Purslane (Portulaca oleracea L.) is an annual edible plant that is widely distributed and has a long history of use as both food and medicinal plant. It has attracted interest as a source of alpha-linolenic acid, vitamins, minerals, and phenolic compounds, and as an underutilized plant for food applications. This review summarizes the reported compositional diversity of purslane, with particular attention to materials described as wild or cultivated. The available studies differ in cultivar, provenance, plant part, developmental and harvest stage, growth conditions, processing, analytical method, and reporting basis. Consequently, reported differences between wild and cultivated materials should not be interpreted as controlled effects of cultivation status or domestication. Experimental studies nevertheless show that particular nutrient regimes, salinity and light conditions, water treatments, harvest stages, plant parts, and processing methods can modify measured compositional or quality traits. Human intervention studies have used seeds or specific extracts, generally in modest samples and for short periods; their findings should not be generalized to fresh purslane or to purslane as a whole. Replicated common-environment and factorial studies using genetically characterized materials, standardized sampling, and common analytical procedures are needed to estimate plant-material, environmental, and interaction effects. These distinctions are essential for evaluating the nutritional, functional, safety, food-use, and agricultural potential of purslane.