With the increased availability of data and the capacity to make sense of these data, computational approaches to analyze, model and simulate public policy evolved toward viable instruments to deliberate, plan, and evaluate them in different areas of application. Such examples include infrastructure, mobility, monetary, or austerity policies, policies on different aspects of societies (health, pandemic, skills, inclusion, etc.). Technological advances along with the evolution of theoretical models and frameworks open valuable opportunities, while at the same time, posing new challenges. The paper investigates the current state of research in the domain and aims at identifying the most pressing areas for future research. This is done through both literature research of policy modeling and the analysis of research and innovation projects that either focus on policy modeling or involve it as a significant component of the research design. In the paper, 16 recent projects involving the keyword policy modeling were analyzed. The majority of projects concern the application of policy modeling to a specific domain or area of interest, while several projects tackled the cross-cutting topics (risk and crisis management). The detailed analysis of the projects led to topics of future research in the domain of policy modeling. Most prominent future research topics in policy modeling include stakeholder involvement approaches, applicability of research results, handling complexity of models, integration of models from different modeling and simulation paradigms and approaches, visualization of simulation results, real-time data processing, and scalability. These aspects require further research to appropriately contribute to further advance the field.