Transcriptional bursting refers to the stochastic transition of a promoter between transcriptionally active and inactive states. This dynamic process is highly regulated by the dynamics of transcription factor binding to DNA, their interactions with coactivators, and the 3D interactions between promoters, condensates, and enhancers. In this mini-review, we discuss recent insights into the kinetics of transcription factors and cofactors in both simple and complex regulatory environments to understand their impact on transcriptional bursting. We examine the novel concept of transcription factor exchange and relate it to different cooperativity models. Finally, we discuss recent live-cell imaging studies on the regulation of transcriptional bursting by enhancers and transcriptional condensates.