Wharton Researchers Investigate Whether GLP-1 Drugs Can Curb Impulsive Spending

Researchers at the Wharton School of the University of Pennsylvania are launching a pioneering study to determine whether GLP-1 weight-loss drugs can improve individuals’ financial well-being by reducing impulsive spending, gambling, and other risky monetary decisions.

Michael Platt, a neuroscientist and Wharton professor, told CBS News that these medications may induce structural changes in the brain that affect long-term habits. While previous research has focused on food choices, Platt believes the drugs could similarly influence financial decision-making, potentially encouraging healthier saving behaviors.

The investigation aims to explore how GLP-1s interact with the body’s reward system, a neural network that reinforces certain behaviors. By dampening the drive for immediate rewards, the drugs might help people resist temptations such as luxury purchases or speculative investments.

Platt noted that anecdotal evidence from high-risk professions, such as stock trading, suggests that reduced reward sensitivity could lower appetite for risk. This shift could benefit ordinary consumers who struggle with impulse control, helping them prioritize long-term financial goals over immediate gratification.

The study follows a 2026 Northwestern Mutual report revealing that 73% of Americans have either participated in or considered speculative activities like sports betting and cryptocurrency investing, viewing them as more effective than traditional index fund strategies.

Conducting the research at the university’s MindCORE lab, the team plans to recruit approximately 180 participants between mid-October and March 2027. The study is funded by Noom, a digital health company whose CEO, Geoff Cook, previously conducted research hinting at the connection between reward dampening and risk-taking.

Participants will complete demographic and mental health surveys before undergoing magnetic resonance imaging (MRI) scans. During the scans, they will perform cognitive tasks involving both food and financial decisions. One task uses passive viewing of 14 images depicting products, experiences, and opportunities like the Powerball jackpot, while avoiding recognizable brands to prevent bias.

A second phase requires participants to make real financial choices, such as selecting between receiving $20 immediately or $50 in two months. MRI technology will track blood flow and oxygen levels to identify brain activity associated with these decisions.

To ensure honest responses, participants must adhere to their chosen options after the scan. If a subject selects the delayed larger payment, they will actually receive the $50 at the specified future date.

“That ensures that you are being honest and blind with your preferences,” Platt explained. “You will have to face the consequences of your decision.”

The research team aims to determine how GLP-1 use affects subjective value—how desirable a particular financial or food option is to an individual—and whether the medication alters these valuations.