We studied the impact of humor on the Iowa Gambling Task (IGT) decision-making performance and the cognitive control exerted during this task, considering sex as a moderator, and examined whether cognitive control mediated the infuence of humor on decision-making. Sixty participants (30 females) performed an extended version of the IGT (500 trials divided into 20 blocks). We randomly assigned them to either an experimental group (Humor Group; Hg; n=30), where humorous videos were interspersed in the decision-making trials or a control group (Non-Humor Group; NHg; n=30), where nonhumorous videos were interspersed in the decision-making trials. We recorded participant performance and feedback-related negativity (FRN) and P3b event-related potentials (ERP) during IGT feedback as task monitoring and attention allocation indicators, respectively. We expected that whereas humor would improve IGT decision-making under risk in females during the last blocks (17–20) as well as cognitive control (specifcally attention allocation and task monitoring) across the entire IGT, it would impair them in males. Contrary to our expectations, humor improved IGT decision-making under risk for both sexes (specifcally at blocks 19 and 20) and attention allocation for most IGT blocks (P3b amplitudes). However, humor impaired IGT decision-making under ambiguity in males during the block six and task monitoring (FRN amplitudes) for most IGT blocks. Attention allocation did not mediate the benefcial efect of humor on decision-making under risk in either sex. Task monitoring decrements fully mediated the humor's detrimental infuence on men's decision-making under ambiguity during block six.