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- Global law firm Dechert LLP has hired former Commodity Futures Trading Commission (CFTC) Senior Counsel and Policy Advisor Carl Kennedy as a New York-based partner to lead its commodities and derivatives practice, a strategic move the firm says is directly tied to the growing regulatory focus on prediction markets.
- Citing Kennedy’s recent congressional testimony on sports-related event contracts and his extensive regulatory background, Dechert leadership noted that the hire will help corporate and fintech clients navigate a rapidly shifting legal landscape as prediction markets and digital assets draw intense federal scrutiny.
Dechert LLP has hired Carl Kennedy as a New York-based partner and head of commodities and derivatives in its financial services group, a move the firm said will deepen its CFTC, derivatives, fintech and prediction markets capabilities.
The hire matters because prediction markets, including sports-related contracts, are drawing more attention from federal policymakers and the Commodity Futures Trading Commission. Dechert tied Kennedy’s arrival directly to that trend, saying clients are increasingly evaluating issues involving digital assets, tokenization and prediction markets.
Dechert ties the hire to growing CFTC oversight
In announcing the move on Oct. 5, Dechert said Kennedy adds sell-side derivatives and CFTC regulatory depth to its practice. The firm said he testified before the U.S. House of Representatives in July 2026 during a hearing on the growth of sports-related prediction markets and the federal framework governing them.
Dechert co-chair David Forti said in a statement that “oversight of crypto, tokenization and prediction markets continues to move toward the CFTC,” adding that Kennedy’s regulatory and in-house experience can help clients stay ahead of that shift.
Douglas Dick, co-chair of Dechert’s financial services group, said Kennedy’s ties within the CFTC community and among exchanges, intermediaries and market makers are especially useful “as prediction markets become an area companies are actively evaluating.”
Kennedy said he is joining Dechert to help clients navigate a “fast-changing regulatory landscape,” particularly as more activity in digital assets, tokenization and prediction markets falls under the CFTC’s jurisdiction.
Kennedy brings CFTC, law firm and JPMorgan experience
Before joining Dechert, Kennedy was a partner at another global law firm, according to the announcement. Earlier in his career, he served as Senior Counsel and Policy Advisor at the CFTC, where Dechert said he was a primary drafter of several rules and helped with guidelines implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The firm also said Kennedy previously served as Assistant General Counsel and Executive Director at JPMorgan and worked as counsel at a global hedge fund trade association on regulatory and legislative advocacy related to over-the-counter derivatives reform.
Dechert said Kennedy has been recognized by Chambers Global, Chambers USA, The Legal 500 United States and the New York Law Journal. The firm added that it has welcomed more than 50 lateral partners this year and that its financial services and investment management team includes nearly 200 lawyers.
For prediction markets watchers, the announcement is another sign that major law firms see rising demand for advice around CFTC-regulated products and the federal rules that may govern sports-related event contracts.
Source: As reported by dechert.com.
