Trading League: Official Rules

NO PURCHASE OR PAYMENT NECESSARY TO ENTER OR WIN. A PURCHASE OR PAYMENT WILL NOT INCREASE YOUR CHANCES OF WINNING.

THE UNF*CK YOUR FUTURE TRADING LEAGUE IS A SKILL-BASED COMPETITION. WINNERS ARE DETERMINED BASED ON A QUANTITATIVE PERFORMANCE METRIC (AVERAGE RETURN ON INVESTMENT ACROSS MULTIPLE TRADE IDEAS) AND, FOR CERTAIN CATEGORIES, EDITORIAL JUDGMENT APPLIED IN ACCORDANCE WITH PRE-DISCLOSED CRITERIA. THIS COMPETITION IS VOID WHERE PROHIBITED OR RESTRICTED BY LAW.

1. Competition Period

The Competition begins at 09:00 ET on October 19, 2026 and ends at 23:59 ET on November 20, 2026 (the "Competition Period"). Real Vision may extend, shorten, suspend, or modify the Competition Period in its sole discretion in accordance with Section 21.

2. Eligibility

Subject to Section 3 (Excluded Jurisdictions), the Competition is open to natural persons who, as of the start of the Competition Period, are:

at least 18 years of age (or the age of majority in their jurisdiction of residence, whichever is higher);
either (i) a holder of an active Real Vision account of any tier or add-on product, including the Free tier, any paid membership tier (RV Connect, RV Alpha, RV Pro, or any other paid tier offered by Real Vision), and any add-on product (including The Exponentialist), in each case active as of the start of the Competition Period, or (ii) a person who has submitted a valid free entry under Section 5 (Alternative Method of Entry); and
not an employee, officer, director, contractor, or direct vendor of Real Vision, and not an immediate family member or member of the same household as any of the foregoing.

One natural person may submit only one set of entries, regardless of how many Real Vision accounts the person controls. Real Vision may verify identity and may disqualify any person submitting through multiple accounts.

3. Excluded Jurisdictions

The Competition is not open to, and no prize will be awarded to, residents of or persons present in any of the following jurisdictions:

the U.S. states of Florida, New York, and Rhode Island;
the Canadian province of Quebec;
any jurisdiction subject to comprehensive U.S., U.K., or European Union sanctions, including Cuba, Iran, North Korea, Syria, Russia, Belarus, the Crimea region, and the so-called Donetsk and Luhansk People’s Republics; and
any other jurisdiction in which the Competition or any prize would violate applicable law.

Residence is determined as of the start of the Competition Period based on the Entrant’s Real Vision account address or, for Alternative Method of Entry submissions, the address provided in the entry. Real Vision may add jurisdictions to the excluded list at any time if required by applicable law and will post any addition on the Competition landing page.

4. How to Enter

To enter, an Entrant must, during the Competition Period, submit at least one and no more than three trade ideas through the Real Vision platform at app.realvision.com (the "Platform") by completing all required fields, including:

the referenced asset (which must be available for selection in the Trade Idea entry modal on the Platform at the time the Entrant submits the trade idea);
the position direction (long or short);
the time-stamped entry price as quoted on the designated price source (the "Designated Source");
the Entrant’s stated rationale; and
any other field marked as required.

An Entrant may modify the entry only by submitting a separate exit instruction through the Platform. The time-stamped entry and exit instructions, as recorded by the Platform, are the only sources of record for ROI calculation. Trade ideas submitted other than through the Platform (including submissions under Section 5) will be processed by Real Vision into Platform records.

An Entrant who does not submit at least one eligible trade idea during the Competition Period is not eligible for any prize.

5. Alternative Method of Entry (AMOE)

A person who does not hold an active Real Vision account may enter the Competition free of charge by submitting trade ideas by email to league-entry@realvision.com, with the subject line "League AMOE Entry," during the Competition Period. AMOE Entrants must satisfy Sections 2 and 3.

AMOE Entrants must submit a separate email for each action (entry and exit). Each email must specify the AMOE Entrant’s full legal name, residence, the referenced asset, the position direction (long or short), and the action (entry or exit). AMOE trade ideas are accepted on a market-order basis only. AMOE Entrants cannot specify a target entry or exit price, a limit price, a stop level, or any other conditional instruction; any such instruction will be disregarded and the email will be processed as a market order.

Real Vision will process AMOE emails into Platform records within forty-eight (48) hours of receipt during the Competition Period. The Entry Price or Exit Price for an AMOE trade idea will be the price of the referenced asset on the Designated Source at the time Real Vision processes the email into Platform records. If processing is delayed beyond forty-eight hours due to circumstances outside Real Vision’s reasonable control, Real Vision will determine the applicable price in its reasonable discretion using a price consistent with the methodology in Section 8. Real Vision will confirm receipt of each AMOE email by reply.

AMOE entries are otherwise treated identically to Platform entries for all purposes, including the Section 4 minimum and maximum number of trade ideas, the Section 7 prohibited conduct provisions, the Section 8 calculation methodology (including the 24-hour minimum hold), prize eligibility, prize value, and prize structure.

6. Eligible Trade Ideas and Asset Universe

Eligible trade ideas may reference any asset that is available for selection in the Trade Idea entry modal on the Platform at the time the Entrant submits the trade idea. Real Vision determines, in its sole discretion, which assets are available in the Trade Idea entry modal and may add or remove assets during the Competition Period for operational, market, or compliance reasons. The removal of an asset from the Trade Idea entry modal after an Entrant has submitted a trade idea referencing that asset will not retroactively disqualify the trade idea, but the trade idea will be measured to the last available closing price on the Designated Source if the asset becomes untradeable.

The following are not eligible:

options of any kind;
perpetual swaps, futures, or any other derivative product;
margin or leveraged positions, meaning positions taken by the Entrant on borrowed capital or other synthetic leverage, as distinguished from an SEC-registered exchange-traded product that uses leverage internally;
synthetic exposures of any kind;
crypto leveraged tokens and other unregistered leveraged, inverse, or derivative crypto products sold by crypto venues;
any asset not available for selection in the Trade Idea entry modal at the time the Entrant submits the trade idea; and
any asset for which the Designated Source has not provided a reliable closing quote on November 20, 2026 at 23:59 ET.

7. Prohibited Conduct; Anti-Manipulation

Each Entrant agrees not to engage in, and to disqualify themselves on, any of the following:

market manipulation, including pump and dump, wash trading, spoofing, or coordinated trading;
trading on the basis of material non-public information;
coordinated submissions with one or more other Entrants intended to influence rankings;
submission of trade ideas through multiple accounts or identities;
front-running content published by Real Vision or positions held by Real Vision personnel;
submitting trade ideas in liquidity-thin assets where the Entrant’s own trade, or the Entrant’s coordination with others, meaningfully moves the price; and
any other conduct that Real Vision determines, in its sole discretion, to be fraudulent, manipulative, abusive, or contrary to the spirit of the Competition.

Real Vision reserves the right to disqualify any Entrant in its sole discretion based on a finding of conduct described in this Section 7. Real Vision has no obligation to disclose the basis of its findings.

8. Methodology and Calculation of ROI

ROI for each trade idea is calculated as follows:

For a long position: ROI = (Exit Price minus Entry Price) divided by Entry Price.

For a short position: ROI = (Entry Price minus Exit Price) divided by Entry Price.

"Entry Price" is the price of the referenced asset on the Designated Source at the time the entry instruction is recorded by the Platform (or, for AMOE entries, at the time Real Vision processes the entry into Platform records).

"Exit Price" is the price of the referenced asset on the Designated Source at the time the exit instruction is recorded by the Platform. For any trade idea that remains open at 23:59 ET on November 20, 2026, the Exit Price is the closing price of the referenced asset on the Designated Source at that time.

"Designated Source" is the price source designated by Real Vision for each asset, as published on the Competition landing page or otherwise made available by Real Vision. Real Vision may substitute the Designated Source in its sole discretion if the original source becomes unavailable or unreliable.

For the Competition, the Designated Source is: (i) for equities, the close of the most recent one-minute price bar published by Polygon.io during regular U.S. market hours; and (ii) for crypto assets, the U.S. dollar reference price published by Coinranking (api.coinranking.com), with Polygon.io as the fallback source if Coinranking is unavailable. The Platform samples prices approximately once per minute. Entry and exit prices for limit, stop-loss and take-profit instructions are recorded at the instructed level, or at the open of the triggering bar if the market moves through the level between samples, in each case as recorded by the Platform.

All ROI calculations are expressed in U.S. dollars. For trade ideas referencing assets quoted in a non-USD currency, returns are converted to USD using the Designated Source rate as of the relevant pricing time.

The Entrant’s score is the simple unweighted arithmetic average of ROI across all of the Entrant’s eligible trade ideas. Notional position size is not considered. A minimum hold period of 24 hours applies to each trade idea; trade ideas exited within 24 hours of entry are excluded from the average ROI calculation. Forks, airdrops, stock splits, dividends, and corporate actions are reflected only to the extent reflected by the Designated Source’s adjusted price series.

9. Determination of Winners; Selection Period

Winners will be selected by no later than December 1, 2026. ROI-based prizes (Top 3, Top 4-10, Category, and Weekly) are determined as follows:

Top 3. The three highest-scoring Entrants by average ROI across the full Competition Period.
Top 4-10. The next seven highest-scoring Entrants by average ROI across the full Competition Period.
Best Equities Trade. The single trade idea with the highest individual ROI among all eligible trade ideas referencing an equity asset, regardless of the submitter’s overall average.
Best Crypto Trade. The single trade idea with the highest individual ROI among all eligible trade ideas referencing a crypto asset, regardless of the submitter’s overall average.
Weekly Winner (Weeks 1 through 4). Four Weekly Winners will be selected, one for each of the following Weekly Periods: Week 1 (Monday, October 19, 2026 through Sunday, October 25, 2026), Week 2 (Monday, October 26, 2026 through Sunday, November 1, 2026), Week 3 (Monday, November 2, 2026 through Sunday, November 8, 2026), and Week 4 (Monday, November 9, 2026 through Sunday, November 15, 2026). For each Weekly Period, the Weekly Winner is the Entrant with the highest average ROI across all of that Entrant’s eligible trade ideas that were both entered and exited (or marked-to-market for the applicable week-end) within that Weekly Period, subject to the 24-hour minimum hold per trade.

Vanity prizes are determined as follows:

Raoul’s Favorite Idea. Selected by Raoul Pal, in his sole editorial discretion, from among the eligible trade ideas, based on originality, clarity of thesis, and quality of analysis. Selection is editorial and does not constitute investment advice, recommendation, or endorsement. Selection does not imply that Raoul Pal or Real Vision holds, has traded, or recommends the position.

In the event of a tie, Real Vision may apply reasonable tie-breaking criteria in its sole discretion, including the earliest time-stamped submission. All decisions of Real Vision are final and binding.

Prize stacking. An Entrant may win at most one Top 3 prize and may also win one Category prize, one Weekly prize, and one Vanity prize. An Entrant may not win more than one Vanity prize. An Entrant cannot win both a Top 3 prize and a Top 4-10 prize. If application of these rules would otherwise award an Entrant a Top 4-10 prize when that Entrant has also won a Top 3 prize, the Top 4-10 slot rolls down to the next eligible Entrant.

10. Prizes

Prize	Cash	Membership
1st Place	$20,000	Lifetime RV Pro
2nd Place	$15,000	Lifetime RV Pro
3rd Place	$10,000	Lifetime RV Pro
Best Equities Trade	$5,000	none
Best Crypto Trade	$5,000	none
Raoul’s Favorite Idea	$5,000	none
Weekly Winner (Week 1)	$5,000	none
Weekly Winner (Week 2)	$5,000	none
Weekly Winner (Week 3)	$5,000	none
Weekly Winner (Week 4)	$5,000	none
Top 4-10	none	12-month membership upgrade (or 12-month extension if already RV Pro)

"Lifetime RV Pro" means access to the RV Pro membership tier for the lifetime of the winner’s Real Vision account in good standing, or for so long as Real Vision continues to offer the RV Pro membership tier commercially to its members generally, whichever is shorter. If the RV Pro tier is materially changed, rebranded, or discontinued, Real Vision will, in its sole discretion, either (a) substitute a comparable membership tier of equal or greater retail value, (b) convert the remaining entitlement to a cash equivalent based on the Approximate Retail Value pro-rated for remaining assumed life, or (c) provide ninety (90) days advance notice before any sunset, during which the winner may use accelerated access. The Approximate Retail Value of Lifetime RV Pro is $24,995, calculated as five (5) years of Pro tier access at the current annual retail price of $4,999. The Approximate Retail Value will be used for tax reporting and any state filings. Lifetime RV Pro is non-transferable, non-assignable, and non-refundable, and is not redeemable for cash except through the substitution mechanism in clause (b) above.

Cash prizes may, at the winner’s election and at Real Vision’s discretion, be paid in USDC on a network designated by Real Vision, subject to Section 14 (Crypto Prize Mechanics). Prizes are awarded "AS IS" and WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT. Prizes are non-transferable, non-assignable, and non-refundable, and may not be substituted at the winner’s request except as expressly stated.

11. Notification

Real Vision will contact each winner by email and by Platform message using the contact information on the winner’s Real Vision account or AMOE entry. A winner must respond to the notification within five (5) business days. Real Vision may, in its sole discretion, extend the response window. If a winner does not respond within the response window, fails to satisfy Section 12 (Identity Verification), is determined to be ineligible, or declines the prize, Real Vision may award the prize to the next eligible Entrant or cancel the prize.

12. Identity Verification; Affidavit and Release

As a condition of any prize, the winner must:

provide legal name, country of residence, and a copy of a government-issued photo identification;
complete and return an Affidavit of Eligibility and Publicity Release in the form attached as Exhibit A;
complete and return Internal Revenue Service Form W-9 (U.S. winners) or W-8BEN / W-8BEN-E (non-U.S. winners);
for any crypto prize, satisfy Section 14; and
pass Real Vision’s sanctions and politically-exposed-person screening.

Real Vision may refuse to award any prize to a person who fails to satisfy this Section 12.

13. Tax Reporting; Withholding

All federal, state, provincial, and local taxes, and any other fees and expenses associated with the receipt or use of any prize, are the sole responsibility of the winner. Real Vision will issue Internal Revenue Service Form 1099-MISC to U.S. winners receiving aggregate prize value of $600 or more. Real Vision will withhold 30% of any prize paid to a non-resident alien winner absent a valid claim of treaty benefit on Form W-8BEN or W-8BEN-E. Real Vision will apply 24% backup withholding to any U.S. winner who fails to provide a valid taxpayer identification number on Form W-9.

14. Crypto Prize Mechanics

A winner who elects to receive a cash prize in crypto may receive the prize in USDC on a network designated by Real Vision. Crypto prizes are subject to:

wallet verification: the winner must provide a wallet address controlled by the winner, evidenced as Real Vision may reasonably require, and not a deposit address at a third-party exchange unless confirmed by the exchange;
valuation: the USD value of the prize is fixed as of the date of the affidavit, using a designated price source, and converted to USDC at par;
sanctions screening: Real Vision will conduct sanctions and blockchain analytics screening on the winner’s wallet before transfer, and may refuse to send to any wallet that fails screening;
Travel Rule data: the winner must provide identifying information sufficient to comply with applicable Travel Rule requirements;
substitution: Real Vision may substitute fiat for crypto, in its sole discretion, if a crypto transfer would or could violate any law in the winner’s jurisdiction or in any jurisdiction Real Vision determines is relevant;
tax: the winner is solely responsible for any tax consequences of receiving the prize in crypto, including any difference between the USD value at award and the USD value at receipt.

15. Privacy

Personal information collected from Entrants will be processed in accordance with Real Vision’s Privacy Policy at https://www.realvision.com/privacy. By entering, each Entrant agrees that Real Vision may contact the Entrant by email about the Competition. As a condition of accepting a prize, each winner consents to Real Vision and its designees using the winner’s name, voice, image, likeness, photographs, statements, biographical information, and any other personal characteristics, in any and all media now or hereafter known, for editorial, marketing, promotional, and commercial purposes related to the Competition and to Real Vision generally, without additional compensation to the winner, except where prohibited by law. Winners will reconfirm this consent on the Affidavit and Publicity Release.

16. Intellectual Property

Each Entrant retains ownership of original content submitted. By entering, each Entrant grants Real Vision a worldwide, perpetual, irrevocable, royalty-free, transferable, sublicensable license to use, reproduce, publish, display, distribute, edit, and create derivative works from the submission in any media now known or hereafter developed, for editorial, promotional, marketing, and commercial purposes. Each Entrant represents and warrants that the submission is original, that the Entrant has the right to grant the license, and that the submission does not infringe any third-party right.

17. No Investment Advice; No Endorsement

The Competition is for educational and informational purposes only. The submission of a trade idea does not constitute investment advice by Real Vision, and Real Vision does not evaluate the suitability, risk tolerance, or regulatory compliance of any submission. The selection of any submission as a prize winner does not constitute investment advice, recommendation, endorsement, or validation by Real Vision or by any individual judge, including Raoul Pal. Each Entrant acknowledges that all trading involves risk of loss, including the loss of principal, and that each Entrant is solely responsible for that Entrant’s own investment decisions. No submission constitutes personalized investment advice to any specific person, and each Entrant represents that the Entrant’s submission complies with all applicable laws and regulations.

18. Content Removal

Real Vision reserves the right to remove, edit, or disqualify any submission that Real Vision determines, in its sole discretion, violates these Official Rules, contains unlawful or offensive content, or creates regulatory or reputational risk. Removal of a submission does not entitle the Entrant to compensation or to a replacement submission.

19. Force Majeure

Real Vision is not liable for any failure or delay in performance resulting from events beyond its reasonable control, including acts of God, governmental actions, market disruptions, exchange or venue outages, technical failures, cyber incidents, or pandemics.

20. No Liability

Except where prohibited by law, by entering the Competition each Entrant releases Real Vision and its parents, subsidiaries, and affiliates, and its and their officers, directors, employees, representatives, and agents, from any and all costs, injuries, losses, or damages of any kind, including death and bodily injury, arising in whole or in part, directly or indirectly, from participation in the Competition or from the acceptance, receipt, possession, use, or misuse of any prize. Some jurisdictions do not allow such releases, in which case the foregoing applies to the maximum extent permitted by law. Real Vision assumes no responsibility for hardware, software, or network failures of any kind, lost or unavailable network connections, fraudulent, incomplete, garbled, or delayed transmissions, or any other technical or human error that may limit, delay, or prevent participation.

21. Cancellation; Modification

Real Vision may, in its sole and absolute discretion, cancel, change, suspend, or modify any aspect of the Competition, or the entire Competition, at any time, including in response to virus, bug, unauthorized human intervention, or other cause beyond Real Vision’s reasonable control that corrupts or impairs the administration, integrity, or security of the Competition. Real Vision may disqualify any individual who tampers with the Competition, violates these Official Rules, or engages in fraudulent or offensive conduct. Where required by applicable state law, modifications affecting prize value, eligibility, or selection methodology will be filed with the relevant state regulator before they take effect.

22. Governing Law; Dispute Resolution; Class Action Waiver

These Official Rules are governed by the laws of the Cayman Islands, without regard to conflict-of-laws principles. Any dispute arising out of or relating to the Competition will be resolved exclusively in the courts of the Cayman Islands, and each Entrant consents to that jurisdiction.

For Entrants resident in the United States, any dispute arising out of or relating to the Competition that the Entrant elects to pursue in the United States shall, at Real Vision’s election, be resolved by binding individual arbitration administered by JAMS under its Streamlined Arbitration Rules, with the seat in New York, New York. Each Entrant waives the right to participate in any class, collective, or representative action or proceeding. Nothing in this Section 22 limits the right of any party to seek injunctive relief to protect intellectual property or confidential information.

23. Sponsor; Contact

Sponsor: Real Vision Group SEZC, Signal House, Off Fairbanks Road, Grand Cayman, KY1-9012, Cayman Islands. Questions regarding the Competition or these Official Rules may be directed to league@realvision.com.

Real Vision Unf*ck Your Future Trading League. Official Rules. October 2026.

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