Index Data Terms

Effective November 2, 2026. These terms govern use of Index Data published by Major League Markets ("MLM"). They supplement the Terms of Use and, for Index Data, prevail over section 6 of the Terms of Use. A signed license agreement prevails over these terms for its licensee.

1. Definitions

Index Data means every value MLM publishes on this site or through its API: settled values, constituent values, settlement events, settlement ledgers and their hashes, close records, reconciliation files, index-linked product calendars, and historical and completed-season values, in any format.

Index Documents means the League Index Framework, each index methodology, the contract specification, the settlement procedures and the governance pages. Index Documents are published for anyone to read, cite and attach to a regulatory filing. These terms do not restrict them.

Index Names means the names and tickers of MLM's indices and constituents as published on this site, including "Major League Markets" and each index name such as "Pro Football 2026 Index."

2. Use that needs no license

You may use Index Data without a license, and without asking, for any of the following:

Personal use. Viewing, downloading, charting, analyzing and storing Index Data for your own non-commercial purposes.

Verification. Recomputing any settled value from official league results under the published methodology, and verifying any ledger hash or close record. Anyone may do this, including a business, at any time, at no charge. Verification is the purpose of the public ledger.

Display and commentary. Showing, quoting or discussing Index Data in news, research, education, commentary, broadcast or social media, with the attribution in section 4. This covers values you present as information. It does not cover redistributing Index Data as a feed, file or embedded data source, or using it in a product or service you provide to others.

Academic research. Use in non-commercial research and teaching, with attribution.

Evaluation. A prospective licensee may use Index Data internally for up to 90 days to evaluate a license, on request by email to the contact in section 10. Evaluation use does not include listing, settling or distributing anything.

3. Use that needs a license

A written license from MLM is required to use Index Data for any of the following:

Listing or settlement. Using any Index Data or Index Name to list, settle, price, mark, margin or hedge any contract, product or instrument offered to others, on any venue or platform, in any jurisdiction. This is the venue license.

Redistribution. Providing Index Data, in whole or in part, to any third party as a feed, API, file, widget, embedded data source or database, or inside any product or service sold or provided to others. This is the reference data license.

Commercial internal use. Use of Index Data by a business in trading, market making, risk management or product operations beyond the evaluation period in section 2. This is the reference data license.

Derived indices. Creating a derived index, benchmark or reference rate from Index Data for use by others.

License terms are set in the license agreement and are available on request. Fees are not published on this site.

4. Attribution

Wherever Index Data is displayed, show the index name and the source: "Source: Major League Markets Pro Football 2026 Index." Link to the index page where the medium allows. Where settled values are shown, the sentence "Settled values are calculated from official league results under the published methodology." travels with them.

Do not present Index Data as a price, quote or valuation. Settled values are cash already earned from official results; they are not prices, and nobody has traded at them.

Do not state or imply that MLM lists, offers, sells or settles anything, or that any league, team or player is affiliated with, endorses or sponsors MLM or any index.

5. Restrictions on all use

Do not remove or alter attribution, hashes or close timestamps. Do not alter Index Data and present it as MLM's. Do not access the API at a rate that burdens it; published rate limits apply. Do not use Index Data for any unlawful purpose, or to offer any product to persons in a jurisdiction where that product is unlawful.

6. Publication, corrections and availability

Index Data is published at the official close, 09:00 Central Time on the day after a game (T+1), as described in the settlement procedures. A published close is never restated; errors are corrected forward and disclosed. Index Data is provided as is and as available. Without a license agreement, MLM gives no service level, no notice period and no warranty of timeliness, accuracy or completeness, and may change formats, routes or publication times with notice on the governance page.

7. Ownership

The compilation, presentation and publication of Index Data, the settlement ledgers and their hash chains, and the Index Names are MLM's. Official league results are public facts and remain so. Nothing in these terms restricts anyone from computing their own values from public results under any method they choose.

8. Ending free use

MLM may withdraw the free rights in section 2 from any person who breaches these terms. A license agreement is ended only on its own terms.

9. Changes

MLM may update these terms by posting a revised version with a new effective date and a notice on the governance page. A signed license agreement is not changed by an update to these terms.

10. Contact and license requests

hunter@majorleaguemarkets.com, or the license request form.