Since the first detection of gravitational waves in 2015, the LIGO-Virgo-KAGRA detectors observed over 90 signals, a number expected to triple by the end of the current observing run. These detections have opened a new window into the universe, enabling groundbreaking tests of gravity in the strong-field regime and offering insights into the distribution of matter in the universe. Yet, extracting the full physics potential from gravitational wave signals remains a challenge.

Gravitational lensing is emerging as a powerful tool in gravitational-wave astronomy, but detecting and interpreting lensed gravitational waves presents unique challenges due to weaker signals, limited detectors, and the complex nature of gravitational-wave sources. In this talk, I will outline recent progress in identifying and analyzing lensed gravitational waves, highlight how lensing can mimic or obscure key physical signatures, and discuss the implications for astrophysics and cosmology. I will also touch on how unaccounted-for lensing effects can bias tests of general relativity. These developments underscore the exciting potential of gravitational-wave astronomy to uncover new physics and deepen our understanding of the universe.