Lester Nygaard, un courtier en assurances aurait dû assuré son style de vie habituel, peu hâtif. Après une rencontre avec un randonneur mystérieux appelé Lorne Malvo, ça vie ne sera plus la même.
Molly begins to suspect that Lester is involved in the murders, but her boss points her in a different direction. Meanwhile, Malvo investigates the plot against a man known as the Supermarket King.
Malvo flips the script on the blackmail operation. Molly sets a trap, and Gus debates whether he should come clean. Lester's return to work has complicated repercussions.
Molly recuperates from her injury, while Malvo looks to dispatch a syndicate in Fargo. Lester continues his descent into darkness with the unfolding of his plan.
Floyd takes action and Charlie tries to prove himself; Peggy and Ed disagree about what to do next; Lou finds himself sidelined during Ronald Reagan's campaign tour.
The quiet and unsociable Hanzee Dent hunts for married couple Peggy and Ed Blumquist in connection with a possibly deadly incident while Dodd finds himself in an uncomfortable position in unknown territory.
An uneasy peace between two Kansas City crime syndicates is threatened by an untimely death. Meanwhile, the Smutny family is caught between a rock and a hard place.
Deafy and Odis join forces, Josto seeks revenge, Oraetta finds new employment, Gaetano makes a move and Zelmare and Swanee help the Smutnys with their debt.