The allocation process within environmental markets is frequently a source of contention, marked by a lack of transparency. Historically, allocation of fishing opportunities has been primarily rooted in past catches, a practice increasingly scrutinized due to its potential implications for future generations and other societal concerns. Climate change and related shifts in fish distribution, but also stock recoveries, now occurring after decades of overfishing, have brought attention to this issue, potentially opening avenues for policy experimentation. Cases of conflict arising from shifting distributions underscore the urgency of addressing allocation challenges. Despite prevailing challenges, there exist policy examples that provide models for more transparent and equitable methods of allocating fishing opportunities, signaling options for improved practices. For instance, auctions may be used for at least a partial allocation, as they could substantially increase the re-distribution of resource rent to society. Other policies could be implemented to protect small-scale fishing with low environmental impact.