Terrestrial large carnivores have great ecological, economic and cultural importance, but are in global decline due to habitat loss, prey depletion, poaching, retributive killing and regulated hunting. While regulated carnivore hunting potentially reduces conflict with humans and livestock, increases social tolerance and provides revenue for conservation, it can also drive population declines. Some policies regulating carnivore hunting acknowledge and address negative effects on demography and population dynamics, but others do not. Using wolves as an example, we identify four aspects of hunting policy that do not align well with ecological theory and data, and suggest resolutions for these problems that have broad relevance to exploited carnivore populations.