The use of enhancement drugs attracts considerable academic, media and public attention. Such enhancement practices range from the illicit use of medications to the legal use of caffeine. This paper reviews the risks, benefits and regulatory status of those drugs associated with both sporting and cognitive enhancement. The purpose of this paper is to forefront what we know about such drugs – and especially stimulants – prior to entering into discussion over their ethical implications. While the evidence suggests stimulants can improve sporting performance, the evidence to confirm cognitive gains is much weaker. We consequently recommend that academics, the media and regulators should avoid making exaggerated claims about such drugs, and avoid implying that their use is more common than evidence currently suggests.