Prediction markets involve real risk.

Prediction-market positions can lose value and may settle at zero. A user can lose some or all of the capital allocated to a position or strategy.

A systematic strategy can perform poorly even when its historical results were positive. Market behavior changes, and historical relationships may not persist.

Backtests are hypothetical. They rely on historical data, assumptions, market availability, and methodology that cannot perfectly reproduce real-world trading conditions.

Some prediction markets may have limited liquidity. A user may be unable to enter or exit a position at the expected price, or at all.

Market prices can change between the time information is displayed and the time an order is executed. Actual execution may therefore differ from simulated or displayed prices.

A strategy containing many positions is not necessarily fully diversified. Markets can be correlated, particularly when several positions depend on the same event, team, economic outcome, tournament, or underlying factor.

Alto may depend on prediction-market operators, data providers, infrastructure providers, and other third parties. Outages, errors, rule changes, settlement decisions, or interruptions affecting those services may affect Alto users.

Prediction markets operate within evolving legal and regulatory frameworks. Changes in law, regulation, enforcement, or third-party eligibility requirements may affect which markets or Alto features are available.

Software can fail. Network interruptions, delayed data, incorrect information, bugs, or other technical problems can affect platform functionality.

AI-generated information can be incomplete or incorrect. Vela should be used as a research tool, not as a source of guaranteed outcomes or personalized financial advice.