Wallace began publishing fiction in 1997, when he launched Cosmos Books, with Philip J. Harbottle, and released Fantasy Annual, a paperback magazine of British authors including E.C.
In 1999, the Cosmos Books name was licensed to Wildside Press and output greatly increased, expanding with American and Australian authors.
In early 2009, Wallace reacquired Prime Books, and relaunched it as an independent publishing house in May that year.
[5] During 2006 his first nationally distributed book, Horror: The Best of the Year was released, and he took on a co-editing job with Nick Mamatas, with Clarkesworld Magazine.
Other genre/nongenre efforts Wallace has been involved with include the relaunch and management of WSFA Press; co-founding the Shirley Jackson Awards; managing the SFWA Book Depot at the Nebula Awards conference; and co-administrating the ELFF (Elementary Librarian Family and Friends) facebook group.