A critical overview of the theory of the chirality-induced spin selectivity (CISS) effect, that is, phenomena in which the chirality of molecular species imparts significant spin selectivity to various electron processes, is provided. Based on discussions in a recently held workshop, and further work published since, the status of CISS effects-in electron transmission, electron transport, and chemical reactions-is reviewed. For each, a detailed discussion of the stateof-the-art in theoretical understanding is provided and remaining challenges and research opportunities are identified.The ORCID identification number(s) for the author(s) of this article can be found under https://doi.org/10.1002/adma.202106629.