Nanosponges are porous, three-dimensional polymeric networks at the nanoscale that can include and release a wide range of molecules. Over the 2010–2019 decade, cyclodextrin-based and polymeric nanosponges gained traction as versatile carriers for improving aqueous solubility, chemical stability, controlled release, topical and systemic delivery, and for applications beyond pharmaceutics (cosmetics, environmental remediation). This review summarizes synthesis routes, characterization techniques, physicochemical properties, representative experimental results, and demonstrated applications from the 2010–2019 literature, and highlights challenges and perspectives for translation.