The Water Science and Technology Board and the Board on Earth Sciences and Resources will be holding their joint meeting, “Rethinking Water Markets for Multiple Benefits,” on November 30, 2023. Water markets are commonly thought of as economic vehicles that enable the transfer of water or water rights from one user to another (for example, from agriculture to urban use). This meeting will consider the broad implications and benefits that can accrue from water markets, including increasing flexibility and options in meeting various social, environmental, and regulatory targets and priorities. The meeting will explore concepts such as water quality trading to reduce pollutants and protect ecosystems, providing instream flows for aquatic systems, groundwater banking to optimize water allocations among different users, learning from other types of commodity markets, and issues related to scale, data availability, transparency, monitoring, and stakeholder involvement.