Exotic pet ownership has been escalating worldwide through markets where people can seek the pets face-to-face and scaling the global phenomenon in online commerce, providing for cross-cutting dangers along animal welfare, public safety, biodiversity conservation and invasive species pathways. This paper is a synthesis of evidence from peer-reviewed studies and international governance frameworks in order to (i) map the ethical and welfare issues inherent in the keeping of non-domesticated species as companion animals; (ii) examine public safety issues and One-Health risks (injuries, envenomation and zoonoses); (iii) assess the environmental impacts (IAS introductions, biodiversity loss associated with trade) and; (iv) posit a testable risk governance model that can be examined empirically using trade, incident and licensing data. Using secondary quantitative indicators found in the literature (e.g. large-scale seizure totals of wildlife crime in the literature and documents indicating broad under-regulation of traded taxa), we make a structured 'Exotic Pet Harm Pathway' framework by linking drivers of trade to downstream harms through identifiable mechanisms (capture/production, transport, retail, captive husbandry, escape/release and spillover). We developed this framework into hypotheses and an associated measurement model that can be tested against administrative and survey data in the form of online trade listings, licensing and health incident data. Policy Implications Focuses on Precautionary regulation (eg, positive lists) Targeted consumer information Mandatory welfare regulation Enforceable welfare standards Cross sector One Health