Golf Rules

Golf Contract Settlement Rules

Unless otherwise specified in the applicable Contract Specifications, all Golf event contracts listed on ProphetX shall be resolved in accordance with the rules set forth in this Chapter. Defined terms used herein have the meanings ascribed to them in the ProphetX Rulebook. References to 'orders' include resting and filled orders as applicable; references to 'settlement' refer to final contract disposition following outcome determination.

A. General. All contracts are offered in accordance with ProphetX's Rulebook and Terms and Conditions.

B. Scheduling. Dates, locations, and start times displayed on the Exchange are provided for informational purposes only and are not guaranteed. Official schedules are as published by the applicable governing body.

C. Tournament Completion Requirement. Tournament contracts shall only be resolved if a minimum of thirty-six (36) holes have been completed and an official result has been declared by the applicable sanctioning body. Any reference to "Majors" shall be based on the tournaments designated as such by the PGA for the applicable season, irrespective of any changes to venue, date, or other conditions.

D. Tournament Performance Contracts. All contracts referencing tournament performance, including but not limited to Winner, Place, Each-Way, Winner Without X, Group Predictions, Top Nationality, and Individual Final Position contracts, shall be deemed valid provided that: (i) the minimum number of holes applicable to the contract, as determined by the rules of the governing association (e.g., thirty-six (36) holes for European Tour sanctioned events and fifty-four (54) holes for PGA Tour sanctioned events), have been completed by the eligible players; and (ii) an official result has been declared by the sanctioning body.

E. Withdrawal and Disqualification. Contracts on players who commence the tournament but subsequently withdraw voluntarily or are disqualified shall be resolved to No, unless the outcome of the contract to which the order refers has already been unequivocally determined prior to the withdrawal or disqualification.

F. Dead Heat Rules. Unless otherwise stated in the applicable Contract Specifications, dead-heat rules apply to all Golf contracts in the event two (2) or more players finish in the same position. Dead-heat rules do not apply in the following circumstances:

(i) a tie or draw outcome is offered as a distinct contract option by ProphetX;

(ii) the position is decided by an official playoff; or

(iii) a tie occurs in a specific Tournament Matchup contract, in which case all contracts shall be void and collateral shall be returned to the applicable accounts.

G. Player Must Start. If a referenced player does not start the tournament, all of the referenced player's contracts shall be void and collateral shall be returned to the applicable accounts.

H. Outright Winner Contracts. For Outright Winner contracts, in the event of a playoff, the result of the playoff shall determine which player's contracts resolve to Yes for settlement purposes. For Outright Winner contracts resolved without a playoff, dead-heat rules as set forth in Rule F above shall apply. If any player withdraws after having completed one (1) or more holes, that player shall be considered to have participated in the tournament and shall have their contracts resolved to No.

I.  Top Player Contracts. Top Player contracts include, but are not limited to, Top US Player, Top European Player, and Top Irish Player contracts. The player with the highest finishing position within the applicable category at the conclusion of the tournament. shall have their contracts resolve to Yes In the event of a tie, dead-heat rules as set forth in Rule F above shall apply. If all listed players within a specific category miss the cut, the player with the lowest score at the cut shall have their contracts resolve to Yes for settlement purposes.

J. Make/Miss Cut Contracts. Make/Miss Cut contracts reference whether a specified player will make or miss the cut in the applicable tournament. These contracts shall be resolved upon the first cut, after thirty-six (36) holes have been completed. Players who are disqualified or who withdraw before completing thirty-six (36) holes shall be deemed to have missed the cut for settlement purposes.

K. Qualification Contracts. Contracts on whether a player will qualify for a specified tournament shall be resolved based on whether the player qualifies, regardless of whether the player ultimately competes in that tournament. These contracts shall be resolved only after the conclusion of the qualifying stage. Disqualifications or amendments to the specific tournament following the qualifying stage shall not affect qualification status, and the player shall continue to be deemed "qualified" for settlement purposes.

L. Hole-in-One Contracts. Contracts on whether a player will make a hole-in-one, or any other variation of a hole-in-one market, shall be resolved based on a tournament of thirty-six (36) or more holes. If the applicable tournament is reduced to thirty-six (36) or fewer holes, all contracts shall be void and collateral shall be returned to the applicable accounts. For contracts on a specific player to make a hole-in-one, the referenced player must tee off for orders to stand.

M. Player Performance Contracts. For contracts on specific player performances, including but not limited to bogey-free rounds, total number of birdies, and under-par rounds, the referenced player must complete the standard eighteen (18) holes for orders to stand. If the referenced player withdraws or is disqualified during the round, all contracts for that round shall be void and collateral shall be returned to the applicable accounts.

N. Futures Contracts. A Futures contract is an event contract in which the outcome is determined by whether a specified participant wins or places within a specified position in the final classification of the listed event or competition. Example: a Futures contract on Player A to win the 2026 Masters Tournament shall resolve to Yes if, and only if, Player A wins the 2026 Masters Tournament.

O. Ryder Cup Selection Contracts. For "To Be Selected" Ryder Cup contracts, any player who automatically qualifies for the Ryder Cup shall Resolve to Yes.

P. Bogey-Free Tournament Contracts. For contracts on a player completing a bogey-free performance across an entire tournament, all four (4) rounds must be completed for orders to stand. If fewer than four (4) rounds are completed, all contracts shall be void and collateral shall be returned to the applicable accounts, unless the outcome has been unequivocally determined prior to the reduction in rounds. If a player misses the cut, the contract shall resolve to No, regardless of whether completed their rounds bogey-free, as the tournament was not completed. 

Q. Birdie-or-Better and Bogey-or-Worse Contracts. An eagle score on a hole shall be Resolved as birdie-or-better but shall not count as two (2) birdies for settlement purposes. An albatross score on a hole shall be Resolved as birdie-or-better or eagle-or-better, as applicable, but shall not count as two (2) eagles or two (2) or more birdies for settlement purposes. A double bogey or worse score on a hole shall be Resolved as bogey-or-worse but shall not count as multiple bogeys for settlement purposes.

R. Group of Golfers Versus the Field Contracts. For Group Versus the Field contracts, "the Field" is defined as all golfers participating in the event except those specified in the contract group. If any golfer within the specified contract group does not participate in the event, all contracts shall be void and collateral shall be returned to the applicable accounts.