Low energy consumption nanolasers are crucial for advancing on-chip integrated optical interconnects and photonic integrated circuits. Monolayer transition metal dichalcogenides (TMDs) have emerged as an energy-efficient alternative to traditional semiconductor materials for nanolaser optical gain medium, promising ultralow lasing threshold powers. While several studies suggest that TMDs meet the criteria for lasing, whether true lasing has been achieved remains a topic of heavy debate within the scientific community. In this Perspective, we offer an overview of the field, outlining the key characteristics of laser light and methods for testing these properties in TMD-based devices. We then conduct a thorough review of recent reports claiming lasing, assessing the findings against established criteria for laser light emission. Finally, we discuss future research directions and applications, highlighting the key challenges that must be addressed to realize practical TMD-based nanolasers.