Virginia’s Nutrient Credit Exchange has proven to be an effective mechanism for facilitating compliance trading between point sources with permanent phosphorus offsets selling for upwards of USD 20 000/pound, largely generated by land conversion activities. Maryland’s nutrient trading program has yet to experience any trades. This is likely due to a lack of binding regulations, which may have led to uncertainty and risk for regulated entities to purchase credits in lieu of addressing requirements onsite. Because of the long ecosystem response-time delays associated with nutrient reductions, water quality improvements in Chesapeake Bay, and the effectiveness of the water quality trading programmes, are yet to be verified.