Given the widespread adoption of display technology based on nematic liquid crystals, the discovery of new nematic phases at thermodynamic equilibrium, although extremely rare, generates much excitement. The remarkable discovery polar order and giant ferroelectric polarisation in a nematic fluid is a watershed moment in soft matter research, and is one of the most important discoveries in the 150-year history of liquid crystals. After a brief introduction to this emerging field, we present the current state-of-the art in terms of understanding the molecular origins of this phase, before exploring how molecular structure underpins the incidence of this phase, as well as exploring future directions.