Insects are a promising part of future food chains. European law needs to include the safety rules and marketing rules of insect-based food and feed. The reformed Novel Food Regulation (Regulation (EU) 2015/2283) including its transition period should treat entrepreneurs equally. Also animal welfare needs to be regulated. The aim of this paper is to provide a comprehensive overview of the EU legislation applicable to farming and marketing insects as food and feed and to discuss its possible shortcomings. The authors believe that while the new Novel Food Regulation contributes to more clarity of the legal regulation of edible insects, it still leaves a number of loopholes unanswered.