closure or suspension of your Kalshi account. If we terminate without cause, we will refund a pro-rata portion of any prepaid fees for the unused portion of the then-current billing period.
Sections 02, 04, 05, 06, 08, 09, 10, 11, 14, 15, 16, and 18 survive termination.
Before starting an arbitration, the party with a dispute must send a written notice to the other (for Kalmari, to the address in §18) describing the dispute and the relief sought. The parties will then try in good faith, for at least 30 days, to resolve the dispute informally. Filing in arbitration before completing this step is improper.
Any dispute, claim, or controversy arising out of or relating to these Terms or the Service, that is not resolved informally, will be resolved by final and binding individual arbitration administered by the American Arbitration Association ("AAA") under its Consumer Arbitration Rules. The Federal Arbitration Act governs the interpretation and enforcement of this section.
You and Kalmari agree to bring claims only in your or its individual capacity, and not as a plaintiff or class member in any purported class, collective, consolidated, mass, representative, or private-attorney-general action. The arbitrator may not consolidate more than one person's claims or preside over any form of representative proceeding. If this waiver is held unenforceable as to a particular claim or remedy, that claim or remedy (and only that claim or remedy) will be severed and brought in court; the remainder of this §14 will remain in full force.
Either party may instead bring an individual claim in small-claims court, so long as the claim qualifies and stays in that court. California consumers retain all rights provided by California SB 940 (eff. Jan. 1, 2025), including the right to a small-claims forum.
If 50 or more substantially similar claims are filed against Kalmari within a 90-day period, the AAA's Mass Arbitration Supplementary Rules apply, and the parties will use a bellwether process (an initial set of 10 cases, then mediation, then staged batches) before remaining cases proceed. The parties will share AAA mass-arbitration fees as required by AAA rules.
This §14 does not apply to: (a) actions to enforce intellectual-property rights or seek injunctive relief; (b) qualifying small-claims actions; or (c) claims that cannot be arbitrated under applicable law.
You may opt out of this arbitration agreement by sending written notice to Kalmari within 30 days of first accepting these Terms, identifying your name, your Telegram handle, and a statement that you wish to opt out. Opting out does not affect any other part of these Terms.
These Terms are governed by the laws of the State of Delaware, without regard to its conflict-of-laws rules. For users who are California residents, California substantive law applies, and venue for any small-claims action is California. The United Nations Convention on Contracts for the International Sale of Goods does not apply.
We may update these Terms from time to time. If we make a material change, we will notify you in advance through the Service or by email, and the changes will take effect on the date stated in the notice. Your continued use of the Service after the effective date is your acceptance of the updated Terms. If you do not agree to the updated Terms, you must stop using the Service before the effective date.
Questions about these Terms? Reach us through the in-app support flow, or by email at [email protected].