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Yes, Christ is sitting on David's throne today. As we look at II Samuel 7, we see the Lord speaking to King David through Nathan the prophet. In verses 11-16, we read---
“since the time that I commanded judges to be over My people Israel, and have caused you to rest from all your enemies. Also the Lord tells you that He will make you a house. When your days are fulfilled and you rest with your fathers, I will set up your seed after you, who will come from your body, and I will establish his kingdom. He shall build a house for My name, and I will establish the throne of his kingdom forever. I will be his Father, and he shall be My son. If he commits iniquity, I will chasten him with the rod of men and with the blows of the sons of men. But My mercy shall not depart from him, as I took it from Saul, whom I removed from before you. And your house and your kingdom shall be established forever before you. Your throne shall be established forever.”
God tells David that from his (David’s) seed a kingdom will be established forever. God says that the seed will be His son. God says his throne shall be established forever. Then we read in Psalm 89:3-4---
“I have made a covenant with My chosen, I have sworn to My servant David: Your seed I will establish forever, And build up your throne to all generations.”
We know from Matthew 1:6 that Christ was a descendant of David. Then we read in Acts 2 when Peter preached this sermon after the resurrection of Christ, that he says in verse 30 that God would raise up the Christ to sit on his throne that is David’s throne because he was talking about David (verse 29). So, Christ is now sitting on the throne of David. Christ has all authority (Mt. 28:18). Christ will continue to rule on His throne until He appears a second time (Hebrews 9:28).
I hope this is helpful.
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No, Jesus in not ruling in a physical kingdom. David did sit on his throne in Jerusalem ruling over Israel. His was a physical kingdom. The Jews were expecting the Messiah to rule just the way David did and make Israel a powerful nation on earth again. Since Jesus did not come to set up an earthly kingdom, the Jews rejected Him and had Him crucified.
Jesus very clearly stated His kingdom was not of this world. In talking to Pilate just before He was crucified, He stated as recorded in John 18:36----
“My kingdom is not of this world. If My kingdom were of this world, My servants would fight, so that I should not be delivered to the Jews; but now My kingdom is not from here.”
Christ is now ruling on His throne over His spiritual kingdom.
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