diff --git a/MatrixSDK/Crypto/CryptoMachine/MXKeysQueryScheduler.swift b/MatrixSDK/Crypto/CryptoMachine/MXKeysQueryScheduler.swift
index d2bf3117d..f20b11ac3 100644
--- a/MatrixSDK/Crypto/CryptoMachine/MXKeysQueryScheduler.swift
+++ b/MatrixSDK/Crypto/CryptoMachine/MXKeysQueryScheduler.swift
@@ -56,12 +56,12 @@ public actor MXKeysQueryScheduler<Response> {
     private func currentOrNextQuery(users: Set<String>) -> Task<Response, Error> {
         if let currentQuery = currentQuery {
             if currentQuery.contains(users: users) {
-                log("... query already running")
+                log("... query with the same user(s) already running")
                 
                 return currentQuery.task
                 
             } else {
-                log("... queueing users for the next query")
+                log("... queueing user(s) for the next query")
                 
                 nextUsers = nextUsers.union(users)
 
@@ -69,9 +69,9 @@ public actor MXKeysQueryScheduler<Response> {
                     // Next task needs to await to completion of the currently running task
                     let _ = await currentQuery.task.result
 
-                    // Extract and reset next users
-                    let users = nextUsers
-                    nextUsers = []
+                    // At this point the previous query has already changed `self.currentQuery`
+                    // to `next`, so we can extract its users to execute
+                    let users = self.currentQuery?.users ?? []
 
                     // Only then we can execute the actual work
                     return try await executeQuery(users: users)
@@ -81,28 +81,29 @@ public actor MXKeysQueryScheduler<Response> {
             }
 
         } else {
-            log("... query starting")
-            
             let task = Task {
                 // Since we do not have any task running we can execute work right away
                 try await executeQuery(users: users)
             }
-            currentQuery = .init(users: users, task: task)
+            currentQuery = Query(users: users, task: task)
             return task
         }
     }
 
     private func executeQuery(users: Set<String>) async throws -> Response {
         defer {
-            if let next = nextTask {
-                log("... query completed, starting next pending query.")
-                currentQuery = .init(users: users, task: next)
+            if let nextTask = nextTask {
+                log("... query for \(users) completed, starting next pending query.")
+                currentQuery = Query(users: nextUsers, task: nextTask)
             } else {
-                log("... query completed, no other queries scheduled.")
+                log("... query for \(users) completed, no other queries scheduled.")
                 currentQuery = nil
             }
             nextTask = nil
+            nextUsers = []
         }
+        
+        log("... query starting for \(users)")
         return try await queryAction(Array(users))
     }
     
diff --git a/MatrixSDKTests/Crypto/CryptoMachine/MXKeysQuerySchedulerUnitTests.swift b/MatrixSDKTests/Crypto/CryptoMachine/MXKeysQuerySchedulerUnitTests.swift
index 17f91ef4d..ee7d3b350 100644
--- a/MatrixSDKTests/Crypto/CryptoMachine/MXKeysQuerySchedulerUnitTests.swift
+++ b/MatrixSDKTests/Crypto/CryptoMachine/MXKeysQuerySchedulerUnitTests.swift
@@ -88,6 +88,8 @@ class MXKeysQuerySchedulerUnitTests: XCTestCase {
     
     // MARK: - Tests
     
+    // We assert a query like so:
+    // |-------------| (Alice)
     func test_queryAlice() async {
         let exp = expectation(description: "exp")
         
@@ -102,6 +104,8 @@ class MXKeysQuerySchedulerUnitTests: XCTestCase {
         XCTAssertQueriesCount(1)
     }
     
+    // We assert a query like so:
+    // |-----------------| (Alice, Bob)
     func test_queryAliceAndBob() async {
         let exp = expectation(description: "exp")
         
@@ -117,6 +121,9 @@ class MXKeysQuerySchedulerUnitTests: XCTestCase {
         XCTAssertQueriesCount(1)
     }
 
+    // We assert consecutive queries like so:
+    // |-------------| (Alice)
+    //         |.....--------| (Bob)
     func test_queryBobAfterAlice() async {
         let exp = expectation(description: "exp")
         exp.expectedFulfillmentCount = 2
@@ -139,6 +146,10 @@ class MXKeysQuerySchedulerUnitTests: XCTestCase {
         XCTAssertQueriesCount(2)
     }
 
+    // We assert parallel queries like so:
+    // |-------------| (Alice)
+    //     |---------| (Alice)
+    //          |----| (Alice)
     func test_executeMultipleAliceQueriesOnce() async {
         queryStartSpy = {
             self.stubbedResult = .success([
@@ -178,6 +189,10 @@ class MXKeysQuerySchedulerUnitTests: XCTestCase {
         XCTAssertQueriesCount(1)
     }
 
+    // We assert consecutive queries like so:
+    // |-------------| (Alice)
+    //               |-----------| (Alice)
+    //                           |---------| (Alice)
     func test_executeEachAliceQuerySeparately() async {
         queryStartSpy = {
             self.stubbedResult = .success([
@@ -218,6 +233,9 @@ class MXKeysQuerySchedulerUnitTests: XCTestCase {
         XCTAssertQueriesCount(3)
     }
 
+    // We assert parallel queries like so:
+    // |-------------| (Alice, Bob)
+    //     |---------| (Bob)
     func test_executeMultipleBobQueriesOnce() async {
         queryStartSpy = {
             self.stubbedResult = .success([
@@ -252,6 +270,9 @@ class MXKeysQuerySchedulerUnitTests: XCTestCase {
         XCTAssertQueriesCount(1)
     }
 
+    // We assert consecutive queries like so:
+    // |-------------| (Alice, Bob)
+    //         |.....--------| (Bob, Carol)
     func test_executeSecondBobQuerySeparately() async {
         queryStartSpy = {
             self.stubbedResult = .success([
@@ -287,6 +308,11 @@ class MXKeysQuerySchedulerUnitTests: XCTestCase {
         XCTAssertQueriesCount(2)
     }
 
+    // We assert consecutive queries like so:
+    // |-------------| (Alice)
+    //     |.........--------| + Bob
+    //         |.....--------| + Carol
+    //            |..--------| + David
     func test_nextQueryAggregatesPendingUsers() async {
         let exp = expectation(description: "exp")
         exp.expectedFulfillmentCount = 4
@@ -331,6 +357,11 @@ class MXKeysQuerySchedulerUnitTests: XCTestCase {
         XCTAssertQueriesCount(2)
     }
     
+    // We assert consecutive queries like so:
+    // |-------------| (Alice)
+    //     |.........--------| + Bob
+    //         |.....--------| + Carol
+    //                       |--------| (David)
     func test_pendingUsersResetAfterQuery() async {
         var exp = expectation(description: "exp")
         exp.expectedFulfillmentCount = 3
@@ -385,6 +416,45 @@ class MXKeysQuerySchedulerUnitTests: XCTestCase {
         XCTAssertQueriesCount(4)
     }
     
+    // We assert consecutive queries like so:
+    // |-------------| (Alice)
+    //     |.........--------| (Bob)
+    //                  |----| (Bob)
+    func test_alreadyRunningQueriesGetUpdated() async {
+        let exp = expectation(description: "exp")
+        exp.expectedFulfillmentCount = 3
+
+        await query(users: ["alice"]) { response in
+            XCTAssertEqual(response, [
+                "alice": ["A"],
+            ])
+            exp.fulfill()
+            
+            // We need to trigger another Bob request after Alice has completed
+            Task.detached {
+                await self.query(users: ["bob"]) { response in
+                    XCTAssertEqual(response, [
+                        "bob": ["B"],
+                    ])
+                    exp.fulfill()
+                }
+            }
+        }
+
+        await query(users: ["bob"]) { response in
+            XCTAssertEqual(response, [
+                "bob": ["B"],
+            ])
+            exp.fulfill()
+        }
+
+        await waitForExpectations(timeout: 1)
+        
+        // At the end of making 3 queries we expect to have executed only
+        // one per each user
+        XCTAssertQueriesCount(2)
+    }
+    
     func test_queryFail() async {
         scheduler = MXKeysQueryScheduler { _ in
             try! await Task.sleep(nanoseconds: 1_000_000)
diff --git a/changelog.d/pr-1726.change b/changelog.d/pr-1726.change
new file mode 100644
index 000000000..8ce313a20
--- /dev/null
+++ b/changelog.d/pr-1726.change
@@ -0,0 +1 @@
+Use correct next users with keys query