The James Randi Educational Foundation will pay US$1,000,000 (One Million US Dollars) ("The Prize") to any person who demonstrates any psychic, supernatural, or paranormal ability under satisfactory observation. Such demonstration must take place under the rules and limitations described in this document. An applicant can be from or in any part of the world. Gender, race, and educational background are not factors for acceptance. Applicants must be at least 18 years of age and legally able to enter into binding agreements.