BACKGROUND: Although previous studies have shown that both adolescence and drug addiction can influence risk-taking and decision-making processes, the underlying mechanisms remain unclear. Specifically, there is a lack of evidence as to whether these conditions could affect deliberative and affective processes involved in risk taking, such as feedback learning and valuation of profits and risk. OBJECTIVES: The objectives were to compare the role of feedback and the use of information in risk-taking behavior between female crack cocaine users and adolescents. Additionally, we aimed to investigate whether sensation seeking, impulsivity, depressive and anxiety symptoms, executive functioning, and working memory performance could explain differences in risk-taking behavior. METHOD: This is a quasi-experimental study comparing 27 low-income adult female crack cocaine users (CU) to 18 female adolescents (AD) within two conditions (no-feedback or delayed-feedback) of the Columbia Card Task (CCT). In order to investigate CCT reference values for adult females, we also included 20 female non-drug-users with regular education and income as a reference group (RG). RESULTS: A similar pattern of risk-taking behavior was found between CU and AD within the CCT no-feedback condition. When delayed feedback was provided, AD exhibited a similar pattern of risk-taking behavior in the no-feedback condition, while CU showed a reduction of risk-taking behavior. Both groups exhibited higher risk taking than the RG within the CCT no-feedback condition, but only the AD group showed higher risk-taking behavior within the CCT feedback condition. Depressive symptom severity and working memory deficits were associated with higher risk-taking behaviors in CU. Executive functioning deficits were associated with higher risk-taking behavior in AD. CONCLUSIONS: Adult female crack cocaine users and female adolescents took similar risks during risky decision-making scenarios where feedback about their own performance was absent. However, when participants were provided with such feedback, it modulated risk-taking behaviors in crack cocaine users but not in adolescents.